Commercial Real Estate in Portsmouth, Virginia, presents a unique opportunity for investors seeking to diversify their portfolios. With a rich history dating back to the early 17th century, Portsmouth offers a blend of historic charm and modern amenities, making it an attractive location for businesses and residents alike. Commercial Real Estate in Portsmouth can represent a wide range of investments, from office buildings and retail spaces to industrial properties and hotels. The city's strategic location, with access to major transportation facilities such as the Norfolk International Airport and Interstate 264, makes it an ideal hub for businesses seeking to connect with regional and national markets. Additionally, Portsmouth's strong sports presence, cultural attractions, and educational institutions, including Old Dominion University and Tidewater Community College, contribute to its appeal as a desirable location for businesses and residents. With its unique blend of history, amenities, and infrastructure, Portsmouth is an attractive destination for Commercial Real Estate investors.
Portsmouth's Commercial Real Estate market offers a diverse range of opportunities, with 33 listings currently available. The average price per square foot for Commercial Real Estate in Portsmouth is $190 USD, with an average size of 31,203 square feet. The largest property available is 628,963 square feet, offering ample space for businesses of all sizes. In addition to Commercial Real Estate, Portsmouth also offers Industrial Properties, such as the APM "MAERSK" marine terminal, which provides a strategic location for businesses involved in international trade. Apartment Buildings, like the Hawthorn Hotel & Suites at The Governor Dinwiddie Hotel, offer a unique blend of history and modern amenities. Office Properties, such as those found in the Olde Towne Business and Historical District, provide a professional and convenient location for businesses. Hotels, like the Rivers Casino Portsmouth, offer a unique blend of entertainment and accommodation options. With its diverse range of Commercial Real Estate opportunities, Portsmouth is an attractive destination for businesses and investors alike.
What financing options are available for purchasing commercial real estate?
When it comes to financing options for purchasing commercial real estate in Portsmouth, Virginia, there are several alternatives to consider, including:
- Traditional bank loans, which often require a significant down payment and a solid credit history;
- Commercial mortgage-backed securities (CMBS) loans, which offer competitive interest rates and flexible terms;
- Private money lenders, which can provide quick access to capital, but often at higher interest rates and with stricter terms.
It's essential to carefully evaluate these options and consider factors such as interest rates, repayment terms, and fees to ensure the best fit for your commercial real estate investment in Portsmouth.
How do cap rates factor into commercial real estate purchases?
When considering commercial real estate purchases in Portsmouth, Virginia, cap rates play a crucial role in determining the potential return on investment. With an average cap rate of 7.21%, investors can gauge the property's income-generating potential, making it essential to understand what is a cap rate and how it affects their investment decisions, as explained in our article at what is a cap rate.
In Portsmouth, where there are 33 available listings of commercial real estate, investors can analyze the cap rate in relation to the average price per square foot of $190 USD and the average size of 31,203 square feet to make informed decisions about their commercial property investments.
What is considered a commercial property?
In Portsmouth, Virginia, a commercial property is typically defined as a building or land used for business or commercial purposes, such as office spaces, retail stores, restaurants, warehouses, and other types of properties that generate income. Examples of commercial properties in Portsmouth include the Rivers Casino Portsmouth, the Olde Towne Business and Historical District, and the various office buildings and retail spaces along U.S. Route 17 and U.S. Route 58.
