Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2921 Ballard Ave Portsmouth, VA 23701-2719
    Back to Search
    Property profile & analytics

    2921 Ballard Ave, Portsmouth, VA 23701-2719

    View on Map
    • Truck terminals
    • 6,000 SF
    • 3.20 lot acres
    Off-Market
    Property ID
    US87-3646474
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Truck terminals

    Property Details for 2921 Ballard Ave

    Year built
    1973
    Lot size
    3.20 lot acres
    Zone code
    IL
    Property type
    Truck terminals
    APN
    0556-0051
    APU
    5560051

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 11, 2020 — Real Estate Management LLC — Deed · related $105k · Towne Bk
    Dec 30, 2019 $800,000 Lighthouse Real Estate Management L Averitt Properties INC Warranty Deed $850k · Townebank
    Sep 11, 2008 $970,000 Averitt Properrties INC Pifer Property Holdings Grant Deed · related —
    — — Real Estate Management LLC — Loan Modification · related $105k · Towne Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Portsmouth
    County
    Portsmouth City
    State
    Virginia
    Longitude
    -76.3683
    Latitude
    36.807
    CBSA code
    47260
    CBSA name
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $21,534
    $356,780
    $359,060
    $715,840
    -
    $356,780
    $359,060
    $715,840

    Comparable in this City

    • Value Estimation by Request
      14,000 SF

      3400 Elmhurst Ln

      TRUCK TERMINAL (MOTOR FREIGHT)
      3400 Elmhurst Ln, Portsmouth, VA 23701-2641
      View Details
    • Value Estimation by Request

      3080-3108 Airline Blvd

      Distribution properties
      3080-3108 Airline Blvd, Portsmouth, VA 23701
      View Details
    • Value Estimation by Request
      3.59 Acres

      3290 Airline Blvd

      Distribution properties
      3290 Airline Blvd, Portsmouth, VA 23701
      View Details
    • Value Estimation by Request
      17,000 SF

      3303 Portsmouth Va Usa

      Distribution properties
      3303 Portsmouth Va Usa, Portsmouth, VA 23701
      View Details
    • Value Estimation by Request
      0.47 Acres

      4004 Seaguard Ave

      INDUSTRIAL (GENERAL)
      4004 Seaguard Ave, Portsmouth, VA 23701-2636
      View Details
    • Value Estimation
      $1,335,000
      21,170 SF

      1050 Hodges Fry Rd

      WAREHOUSE, STORAGE
      1050 Hodges Fry Rd, Portsmouth, VA 23701-1310
      View Details

    Similar Nearby for Sale

    • $555,000

      Office/Warehouse Asset in Portsmouth

      Well-located office/warehouse with flexible zoning and modern construction.
      628 Dunedin Rd, Portsmouth, VA 23701
      View Details
    • Contact for pricing

      Portsmouth Industrial/Flex Space Investment

      58,800 SF industrial/flex space building in Portsmouth, VA.
      4025 Seaboard Ct, Portsmouth, VA 23701
      View Details
    • Contact for pricing
      Pending

      Office/Warehouse Asset For Sale

      Well-located office/warehouse with flexible zoning and investment potential.
      628 Dunedin Rd, Portsmouth, VA 23701
      View Details
    • Contact for pricing
      17,000 SF

      Portsmouth Warehouse Space For Sale

      17,000 SF warehouse available in Portsmouth, Virginia.
      3303 Airline Blvd, Portsmouth, VA 23701
      View Details
    • Contact for pricing

      Portsmouth Industrial/Flex Space Investment

      58,800 SF industrial/flex space building in Portsmouth, VA.
      4025 Seaboard Ct, Portsmouth, VA 23701
      View Details
    • $60,000
      0.17 Acres

      Land For Sale, Portsmouth, VA

      Land available in Portsmouth, sold as is.
      21 Radford St, Portsmouth, VA 23701
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Flex Office/Warehouse Condo

      Industrial flex office/warehouse condo for lease with warehouse and office space.
      3303 Airline Blvd, Portsmouth, VA 23701
      View Details
    • $12 SF/Yr

      Portsmouth Industrial/Flex Space Available

      58,800 SF industrial/flex space with cranes and easy access.
      4025 Seaboard Ct, Portsmouth, VA 23701
      View Details
    • Contact for pricing

      Industrial Single Tenant Space

      Industrial single tenant space available for rent.
      3901 Garwood Ave, Portsmouth, VA 23701
      View Details
    • Contact for pricing

      Versatile Office/Warehouse Space Available

      Office/warehouse space with recent renovations and convenient interstate access.
      2615 Elmhurst Ln, Portsmouth, VA 23701
      View Details
    • Contact for pricing
      80,000 SF

      Portsmouth Industrial Space for Lease

      80,000 SF industrial space available for lease in Portsmouth.
      3100 Elmhurst Ln, Portsmouth, VA 23701
      View Details
    • Contact for pricing

      Retail Space Near I-264

      Retail space for lease with easy highway access and parking.
      3537-3539 Airline Blvd, Portsmouth, VA 23701
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2921 Ballard Ave
    Portsmouth, VA 23701-2719
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2921 Ballard Ave, Portsmouth, VA, 23701
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!