109 Franklin Avenue in Portsmouth, Virginia 23702 is a brand-new three-bedroom, two-and-a-half-bath single-family home in the Highland Park subdivision — and in a city where most of the housing stock predates the Eisenhower administration, a 2026-built home sitting on a walkable block near the water is genuinely worth a second look.
Highland Park sits in the southern reaches of Portsmouth, a compact urban neighborhood that carries the quiet, lived-in character of a city that has been here a long time. The streets are lined with older brick ranches and modest two-stories, and the blocks feel more like a real neighborhood than a subdivision in the suburban sense — people walk to the corner store, kids know the neighbors, and the scale of everything is refreshingly human. Highland Park homes represent a cross-section of Portsmouth's working-class architectural heritage, with the occasional newer infill property — like this one — adding modern square footage to an established streetscape.
The subdivision has direct access to Highland Biltmore Park and sits adjacent to the Truxtun Historic District, which means there is genuine green space and civic history within a few minutes on foot. Portsmouth's investment in its neighborhoods has been uneven over the decades, but Highland Park benefits from its proximity to the shipyard and to the broader South Portsmouth corridor, which gives the area a stable base of owner-occupants and long-term renters. For buyers who want a new home without the commute overhead of the outer suburbs, this part of the city delivers a combination of location and value that is hard to replicate elsewhere in Hampton Roads.
Living in Portsmouth
Portsmouth occupies a particular lane in the Hampton Roads market. It is the city that serious buyers sometimes overlook in favor of Chesapeake or Virginia Beach, and that oversight tends to correct itself once they run the numbers. Portsmouth has some of the most accessible median home prices in Hampton Roads, which makes it especially appealing to first-time buyers, military families using VA financing, and investors looking for cash-flow properties near major employers. The trade-off historically has been older housing stock — a large portion of the city's homes were built before 1960 — and buyers shopping those properties should budget for inspection surprises.
What is shifting the conversation is the city's ongoing commitment to revitalization. Olde Towne Portsmouth, just north of here along the Elizabeth River, has seen meaningful appreciation over the past several years as restaurants, galleries, and boutique businesses have moved in. The waterfront trail and ferry connection to downtown Norfolk make the area feel more connected than its zip code might suggest. For buyers searching homes for sale in Portsmouth VA, 23702 offers a front-row seat to that momentum — and a 2026-built home means none of the deferred-maintenance conversation that comes with the older inventory that dominates the rest of the city.
What's Nearby
The immediate blocks around 109 Franklin Avenue are walkable in the practical, everyday sense — not the aspirational kind that requires a car for every errand. A 7-Eleven is literally a one-minute walk from the front door, which covers coffee, a quick snack, or a late-night forgotten item without starting the car. New York Pizza & Deli and Hay Hing Chinese are both within two blocks, which means weeknight dinners have low-effort options that do not involve a drive. A Dollar General less than a third of a mile away handles household basics, and there are BP stations within half a mile in two directions for fuel and convenience runs.
For anyone with a dog, GreenwoodSniffSpot is about a six-minute walk away — an off-leash spot that makes the neighborhood more livable for pet owners than the street grid alone might suggest. Highland Biltmore Park is just two-tenths of a mile from the front door, a proper neighborhood park that provides open space in a part of the city where lot sizes are modest. The Truxtun Historic District, essentially next door, adds a layer of civic character and walkable green space that most suburban subdivisions simply cannot offer. Callaghan Gym and Fitness Center is under a mile away for anyone who prefers a gym over a home workout setup.
Beyond the immediate blocks, downtown Portsmouth and the Elizabeth River waterfront are a short drive north, connecting residents to the ferry terminal, the Portside entertainment district, and the broader cultural offerings of the region. Interstate 264 and Interstate 64 are accessible within minutes, putting Virginia Beach, Norfolk, and Chesapeake all within a reasonable commute window.
Commuting to Norfolk Naval Shipyard
At 2.1 miles and roughly four minutes by car, 109 Franklin Avenue may be the closest new construction in Hampton Roads to Norfolk Naval Shipyard. That is not a minor detail for the military and civilian workforce that calls NNSY one of the country's largest and most active naval industrial complexes. The shipyard employs tens of thousands of active-duty sailors, federal civilians, and contractors, and housing within a short drive — let alone under five minutes — is a genuine operational advantage for anyone whose schedule is driven by ship schedules, watch rotations, or early morning muster times.
For PCS families arriving in the Hampton Roads area, Portsmouth is often the most financially sensible assignment location. VA loan eligibility stretches further here than in Virginia Beach or the North End of Norfolk, and a new-construction home eliminates the inspection risk that comes with the older housing stock that otherwise dominates this zip code. The 23702 area has a high concentration of active-duty and veteran households, which means the neighborhood understands the rhythms of military life in a way that more removed suburbs simply do not.
