Retail Suite with
New
For Sale
Contact for pricing
1507 Halstead Ave #A, Norfolk, VA 23502
A compact commercial space includes dedicated signage, a private restroom, and electrical and plumbing service.
Property Size500 SF
Price / SF$1.40
Days on Market4
Property Features for 1507 Halstead Ave #A
General Information
Standard status
Active
Size
500 SF
Property subtype
Commercial/Industrial
Site & Location
Neighborhood
Crown Point
Additional Details
Condition
Move-in Ready
Property Use
Office
Amenities
private bathroom
Building Details
Building Size
500 SF
Year Built
1930
Listing Agency:
Hogge Real Estate Inc
Listed By:
Wendy Hogge · License #0225104842
(804) 815-2355
Source:
Hoggerealestate
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 26 at 4:02AM
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 Hogge Real Estate Inc
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 500-square-foot retail space has a private restroom, electrical service, plumbing, and individual signage. The space was most recently used as a hair salon and is in a building constructed in 1930.
Located just off Princess Anne Road, the suite is available for sale.
Located just off Princess Anne Road, the suite is available for sale.
Key Highlights
- 500 square feet of retail space
- Individual signage for the suite
- Private bathroom, electrical service, and plumbing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,678
Suggested Prices Based on Cap Rates
Cap Rate 5%
$113,560
$113.6K
Cap Rate 7%
$81,114
$81.1K
Cap Rate 9%
$63,089
$63.1K
Market Conditions
NOI Build-Up for 500 SF
Gross rent
$8.5K $17.04/SF
− Vacancy
−$409 −$0.82/SF
EGI
$8.1K $16.22/SF
− OpEx
−$2.4K −$4.87/SF
NOI
$5.7K $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%
$113,560
Cap Rate 7%
$81,114
Cap Rate 9%
$63,089
Alternative Uses
Best Use
Retail
$81.1K
$71.0K – $94.6K
NOI $5,678 @ 7.0% cap · market cap 811.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$106.1K
$92.8K – $123.8K
NOI $7,425 @ 7.0% cap · market cap 1,060.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
535
Businesses Nearby
49k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Groceries 25%
Dining 16%
Home Improvements & Furnishings 4%
Piggly Wiggly
Groceries
12,095 visits/mo
0.4 miles
Dollar Tree
Shops & Services
11,028 visits/mo
0.3 miles
Family Dollar
Shops & Services
7,110 visits/mo
0.5 miles
Rally's
Dining
5,522 visits/mo
0.4 miles
Marathon
Shops & Services
3,909 visits/mo
0.5 miles
Demographics for 23502, VA
20,547
Population
8,839
Households
2.3
Avg Household Size
39
Median Age
24%
College-Educated
89%
High-School Grad
9.9 sq mi
ZIP Area
2,075
Density / Sq Mi
$66,467
Median Household Income
$37,213
Median Earnings
$1,335
Median Rent
$244,800
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
Frequently Asked Questions
What type of property is this?
Retail space - A compact commercial space includes dedicated signage, a private restroom, and electrical and plumbing service.
Where is this retail space located?
The property is located at 1507 Halstead Ave #A Norfolk, VA.
What are key features of this property?
This property features: 500 square feet of retail space; Individual signage for the suite; Private bathroom, electrical service, and plumbing
