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Updated Over-Under Duplex

415 Middlesex Street Norfolk, VA 23523

New

415 Middlesex Street, Norfolk, VA, 23523

$350,000

For Sale

$350,000

MULTI_FAMILY - Norfolk, VA

Property Size1,580 SF

Price / SF$221.52

AddedJul 10

Days on Market6

Last RefreshJul 15 at 8:06 am

Property Features for 415 Middlesex Street

General Information

Property type: Residential Multi Family
Property subtype: Other
Zoning: R-8
Standard status: Active
Size: 1,580 SF

Taxes and HOA fees

Tax Annual Amount: 2728

Utilities

Water front features: Waterfront

Building Details

Year built: 1915
Roof type: Shingle
Architectural style: Other

Listing agent Marty Miller

Listing office Shaffer Realty LLC Chesapeake, VA

Listing date Jul 10, 2026

MLS# 10643837

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.

Investment Insights

Based on property information with market context.

This over-under duplex offers two residential units, each with 2 bedrooms and 1 bathroom. The property includes recent updates, central air and heating, and each unit is set up so tenants pay their own utilities. The sale also includes an adjacent vacant lot, and buyers are instructed to perform their own due diligence.

The property is located at 415 Middlesex Street in Norfolk, Virginia 23523. The listing notes zoning of R-8.

Both units feature similar bedroom and bathroom layouts along with central air and heating, supporting consistent use across the duplex. Please do not disturb the tenants.

Key Highlights

Over/under duplex with waterfront feature
Built in 1915 with shingle roof
Each unit offers 2 bedrooms and 1 bathroom

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$31.3k	$19.80
− Vacancy	−$1.7k	−$1.09
EGI	$29.6k	$18.71
− OpEx	−$8.9k	−$5.61
NOI	$20.7k	$13.10

1,580 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$295.6K

$258.7K – $344.9K (±1% cap)

NOI $20,694 @ 7.0% cap · market cap 5.91%

Second Best

Apartment 5plus

$265.5K

$232.3K – $309.8K (±1% cap)

NOI $18,585 @ 7.0% cap · market cap 5.31%

Theoretical Best

Office A

$335.2K

$293.3K – $391.0K (±1% cap)

NOI $23,462 @ 7.0% cap · market cap 6.70%

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

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

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