Contact for pricing 94,027 SF

240 Corporate Blvd, Norfolk, VA 23502
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Riverside Corporate Center offers exceptional Class A office space in the heart of Hampton Roads, Virginia. This single, four-story building boasts 94,027 square feet situated on 4.9 acres of land, providing ample parking and convenient access. Built in 1989, the property features a multiple tenancy structure with flexible suite sizes ranging from 1,000 to 20,000 square feet, catering to diverse business needs. Its prime location at the intersection of I-64 and I-264 ensures effortless…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2024

What does the county charge?

$177k

Tax billed · 2024

Assessed value$14.17M

Assessed land$1.10M

Assessed improvement$13.07M

Effective rate1.25%

Value estimate

· Nov 2026

$19.40M

$17.46M – $21.34M

CAP approach$21.34M

Submarket $/SF estimate$25.45M

NOI build-up

Gross scheduled income$1.88M

Vacancy & credit loss−$151k

Operating expenses−$433k

NOI · 11.82% cap applied$1.30M

Realmo valuation models over county records.

Recently sold

What actually traded nearby?

$197/SF

Submarket average, outlier-cleaned · 57 recorded sales of this use type

Observed band · Q1–Q3$118 – $273

Cap rate analysis

How does the asset earn?

11.82%

$1.30M estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?

O-1

JurisdictionNORFOLK CITY

Location intelligence

Which uses thrive at this corner?

Best fit: Realty agency

Demand heat for this use is drawn on the map · LocInt grid

Demand index

Realty agency19.5

Law Firm18.5

Restaurant13.5

240 Corporate Blvd Norfolk, VA 23502

County assessor Recorded deeds · 1 transfer Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 13 properties nearby

Address Sale price Sold Size

6160 Commander, Norfolk, VA 23502-5518 $9,023,640 May 2025 65,351 SF

5801 Lk Wright, Norfolk, VA 23502-1863 $5,400,000 Aug 2024 47,690 SF

824 Military, Norfolk, VA 23502-3652 $20,000,000 Jul 2020 210,252 SF

1151 Azalea Gdn, Norfolk, VA 23502-5601 $4,100,000 Dec 2019 54,516 SF

130 Corporate, Norfolk, VA 23502-4952 $7,100,000 Oct 2019 35,330 SF

5700 Lk Wright, Norfolk, VA 23502-1859 $24,900,000 Feb 2019 91,374 SF

Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.

Comparable nearby

Value Estimation
$9,475,000

65,351 SF

6160 Commander Pkwy

OFFICE BUILDING (MULTI-STORY)

6160 Commander Pkwy, Norfolk, VA 23502-5518

View Details
Value Estimation
$8,660,000

64,632 SF

420 Ctr Dr

OFFICE BUILDING

420 Ctr Dr, Norfolk, VA 23502-4007

View Details
Value Estimation
$5,300,000

49,754 SF

6350 Ctr Dr

OFFICE BUILDING

6350 Ctr Dr, Norfolk, VA 23502-4107

View Details
Value Estimation
$4,495,000

43,486 SF

6325 Ctr Dr

OFFICE BUILDING

6325 Ctr Dr, Norfolk, VA 23502-4010

View Details
Value Estimation
$4,290,000

35,782 SF

6340 Ctr Dr

OFFICE BUILDING

6340 Ctr Dr, Norfolk, VA 23502-4104

View Details
Value Estimation
$7,535,000

35,330 SF

130 Corporate Blvd

OFFICE BUILDING

130 Corporate Blvd, Norfolk, VA 23502-4952

View Details

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240 Corporate Blvd Norfolk, VA 23502

Property summary