Despite continued interest in neighborhood correlates of physical activity, few self-report questionnaires exist that capture neighborhood-based physical activity. Furthermore, there is little evidence about the measurement validity of self-report measures of neighborhood-based physical activity. Notably, self-reported neighborhood physical activity has not been validated against combined accelerometer and global positioning system (GPS)-assessed physical activity. Thus, the purpose of this study was to estimate the concurrent validity of a recently adapted tool for capturing self-reported neighborhood-based physical activity (i.e., the Neighborhood International Physical Activity Questionnaire; N-IPAQ). Adults (n = 75) from four Calgary (Alberta, Canada) neighborhoods wore an accelerometer and GPS monitor for 7 consecutive days after which they self-reported their physical activity from the past week using the N-IPAQ. Bland-Altman plots and Spearman correlations estimated the concurrent validity between N-IPAQ and accelerometer/GPS physical activity (estimated for the administrative boundary, 400-m and 800-m radial buffers). The mean (95% Confidence Interval [CI]) difference between the N-IPAQ and accelerometer/GPS estimated total daily minutes of physical activity differed for the 400-m (1.9 min, −26.2 to 29.9), 800-m (10.6 min, −16.0 to 37.1), and administrative boundary buffers (14.7 min, −11.5 to 41.0). The strongest Spearman correlations were found between the N-IPAQ and 800-m radial buffer accelerometer-captured vigorous-intensity physical activity (r = .41 [95% CI: .18 to .60]), and the N-IPAQ and administrative boundary accelerometer-captured vigorous-intensity physical activity (r = .43 [95% CI: .20 to .62]). Our findings suggest that the N-IPAQ provides good estimates of neighborhood-based physical activity and could be used when investigating neighborhood correlates of physical activity.