Financial
Distress signals
Property profile

5700 Lake Wright Dr Norfolk, VA 23502

FOR LEASE
Office buildings
Property ID
US87-3367548
91,374 SF 5.48 ac lot Built 1999
Last sale Feb 2019 · $24,900,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 7-yr Hold Held for 7 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
Saved · see the list in your Dashboard
Market Trends Soon

Property summary

AI-generated overview

This exceptional Class-A office space, located at 5700-5800 Lake Wright Dr. in Norfolk's Lake Wright Executive Center, offers 4 suites ranging from 1,879 to 7,730 square feet. Enjoy modern, open floor plans with abundant natural light and scenic views. The property boasts advanced amenities including high-speed internet, energy-efficient climate control, and 24/7 building access. Ample on-site parking and convenient access to I-64 and I-264 ensure easy commutes throughout Hampton Roads. The

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

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

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2024

What does the county charge?
$167k
Tax billed · 2024
Assessed value$13.34M
Assessed land$2.68M
Assessed improvement$10.66M
Effective rate1.25%

Value estimate

· Sep 2026
$18.48M
$16.63M – $20.33M
CAP approach$20.74M
Submarket $/SF estimate$23.96M
NOI build-up
Gross scheduled income$73k
Vacancy & credit loss−$6k
Operating expenses−$17k
NOI · 202,897.80% cap applied$51k

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?
202,897.80%
$51k 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 agency18.7
Dental Office15.1
Law Firm13.6

Location

5700 Lake Wright Dr Norfolk, VA 23502
County assessor Recorded deeds · 3 transfers 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
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
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
240 Corporate, Norfolk, VA 23502-4900 $12,970,000 Sep 2019 94,027 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
6 properties of the same type nearby
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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