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225 W Olney Rd Norfolk, VA 23510

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For Sale
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Located in Arts Neon District, close to Downtown and Ghent.

Lot size:
1.91 Acres

Property Features for 225 W Olney Rd

General Information

Lot size
1.91 Acres

Source: JMS Commercial Agent John Merenda

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


Overview

Land in Arts Neon District

This property is located in the Arts Neon District, one block from Downtown and Ghent, and across the street from the Chrysler Museum. It is in close proximity to the Central Business District and offers easy access to some of the area’s largest employers. The zoning is D-AD, which allows for 281 apartment units. The location benefits from excellent lease-up and rent comps from existing downtown apartments. The current tenant will provide an annual income of $651,000 during the site plan approval process. Union Bank is offering a construction loan for a qualified purchaser.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Jennifer L. Barnes, ... Doctor Rebecca-Jo Young Counselor Dr. Susan B. ... Internist Susan Powell Social Worker Latonia V. Edmonds, ... Social Worker

Suggested Use

Restaurant Realty agency Building Supply Spa & Massage Dental Office Law Firm Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

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

Location Insight

  • Map
  • Local Demand
City
Norfolk
County
Norfolk
State
Virginia
Longitude
-76.2917895
Latitude
36.8559836

FAQs

What type of property is this?
Land - Located in Arts Neon District, close to Downtown and Ghent.
Where is this land located?
The property is located at 225 W Olney Rd Norfolk, VA.
What are key features of this property?
This property features: - Zoned for 281 apartment units (D-AD zoning).; - Current tenant provides $651,000 annual income during site plan approval.; - Excellent lease up and rent comps from existing downtown apartments.
More about this property
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