Why this home stands out
Condos this close to both Norfolk Naval Shipyard and USCG Base Portsmouth are genuinely uncommon. Unit 802 sits on the eighth floor, giving it a vertical perspective that ground-level homes in the area simply can't match. At 1,965 square feet across three bedrooms and two and a half baths, it delivers the square footage of a traditional single-family home with the low-maintenance lifestyle of a condo — a trade-off that works exceptionally well for busy households.
OLDE TOWNE and the Portsmouth real estate market
475 Water Street sits along Portsmouth's historic waterfront corridor, a stretch of the city that has quietly become one of the more interesting addresses in Hampton Roads. Portsmouth is one of the oldest cities in Virginia, and the blocks surrounding Water Street carry that history in their bones — brick facades, wide sidewalks, and views across the Elizabeth River toward the Norfolk skyline. The waterfront itself is walkable, with the Olde Towne Historic District just steps away, offering a genuine neighborhood feel rather than a manufactured one. Portsmouth is a working city with deep ties to the maritime and military industries, and that identity gives it a grounded, unpretentious character. Residents here tend to appreciate authenticity over polish. The Elizabeth River Trail runs through the area, connecting pedestrians and cyclists to miles of riverfront greenway. For a condo at this address, you're not just buying square footage — you're buying into a specific kind of urban waterfront lifestyle that's hard to replicate elsewhere in the region.
What's nearby
Daily errands and leisure are well within reach from 475 Water Street. The Olde Towne neighborhood puts independent restaurants, coffee shops, and local retail within a short walk. The Portsmouth ferry terminal is nearby, offering a quick water crossing to downtown Norfolk for work, dining, or entertainment without touching a highway. Kroger and other grocery options are accessible within a few minutes by car. The Elizabeth River Trail provides an off-road path for running, cycling, or an evening walk along the water. Portsmouth City Park and several smaller green spaces are close by, and the Portsmouth Naval Medical Center is just minutes from the front door.
For different buyers
For military families relocating
For service members assigned to Norfolk Naval Shipyard or USCG Base Portsmouth, the commute from Unit 802 is measured in minutes — not miles. Both installations are essentially at the doorstep. A VA loan can make financing a condo like this straightforward, and the low-maintenance structure means fewer weekend chores and more time with family. It's a practical address for an active-duty household.
For first-time buyers
Three bedrooms, two and a half baths, and nearly 2,000 square feet on the eighth floor of a waterfront building — this is a first purchase that doesn't feel like a starter. Portsmouth's waterfront condos tend to attract buyers who want real square footage without the yard work, and Unit 802 delivers exactly that. The location near two major military installations also makes it a strong long-term hold for buyers thinking ahead.
More buyer questions
How far is 475 Water Street #802 from Norfolk Naval Shipyard?
Norfolk Naval Shipyard is approximately one minute from 475 Water Street, making it one of the closest residential addresses to the installation in the region. The proximity is a defining feature of this specific location.
How far is 475 Water Street #802 from USCG Base Portsmouth?
USCG Base Portsmouth is essentially adjacent to 475 Water Street — the commute is measured in under a minute by car. Coast Guard personnel assigned to this installation rarely find a more convenient address.
Is 475 Water Street #802 in a flood zone?
Portsmouth's waterfront areas do carry flood zone considerations, and the specific flood zone designation for this address is displayed in the FloodRisk tile on this page. Being on the eighth floor of a multi-story building does provide meaningful elevation above ground-level flood risk.
What is the square footage of Unit 802 at 475 Water Street?
Unit 802 offers 1,965 square feet of interior living space across three bedrooms and two and a half bathrooms, which is notably large for a condominium in this building and in the Portsmouth waterfront market generally.
Does 475 Water Street #802 have an HOA?
Yes, this condominium is subject to an HOA. Specific fee amounts are not displayed here, but HOA details including dues and governing documents are available through the listing and can be provided upon request.
Want to see Unit 802 in person or have questions about the building? Tom and Dariya Milan at LPT Realty know this corridor well — reach out and let's talk through it.
