240 Corporate BlvdNorfolk, VA 23502

Property Details for 240 Corporate Blvd

Year built

1989

Lot size

4.90 AC

Property size (Sq ft)

94,027 SF

Zone code

O-1

Property type

Office buildings

APN

36820230

APU

36820230

Description

Riverside Corporate Center offers exceptional Class A office space in the heart of Hampton Roads, Virginia. This single, four-story building boasts 94,027 square feet situated on 4.9 acres of land, providing ample parking and convenient access. Built in 1989, the property features a multiple tenancy structure with flexible suite sizes ranging from 1,000 to 20,000 square feet, catering to diverse business needs. Its prime location at the intersection of I-64 and I-264 ensures effortless commuting for employees and clients. The property benefits from excellent public transportation access, with immediate proximity to The Tide Light Rail at Military Highway Station and an HRT bus stop conveniently located nearby. Businesses will appreciate the abundance of nearby amenities, including a variety of restaurants and retail options. Furthermore, the property's strategic location places it near the Military Circle Mall, currently undergoing a significant mixed-use redevelopment project, promising future growth and enhanced surrounding infrastructure. This presents a unique opportunity to establish a presence in a thriving and dynamic business environment. The building's modern design and convenient location make it an ideal choice for businesses seeking a prestigious and functional workspace. Contact us today to explore available spaces and learn more about this exceptional property.

• CAP approach

  CAP return

  Valuation

  6%

  $19,855,406

  6.5%

  $18,328,066

  7%

  $17,018,918

• Comparable approach

  Method

  Valuation

  Relative Method

  $12,047,987

  Geo Method

  $15,703,449

• Alternative Use

  Use

  Valuation

  Residential

  $22,726,802

  Hospitality

  $20,817,628

  Educational

  $17,320,022

  Medical

  $17,915,684

  Retail

  $26,942,258

Location Insight

City

Norfolk

County

Norfolk City

State

Virginia

Latitude

36.8375

Longitude

-76.2118

CBSA code

47260

CBSA name

VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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