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    3345 N Military Hwy Norfolk, VA 23502

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    For Sale
    $1,695,000

    Profitable auto business with dealership, repair shop, and tire services.

    Property size:
    6,300 SF
    Lot size:
    0.57 Acres

    Property Features for 3345 N Military Hwy

    General Information

    Size
    6,300 SF
    Lot size
    0.57 Acres

    Source: Long & Foster Real Estate | James River Newport News Agent Kyle Hause

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

    Overview

    Established Auto Business For Sale

    This property features an established business with a full-scale used car dealership, a full-service repair shop, and a tire shop. The repair garage is permitted and includes multiple bays. The business has a substantial tire inventory and all necessary equipment. Office space is ample, including a counter and desk area and a sitting area. There are two restrooms, both public and private, with one indoor and one outdoor. The property also includes two sheds and a canopy. The business generated $4 million in revenue in 2023. The location is near I-64, Norfolk Airport, and Norfolk Commerce Park, and is in proximity to other automobile dealerships. The property size is 6,300 square feet. Car inventory is negotiable.
    Insight Report Location Intelligence

    Current Use by Public Records

    Bud's Used Tires ... Used Tire Shop MS MOTORWORKS Auto Repair Shop M&M Tires and Auto ... Tire Shop Ready 2 Roll Auto Broker

    Suggested Use

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

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

    Similar Places Nearby

    Chasen's Highway Car Troopers, Southern dodge chrysler, A to B Towing & Recovery, H & S Automotive & Repair, Southern Collision Center - Norfolk

    Location Insight

    • Map
    • Local Demand
    City
    Norfolk
    County
    Norfolk
    State
    Virginia
    Longitude
    -76.2181955
    Latitude
    36.8867698

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    FAQs

    What type of property is this?
    Auto shop - Profitable auto business with dealership, repair shop, and tire services.
    Where is this auto shop located?
    The property is located at 3345 N Military Hwy Norfolk, VA.
    What is the asking price?
    The asking price for this property is $1,695,000.
    What are key features of this property?
    This property features: - Established business with $4 million in revenue in 2023 and excellent reputation (5-star Google reviews).; - Includes a full-scale used car dealership, repair shop, and tire shop.; - Sale includes business name (optional), all equipment, and updated licenses.
    (757) 727-0069
    Request Owner's contact information
    3345 N Military Hwy Norfolk, VA 23502
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    Norfolk, VA 23502
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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
    3345 N Military Hwy Norfolk, VA 23502
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