Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    900 Commonwealth Pl Virginia Beach, VA 23464
    Back to Search
    Property profile & analytics

    900 Commonwealth Pl Virginia Beach, VA 23464

    View on Map
    • Office buildings
    • 20,052 SF
    • 1.09 lot acres
    For Lease
    $14 SF/Yr
    View Listing →
    Office Space Available July 2024 For Lease
    $14 SF/Yr
    4,421 SF

    Office Space Available July 2024

    First floor office suite available in July 2024.

    900 Commonwealth Pl, Virginia Beach, VA
    View Listing
    Property ID
    US87-0071712
    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
    $2,370,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Green Light Towing Service / Auto Repair Shop
    • ngnly - Next Generation Networking / Marketing & Advertising / (Bike/Boat/Book/etc) Store
    • SEOgine / Marketing & Advertising
    • Cleverlane CS LLC / Business Management Consultant / Notary Public
    • Legal Evidence Corp / IT Consulting Firm / Tech Support Center

    Property Details for 900 Commonwealth Pl

    Year built
    1975
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.09 lot acres
    Property size
    20,052 SF
    Zone code
    B2
    Property type
    Office buildings
    APN
    14564294630000
    APU
    14564294630000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,240,000
      ML approach
      $2,310,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,847,000
      Market price range: $2.44M - $5.33M
      AI Estimate
      $3,005,000
      Market price range: $1.71M - $5.50M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,700,000
      Current use
      INDUSTRIAL (GENERAL)
      $3,040,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Virginia Beach
    County
    Virginia Beach City
    State
    Virginia
    Longitude
    -76.2042
    Latitude
    36.8096
    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
    2024
    $20,116
    $470,500
    $1,561,400
    $2,031,900
    -
    $470,500
    $1,561,400
    $2,031,900

    Comparable in this City

    • Value Estimation
      $6,895,000
      29,556 SF

      5320 Providence Rd

      OFFICE BUILDING (MULTI-STORY) • 29,556 SF
      5320 Providence Rd, Virginia Beach, VA 23464-4122
      View Details
    • Value Estimation
      $3,020,000
      11,926 SF

      5301 Providence Rd

      OFFICE BUILDING (MULTI-STORY) • 11,926 SF
      5301 Providence Rd, Virginia Beach, VA 23464-4128
      View Details
    • Value Estimation
      $1,025,000
      4,033 SF

      6620 Indian Riv Rd

      OFFICE BUILDING • 4,033 SF
      6620 Indian Riv Rd, Virginia Beach, VA 23464-3442
      View Details
    • Value Estimation
      $650,000
      2,448 SF

      5228 Indian Riv Rd

      OFFICE BUILDING • 2,448 SF
      5228 Indian Riv Rd, Virginia Beach, VA 23464-6171
      View Details
    • Value Estimation by Request
      2,684 SF

      6001 Providence Rd

      OFFICE BUILDING • 2,684 SF
      6001 Providence Rd, Virginia Beach, VA 23464-3808
      View Details
    • Value Estimation
      $3,025,000
      14,352 SF

      1932 Kempsville Rd

      OFFICE BUILDING (MULTI-STORY) • 14,352 SF
      1932 Kempsville Rd, Virginia Beach, VA 23464-6953
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Centerville Turnpike Flex Space Available

      Flex space suites available for purchase on Centerville Turnpike.
      1620 Centerville Tpke, Virginia Beach, VA 23464
      View Details
    • Contact for pricing

      1.98 Acres of Land

      1.98 acres of land available for sale.
      1861 Kempsville Rd, Virginia Beach, VA 23464
      View Details
    • Contact for pricing
      3,397 SF

      McDonald's in Virginia Beach, VA

      Leased to McDonald’s since 2001 with renewal options.
      5236 Fairfield Blvd, Virginia Beach, VA 23464
      View Details
    • $90,000
      0.11 Acres

      Residential Lot in Virginia Beach

      Prime residential lot ready for building in Virginia Beach.
      Carrington Ave, Virginia Beach, VA 23464
      View Details
    • Contact for pricing
      4,817 SF

      Chick-fil-A NNN Investment Opportunity

      NNN leased Chick-fil-A for sale in Virginia Beach.
      5409 Indian River Rd, Virginia Beach, VA 23464
      View Details
    • $2,600,000

      Land for Sale

      Land available for sale in Virginia Beach, Virginia.
      1861 Kempsville Rd, Virginia Beach, VA 23464
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Single-Story Office Building For Rent

      Office building in a three-building park, convenient location.
      1446 Kempsville Rd, Virginia Beach, VA 23464
      View Details
    • Contact for pricing

      Cascades Retail Shops For Lease

      Mixed-use development at Cascades retail shops available for lease.
      5705 Lynnhaven Pkwy, Virginia Beach, VA 23464
      View Details
    • Contact for pricing

      Office Condo in Virginia Beach

      Office condominium for lease in Kempsville submarket, Virginia Beach.
      5265 Providence Rd, Virginia Beach, VA 23464
      View Details
    • Contact for pricing
      4,421 SF

      Office Space Available July 2024

      First floor office suite available in July 2024.
      900 Commonwealth Pl, Virginia Beach, VA 23464
      View Details
    • Contact for pricing

      Office Condo for Lease

      Office condominium available for lease in Virginia Beach.
      5265 Providence Rd, Virginia Beach, VA 23464
      View Details
    • Contact for pricing
      18,000 SF

      Office Space in Virginia Beach

      Available office space for lease in Virginia Beach, VA.
      Indian Lakes Blvd, Virginia Beach, VA 23464
      View Details
    View Listing
    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.
    900 Commonwealth Pl
    Virginia Beach, VA 23464
    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
    900 Commonwealth Pl, Virginia Beach, VA, 23464
    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!