Historic Industrial Warehouse
1836 Church Street Norfolk, VA 23504
For Sale
$1,495,000
Two fenced warehouses totaling four overhead cranes, originally built as a trolley repair station and now used for equipment sales.
Property Size20,528 SF
Lot Size1.22 Acres
Price / SF$72.83
Days on Market442
Property Features for 1836 Church Street
General Information
- Standard status
- Active
- Size
- 20,528 SF
- Lot size
- 1.22 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1886
Listing Agency:
Creed Realty
(757) 502-4070
Listed By:
Robert Waring · License #0225057267
Source:
Exitrealty
Added: May 8, 2025
Changed: Jul 23
Last Checked: Jul 23 at 8:30AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Creed Realty
Investment Insights
Based on property information with market context.
This historic industrial package includes two warehouses that were originally built in 1886 as a trolley repair station and later used as horse stables. The property retains original arched windows and beams and features four 2-ton overhead cranes, with two cranes per warehouse. The buildings are described as being in good condition, and the current use includes restaurant equipment sales, with the business and inventory offered separately.
The site totals 1.22 acres and is completely fenced with two access points. The property fronts Church Street, with O’Keefe Street along the rear; Chase Street bisects the south side and provides a lower-traffic back entrance. The historical warehouse building is positioned along the right-hand lot line at the front of the property.
The fenced layout and on-site acreage allow for flexibility for storage and potential new build or yard uses. The remarks also note that the Railroad District Overlay may support use flexibility, and that federal, state, and local Opportunity & Enterprise Zone tax credits and grants may be available to a new owner.
The site totals 1.22 acres and is completely fenced with two access points. The property fronts Church Street, with O’Keefe Street along the rear; Chase Street bisects the south side and provides a lower-traffic back entrance. The historical warehouse building is positioned along the right-hand lot line at the front of the property.
The fenced layout and on-site acreage allow for flexibility for storage and potential new build or yard uses. The remarks also note that the Railroad District Overlay may support use flexibility, and that federal, state, and local Opportunity & Enterprise Zone tax credits and grants may be available to a new owner.
Key Highlights
- Historic 1886 trolley repair station building with original arched windows and beams
- Two fenced warehouses on a 1.22+ acre property package with four 2‑ton overhead cranes (2 per warehouse)
- Two access points; fronts Church St, backs to O'Keefe St, with Chase St bisecting the south side for a low‑traffic back entrance
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $199.5k | $9.72 |
| − Vacancy | −$7.4k | −$0.36 |
| EGI | $192.1k | $9.36 |
| − OpEx | −$57.6k | −$2.81 |
| NOI | $134.5k | $6.55 |
20,528 SF · lease $9.72/SF/yr · vacancy 3.70% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.33M
$2.91M – $3.89M
NOI $233,105 @ 7.0% cap · market cap 15.59%
Second Best
Warehouse
$2.33M
$2.04M – $2.72M
NOI $163,327 @ 7.0% cap · market cap 10.92%
Theoretical Best
Office A
$4.35M
$3.81M – $5.08M
NOI $304,830 @ 7.0% cap · market cap 20.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Kenney's Restaurant Equipment
Big Box & Wholesale Store
Similar Off Market Nearby
- Extra Space Storage — 2215 Granby St, Norfolk, VA 23517
- Self-Storage at U-Haul — 1301 Monticello Ave, Norfolk, VA 23510
- AAAA Self Storage — 408 E 18th St, Norfolk, VA 23504
- BRB Storage/Maltby Ave Partners — 1402 Maltby Ave, Norfolk, VA 23504
- Extra Space Storage — 1108 Tidewater Dr, Norfolk, VA 23504
FAQs
What type of property is this?
Warehouse - Two fenced warehouses totaling four overhead cranes, originally built as a trolley repair station and now used for equipment sales.
Where is this warehouse located?
The property is located at 1836 Church Street Norfolk, VA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Historic 1886 trolley repair station building with original arched windows and beams; Two fenced warehouses on a 1.22+ acre property package with four 2‑ton overhead cranes (2 per warehouse); Two access points; fronts Church St, backs to O'Keefe St, with Chase St bisecting the south side for a low‑traffic back entrance
