Office Suite With Four Private
New
For Sale
Contact for pricing
1547 E Little Creek Rd #A101, Norfolk, VA 23518
C-2-zoned workspace includes a reception area and shared conference amenities.
Property Size660 SF
Days on Market4
Property Features for 1547 E Little Creek Rd #A101
General Information
Standard status
Active
Size
660 SF
Property subtype
Commercial/Industrial
Zoning
C-2
Site & Location
Neighborhood
Bel-Aire
Highway Access
Yes
Additional Details
Condition
Turnkey
Property Use
Office
Amenities
conference room
kitchenette
public/private bathrooms
Building Details
Building Size
660 SF
Year Built
2006
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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Investment Insights
Based on property information with market context.
This 660-square-foot office suite at 1547 E Little Creek Rd #A101 in Norfolk has four private offices and a reception and waiting area. Building amenities shared with other occupants include a conference room, kitchenette, and public and private bathrooms. The building was constructed in 2006, and the owners will arrange fresh paint and replacement flooring before occupancy.
The suite includes one reserved parking space, along with access to shared on-site parking. Shore Drive, Granby Street, and I-64 provide nearby routes. Zoning is C-2. Utilities and CAMs are billed separately, and signage options are available.
The suite includes one reserved parking space, along with access to shared on-site parking. Shore Drive, Granby Street, and I-64 provide nearby routes. Zoning is C-2. Utilities and CAMs are billed separately, and signage options are available.
Key Highlights
- 660‑square‑foot office suite with four private offices
- Reception and waiting area with desk
- Shared conference room, kitchenette, and public and private bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,126
Suggested Prices Based on Cap Rates
Cap Rate 5%
$182,520
$182.5K
Cap Rate 7%
$130,371
$130.4K
Cap Rate 9%
$101,400
$101.4K
Market Conditions
NOI Build-Up for 660 SF
Gross rent
$13.2K $20.04/SF
− Vacancy
−$1.1K −$1.60/SF
EGI
$12.2K $18.44/SF
− OpEx
−$3.0K −$4.61/SF
NOI
$9.1K $13.83/SF
Area
Norfolk, VA
Vacancy
8.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$182,520
Cap Rate 7%
$130,371
Cap Rate 9%
$101,400
Alternative Uses
Best Use
Office B
$130.4K
$114.1K – $152.1K
NOI $9,126 @ 7.0% cap · market cap 304,200.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$140.0K
$122.5K – $163.4K
NOI $9,801 @ 7.0% cap · market cap 326,700.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
590
Businesses Nearby
Explore this area
Business Placement
Demographics for 23518, VA
30,278
Population
13,911
Households
2.2
Avg Household Size
37
Median Age
32%
College-Educated
91%
High-School Grad
6.1 sq mi
ZIP Area
4,964
Density / Sq Mi
$73,899
Median Household Income
$47,605
Median Earnings
$1,348
Median Rent
$280,200
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - C-2-zoned workspace includes a reception area and shared conference amenities.
Where is this office unit located?
The property is located at 1547 E Little Creek Rd #A101 Norfolk, VA.
What are key features of this property?
This property features: 660‑square‑foot office suite with four private offices; Reception and waiting area with desk; Shared conference room, kitchenette, and public and private bathrooms
