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    The Largest CRE Database in the US with Over 1 Million Listings

    2810 Glen Ave Norfolk, VA 23513

    Sponsored
    For Sale
    $429,000

    Purchase,Commercial/Industrial - Norfolk, VA

    Property size:
    3,984 SF
    Lot size:
    0.24 Acres
    Days on Market:
    2
    Last Refresh:
    Jan 29 at 12:06 am

    Property Features for 2810 Glen Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    SF-10
    Parking features
    Off Street
    Interior features
    Security Sys/Own
    Size
    3,984 SF
    Lot size
    0.24 Acres

    Utilities

    Heating system
    Heat Pump (Heating), Zoned (Heating)
    Cooling system
    Heat Pump, Zoned

    Building Details

    Year built
    1936
    Flooring type
    Concrete
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Julia Shea

    Keller Williams Greenbrier (757) 361-0106

    Listing agent Julia Shea (757) 361-0106

    Listing date Jan 28, 2026

    MLS# 10598795 Listing URL

    Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Norfolk Warehouse with Residential Potential

    This unique property presents an opportunity to live where you work. It is located in a residential neighborhood and has grandfathered use as an industrial warehouse. The warehouse provides easy access to all highways. Currently used by a custom home builder, the warehouse includes ample floor space, cabinet storage, and shelving. It also features an exhaust system for woodworking and a designated paint booth heated by 500k BTUs. The property contains a half bath, a kitchen area with a refrigerator and sink, and a private office. Four heat pump systems are in place. Ingress and egress are available around the building, and a parking area is located in the rear. The lot size is 0.24 acres. The property has 3984 square feet of space and is zoned SF-10. The property is being sold as is, and the buyer is responsible for due diligence. There is also the option to purchase the single-family home next door.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wallace Construction Co Construction Company

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Global Marine Industrial Services, LLC, Iron Mountain, Allsafe Self Storage, Security Storage & Van Co., Allied Van Lines

    Location Insight

    • Map
    • Local Demand
    City
    Norfolk
    County
    Norfolk
    State
    Virginia
    Longitude
    -76.2435766
    Latitude
    36.8741824

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    FAQs

    What type of property is this?
    Warehouse - Warehouse in residential area, live where you work opportunity.
    Where is this warehouse located?
    The property is located at 2810 Glen Ave Norfolk, VA.
    What is the asking price?
    The asking price for this property is $429,000.
    What are key features of this property?
    This property features: - Grandfathered industrial warehouse use in a residential neighborhood.; - Easy access to all highways.; - Ample warehouse floor space with cabinet storage and shelving.
    (757) 361-0106
    Request Owner's contact information
    2810 Glen Ave Norfolk, VA 23513
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    Norfolk, VA 23513
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2810 Glen Ave Norfolk, VA 23513
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    Listing Contact
    Julia Shea
    (757) 361-0106
    Learn more
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