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    5109 Goldsboro Dr Newport News, VA 23605-1305
    Property profile & analytics

    5109 Goldsboro Dr, Newport News, VA 23605-1305

    View on Map
    • High-rise multifamily apartments
    • 7,362 SF
    • 19.76 lot acres
    Off-Market
    Last Sale Sep 13, 2022
    $86,000,000
    Property ID
    US87-2309392
    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

    • Dr. Thomas Bock / Engineering Consultant

    Property Details for 5109 Goldsboro Dr

    Year built
    1969
    Construction
    WOOD
    Lot size
    19.76 lot acres
    Zone code
    9 R-M MULTIPLE RESIDENTIA
    Property type
    High-rise multifamily apartments
    APN
    03A022 00 00000BC
    APU
    03A0220000000BC

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 13, 2022 $86,000,000 5109 Goldsboro Drive LLC Cambridge Apartments Lc Special Warranty Deed $58.6M · Berkeley Point Capital LLC
    Sep 30, 2005 $101,000 V Gremillion Levart Ltd Ptnrshp Warranty Deed $91k · Bank Of America

    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
    Newport News
    County
    Hampton City
    State
    Virginia
    Longitude
    -76.442
    Latitude
    37.0316
    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
    $588,811
    $7,625,000
    $40,001,700
    $47,626,700
    -
    $7,625,000
    $40,001,700
    $47,626,700

    Comparable in this City

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      14,784 SF

      5100 Goldsboro Dr

      HIGH-RISE APARTMENTS
      5100 Goldsboro Dr, Newport News, VA 23605-1306
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    • Value Estimation
      $47,500,000
      281,232 SF

      8645 Orcutt Ave

      HIGH-RISE APARTMENTS
      8645 Orcutt Ave, Hampton, VA 23605-1206
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    • Value Estimation by Request
      1,460 SF

      155th Mytilene Dr

      APARTMENT HOUSE (5+ UNITS)
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      100 SF

      5100 Marshall Ave

      APARTMENT HOUSE (5+ UNITS)
      5100 Marshall Ave, Newport News, VA 23605-2600
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      $750,000
      2,332 SF

      1325 76th St

      APARTMENT HOUSE (5+ UNITS)
      1325 76th St, Newport News, VA 23605
      View Details
    • Value Estimation by Request
      0.46 Acres

      603 74th St

      APARTMENT HOUSE (5+ UNITS)
      603 74th St, Newport News, VA 23605-2756
      View Details

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      Newport News Commercial Opportunity

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    Similar Nearby for Lease

    • Contact for pricing

      Jefferson Avenue Retail Space Available

      Retail spaces available from 1,200 to 29,000 square feet.
      10143-10153 Jefferson Ave, Newport News, VA 23605
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    • Contact for pricing
      100,000 SF

      Newmarket Fair Retail/Office Space

      17,574 SF End Cap Space Available
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      Retail Space Near Major Retailers

      Retail space for lease near Walmart and Food Lion.
      9976 Jefferson Ave, Newport News, VA 23605
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      Newmarket Land Parcel For Lease

      3.26 acre land parcel with frontage on Jefferson Avenue.
      6128 Jefferson Ave, Newport News, VA 23605
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    • Contact for pricing
      32,675 SF

      Retail Space in Newmarket Shopping Center

      Retail space available in high-traffic Newmarket Shopping Center.
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    • Contact for pricing
      1,500 SF

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      High-visibility location in Hampton's active commercial corridor.
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      View Details
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    Newport News, VA 23605-1305
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    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
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    5109 Goldsboro Dr, Newport News, VA, 23605
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