Office Building with Multiple
2474 E Little Creek Road Norfolk, VA 23518
2474 E Little Creek Road, Norfolk, VA, 23518
$550,000
For Sale
$550,000
COMMERCIAL - Norfolk, VA
Property Size4,110 SF
Lot Size0.30 Acres
Price / SF$133.82
Days on Market146
Property Features for 2474 E Little Creek Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- C-1
- Standard status
- Active
- Size
- 4,110 SF
- Lot size
- 0.30 Acres
Taxes and HOA fees
- Tax Annual Amount
- 4118
Utilities
- Heating system
- Heat Pump (Heating), Electric (Heating)
- Cooling system
- Central Air, Heat Pump
Building Details
- Year built
- 1961
Listing agency
Atlantic Sothebys Int'l Realty
(757) 777-9870
Listed by
Lea Marie Ngowakl
(757) 340-5555
Added: Feb 27 Updated: Jul 20 at 10:10PM Checked: Jul 23 at 5:06AM
MLS# 10622874
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Investment Insights
Based on property information with market context.
This for-sale office building offers flexible commercial space configured to support practical division, with multiple private entrances available from the front, side, and rear. The property includes front parking plus additional parking in the rear. Existing plumbing and infrastructure are already in place, which may support a variety of office-oriented uses.
The building is located at 2474 E Little Creek Road in Norfolk’s Camellia Acres corridor, zoned C-1. It is positioned near major thoroughfares including Shore Drive, Military Highway, and I-64, and is surrounded by established local businesses and destinations listed in the remarks such as COVA Brewing, Bay Local Eatery, Taste Unlimited, Norfolk Premium Outlets, and the Little Creek Naval Base.
Previously used as a law office and salon, the site’s layout and utilities can be adapted to office users seeking an adaptable setup within a C-1 commercial area.
The building is located at 2474 E Little Creek Road in Norfolk’s Camellia Acres corridor, zoned C-1. It is positioned near major thoroughfares including Shore Drive, Military Highway, and I-64, and is surrounded by established local businesses and destinations listed in the remarks such as COVA Brewing, Bay Local Eatery, Taste Unlimited, Norfolk Premium Outlets, and the Little Creek Naval Base.
Previously used as a law office and salon, the site’s layout and utilities can be adapted to office users seeking an adaptable setup within a C-1 commercial area.
Key Highlights
- Over 4,100 sq ft flexible commercial space at 2474 E Little Creek Road in Norfolk
- C‑1 zoning with potential for multi‑tenant division using multiple private front, side, and rear entrances
- Front parking plus additional parking in the rear
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $83.8k | $20.40 |
| − Vacancy | −$5.4k | −$1.33 |
| EGI | $78.4k | $19.07 |
| − OpEx | −$31.4k | −$7.63 |
| NOI | $47.0k | $11.44 |
4,110 SF · lease $20.40/SF/yr · vacancy 6.50% · expense 40.00%
Alternative Uses
Best Use
Office B
$811.9K
$710.4K – $947.2K
NOI $56,831 @ 7.0% cap · market cap 10.33%
Second Best
Healthcare Medical
$671.9K
$588.0K – $783.9K
NOI $47,036 @ 7.0% cap · market cap 8.55%
Theoretical Best
Office A
$871.9K
$762.9K – $1.02M
NOI $61,031 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Flexible office space with front and rear parking and multiple private entrances for potential single-tenant or multi-tenant use.
Where is this office units located?
The property is located at 2474 E Little Creek Road Norfolk, VA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Over 4,100 sq ft flexible commercial space at 2474 E Little Creek Road in Norfolk; C‑1 zoning with potential for multi‑tenant division using multiple private front, side, and rear entrances; Front parking plus additional parking in the rear
