Auto Repair Shop with Vehicle
For Sale
$600,000
1231 Norview Avenue, Norfolk, VA 23513
Commercial/Industrial, Norfolk, VA
Property Size2,200 SF
Lot Size0.65 Acres
Price / SF$272.73
Days on Market8
Property Features for 1231 Norview Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Subdivision
NORVIEW
Standard status
Active
Size
2,200 SF
Lot size
0.65 Acres
Taxes and HOA fees
Tax Annual Amount
5764
Utilities
Cooling system
Wall/Window Unit(s)
Building Details
Year built
1966
Listing Agency:
Iron Valley Real Est Norfolk
Listed By:
John Mclaren
(757) 900-4873
Added: Oct 19
Changed: Oct 22
Last Checked: Oct 26 at 1:06PM
MLS# 10658397
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.
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Investment Insights
Based on property information with market context.
The auto repair property includes a 2,200-square-foot building on 0.6483 acres. The site accommodates over 50 vehicles for parking, storage, and vehicles awaiting service. Wall/window unit cooling serves the building, which was built in 1966.
Zoned C-2, the real estate is offered only in a combined purchase with the operating auto repair business.
Zoned C-2, the real estate is offered only in a combined purchase with the operating auto repair business.
Key Highlights
- 2,200‑square‑foot building on 0.6483 acres
- Space for over 50 vehicles
- C‑2 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,982
Cap Rate
4.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$499,640
$499.6K
Cap Rate 7%
$356,886
$356.9K
Cap Rate 9%
$277,578
$277.6K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$37.5K $17.04/SF
− Vacancy
−$1.8K −$0.82/SF
EGI
$35.7K $16.22/SF
− OpEx
−$10.7K −$4.87/SF
NOI
$25.0K $11.36/SF
Area
Norfolk, VA
Vacancy
4.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$499,640
Cap Rate 7%
$356,886
Cap Rate 9%
$277,578
Alternative Uses
Best Use
Retail
$356.9K
$312.3K – $416.4K
NOI $24,982 @ 7.0% cap · market cap 4.16%
Second Best
Industrial
$205.9K
$180.2K – $240.3K
NOI $14,415 @ 7.0% cap · market cap 2.40%
Theoretical Best
Office A
$466.7K
$408.4K – $544.5K
NOI $32,669 @ 7.0% cap · market cap 5.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
413
Businesses Nearby
53k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 45%
McDonald's
Dining
29,478 visits/mo
0.2 miles
Family Dollar
Shops & Services
9,572 visits/mo
0.1 miles
7-Eleven
Shops & Services
5,269 visits/mo
0.2 miles
BP
Shops & Services
4,782 visits/mo
0.2 miles
Marathon Petroleum
Shops & Services
4,159 visits/mo
0.0 miles
Demographics for 23513, VA
29,105
Population
13,040
Households
2.2
Avg Household Size
35
Median Age
22%
College-Educated
87%
High-School Grad
5.1 sq mi
ZIP Area
5,707
Density / Sq Mi
$66,875
Median Household Income
$39,547
Median Earnings
$1,187
Median Rent
$226,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Norfolk, VA
Similar Off Market Nearby
- H & S Automotive & Repair — 2729 Azalea Garden Rd, Norfolk, VA 23513
- A to B Towing & Recovery — 2745 azalea garden rd, norfolk, va 23513
- Tommy's Complete Auto Services — 5766 Chesapeake Blvd, Norfolk, VA 23513
- p tires new and used tires — 5766 Chesapeake Blvd, Norfolk, VA 23513
- Chip's Auto Repairs — Norfolk, VA 23513
Frequently Asked Questions
What type of property is this?
Auto shop - The property is available only as part of a purchase that includes the operating repair business.
Where is this auto shop located?
The property is located at 1231 Norview Avenue Norfolk, VA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 2,200‑square‑foot building on 0.6483 acres; Space for over 50 vehicles; C‑2 zoning
