1501 E Little Creek Rd Norfolk, VA 23518
For Sale
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This exceptional commercial property, located at 1501 E Little Creek Road in Norfolk, VA, presents a unique investment opportunity. Situated on a 0.72-acre lot, this building boasts a prime location with excellent visibility on a heavily traveled road, ensuring high traffic flow and potential for significant customer reach. The property is conveniently equipped with sidewalks, catering to pedestrian traffic and walk-in customers. Currently zoned C2, the property offers versatile usage options, including restaurant, retail, or general business operations. Previous uses include a check cashing and payday loan business, suggesting adaptability to various commercial ventures. Other potential uses, such as a pawn shop or thrift store, are also feasible given the location and zoning. The property features a recently repaved parking lot, providing ample parking for customers and employees. Interior improvements include fresh paint and new carpeting. The building is being sold "as is," allowing for potential buyers to customize the space to their specific business needs. While a conditional use permit is required for dealership operations, the property's strategic location and ample parking make it a strong candidate for such a venture. This is a rare opportunity to acquire a well-located commercial property in a thriving area of Norfolk, offering significant potential for growth and return on investment. The asking price is $895,000.
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Western Union Bank Credit Union
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
C-2 · Norfolk, VANorfolk. Always verify with local authorities before improvements.
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.