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    516-522 Dinwiddie St Norfolk, VA 23523

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    For Sale
    $925,000

    12-unit brick apartment building with value-add potential in Norfolk.

    Property size:
    9,536 SF

    Property Features for 516-522 Dinwiddie St

    General Information

    Size
    9,536 SF

    Building Details

    Year built
    1912

    Source: Leo Sutton Agent Leo Sutton

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Brick Apartment Building Value-Add Opportunity

    This 3-story brick apartment building features 12 large 1-bedroom apartments and a full basement, presenting a value-add opportunity. The property is being offered As-Is. Located in the heart of the Hampton Roads region, DINWIDDIE PLACE APARTMENTS offer a prime investment opportunity for prospective Multifamily/Low-Rise/Garden investors. The area boasts proximity to key attractions like Norfolk Naval Shipyard, BAE Systems Norfolk Ship Repair, Colonna’s Shipyard, Virginia Zoo, and Ocean View Beach Park, making it an appealing location for potential Tenants. With its convenient access to major transportation routes, including Interstates I464 and I264, and vibrant local amenities, the area presents an exciting prospect for those looking to invest in the thriving Norfolk, VA market. The tenants are responsible for all of their separately metered utilities, while the landlord covers common area lighting. The property is professionally managed and offers easy access to shipyards and downtown Norfolk. The building has a total size of 9,536 square feet.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Norfolk
    County
    Norfolk
    State
    Virginia
    Longitude
    -76.2817903
    Latitude
    36.8331747

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    FAQs

    What type of property is this?
    Apartment building - 12-unit brick apartment building with value-add potential in Norfolk.
    Where is this apartment building located?
    The property is located at 516-522 Dinwiddie St Norfolk, VA.
    What is the asking price?
    The asking price for this property is $925,000.
    What are key features of this property?
    This property features: - Value-add opportunity in a desirable location within the Hampton Roads region.; - 12-unit brick apartment building with large 1-bedroom apartments.; - Tenants pay all utilities (separately metered), reducing landlord expenses.
    (757) 469-1537
    Request Owner's contact information
    516-522 Dinwiddie St Norfolk, VA 23523
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    Realmo Value Estimation

    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.

    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.

    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
    516-522 Dinwiddie St Norfolk, VA 23523
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