Financial
Distress signals
Property profile

999 Waterside Dr Norfolk, VA 23510

FOR LEASE
Office buildings
Property ID
US87-3369139
421,856 SF 2.64 ac lot Built 1987
Last sale Dec 2018 · $79,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 7-yr Hold Held for 7 years. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

This Class A, 13,624 square foot office building, located at 999 Waterside Drive, Suites 2525 & 2600, Norfolk, VA 23510, offers flexible workspace solutions in Norfolk County. The property features a mix of executive office, coworking, and creative office spaces, perfect for a variety of business needs. With 350 total suites, there are options for businesses of all sizes. Currently, 5,970 square feet of space is available, with minimum divisible space starting at 10 square feet and a maximum

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?
$1.11M
Tax billed · 2024
Assessed value$78.86M
Assessed land$8.62M
Assessed improvement$70.24M
Effective rate1.41%

Value estimate

· Sep 2026
$52.38M
$47.14M – $57.61M
Submarket $/SF estimate$41.09M
NOI build-up
Gross scheduled income$324k
Vacancy & credit loss−$26k
Operating expenses−$75k
NOI · 745,536.67% cap applied$224k

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?
745,536.67%
$224k 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?
D-1
JurisdictionNORFOLK CITY

Location intelligence

Which uses thrive at this corner?
Best fit: Building Supply
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Building Supply18.2
Auto Parts Store17.8
Wholesale Shop17.4

Location

999 Waterside Dr Norfolk, VA 23510
County assessor Recorded deeds · 2 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
223 City Hall, Norfolk, VA 23510-1724 $4,800,000 Jul 2024 68,198 SF
838 Granby, Norfolk, VA 23510-2051 $1,555,000 May 2024 7,200 SF
118 Bute, Norfolk, VA 23510-1906 $1,650,000 Jul 2022 9,712 SF
413 York, Norfolk, VA 23510-1114 $460,000 Jul 2021 4,595 SF
400 Granby, Norfolk, VA 23510-1970 $3,700,000 Jan 2020 88,836 SF
1008 Granby, Norfolk, VA 23510-2505 $365,000 Sep 2019 6,003 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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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