5700 Lake Wright DrNorfolk, VA 23502

Property Details for 5700 Lake Wright Dr

Year built

1999

Lot size

5.48 AC

Property size (Sq ft)

91,374 SF

Zone code

O-1

Property type

Office buildings

APN

80987614

APU

80987614

Description

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 beautifully landscaped campus features walking trails, creating a tranquil yet professional environment. Its proximity to hotels, restaurants, and retail centers adds further convenience. This prestigious location in a premier business hub offers the ideal blend of modern design, top-tier amenities, and strategic accessibility. Three months of free rent are included, and the rate encompasses utilities, building services, and property expenses. This is an unparalleled opportunity to establish or expand your business in a highly desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $19,295,178

  6.5%

  $17,810,934

  7%

  $16,538,725

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,708,050

  Geo Method

  $15,260,372

• Alternative Use

  Use

  Valuation

  Residential

  $22,085,558

  Hospitality

  $20,230,252

  Educational

  $16,831,334

  Medical

  $17,410,188

  Retail

  $26,182,074

Location Insight

City

Norfolk

County

Norfolk City

State

Virginia

Latitude

36.8796

Longitude

-76.2081

CBSA code

47260

CBSA name

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

Property Tax & Assessments

FAQs

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