Sailors attached to commands across the river in Norfolk can reach their duty stations via the Downtown Tunnel or the Midtown Tunnel in under fifteen minutes under normal traffic conditions. Joint Base Little Creek is approximately twenty minutes northeast, and Naval Station Norfolk — the largest naval station in the world — is roughly fifteen minutes by car. For a family navigating PCS to Hampton Roads, this address puts multiple major installations within a practical daily commute.
A Walk Through the Property
Built in 2026, this is as close to a blank slate as residential real estate gets. The home is a three-bedroom, two-and-a-half-bath single-family residence with 1,435 square feet — a footprint that fits the Highland Park streetscape without overwhelming it. New construction in an established urban neighborhood means the bones are entirely modern: current energy codes, updated electrical and plumbing systems, and materials that do not carry the deferred-maintenance history that comes with older Portsmouth homes.
The half-bath on the main floor is a practical feature that buyers who have lived without one tend to appreciate quickly — it keeps guest traffic off the bedroom level and makes the layout function better for everyday use. With three bedrooms, the home accommodates a range of household configurations: a primary suite plus two additional rooms that can flex as bedrooms, a home office, or a dedicated workspace depending on the occupant's needs.
There is no HOA, which means no monthly dues, no architectural review board, and no restrictions on how the property is used within city ordinance. For investors, that is a meaningful distinction. For owner-occupants, it simply means fewer rules. The lot sits in an established urban block, and the 2026 construction date means the buyer inherits a warranty rather than a repair list.
A Day in the Life
Morning at 109 Franklin Avenue starts with a short walk to the 7-Eleven for coffee, or a few extra minutes to brew at home — the commute to the shipyard is short enough that neither option feels rushed. Afternoons might include a run through Highland Biltmore Park or a walk with the dog to GreenwoodSniffSpot. Dinner is a quick decision between the pizza place two blocks away and whatever is in the refrigerator.
On weekends, the Elizabeth River waterfront is a short drive north, with the ferry to downtown Norfolk available for an afternoon without a car. The broader Hampton Roads region — Virginia Beach oceanfront, the Great Dismal Swamp, Colonial Williamsburg an hour up I-64 — is accessible without a long commute from this central location. The city is small enough to feel manageable and large enough to keep things interesting.
For Military Families Considering This Address
For a military family PCSing to the Hampton Roads area, the math at 109 Franklin Avenue is unusually clean. Four minutes to Norfolk Naval Shipyard means no tunnel backup, no bridge anxiety, and no alarm-clock math to account for a long commute. VA loan financing on new construction is straightforward, and the absence of an HOA removes a layer of monthly overhead that adds up quickly on a military budget. The 23702 zip code has a well-established military community, and the new-construction warranty means a family on a three-year assignment is unlikely to face major repair costs mid-tour.
For Hampton Roads Families Upgrading From a Starter Home
A family moving up from a smaller or older home will find that 2026 construction in an established neighborhood hits a specific sweet spot. There is no renovation project waiting on the other side of closing, no deferred maintenance to budget for, and no older systems approaching end of life. The three-bedroom layout with a dedicated half-bath represents a functional step up from a two-bedroom starter, and the Highland Park location keeps the price point accessible relative to comparable new builds in Chesapeake or Virginia Beach.
For First-Time Buyers Exploring Portsmouth
First-time buyers looking at houses for sale in Portsmouth VA will find that 109 Franklin Avenue removes most of the risk factors that make older inventory in this city complicated. New construction means no surprises behind the walls, no outdated systems, and a builder warranty that covers the early years of ownership. The no-HOA structure keeps monthly costs simple. And the location — walkable, close to the shipyard, and positioned near the city's revitalizing waterfront corridor — means the investment has a logical appreciation thesis beyond just the building itself.
For Buyers Comparing New Construction vs. Historic Homes in Portsmouth
Portsmouth has a legitimate historic housing stock, and Olde Towne in particular attracts buyers who want character, original woodwork, and the kind of architectural detail that new construction cannot replicate. But that character comes with a cost: older systems, higher inspection risk, and renovation budgets that can expand unexpectedly. A 2026-built home in Highland Park offers the city's location advantages — proximity to the shipyard, waterfront access, central Hampton Roads position — without the project overhead. For buyers weighing charm against practicality, this address makes the case for practicality in a city where the older inventory can be genuinely demanding.
Tom and Dariya Milan at LPT Realty specialize in helping buyers navigate exactly this kind of decision — new versus historic, urban versus suburban, VA financing versus conventional. Whether 109 Franklin Avenue is the right fit or a useful reference point in a broader search, reach out at vahome.com or by phone to talk through what the Portsmouth market looks like right now and where this address fits within it.
Summary generated by AI from public records and publicly available information.
