Office Unit in Multi-Tenant
1761 Church St #111, Norfolk, VA 23504
For Sale
New
Contact for pricing
The unit is part of a multi-occupant office property with transportation, medical, behavioral health, and government contractor businesses.
Property Size150 SF
Price / SF$0.32
Days on Market5
Property Features for 1761 Church St #111
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Building Details
Building Size
Year Built
Stories
Units
Tenancy
Listing Agency:
EXIT Realty Central
(757) 466-1009
Listed By:
Timothy Churchwell
(757) 371-9145
Source:
Hoggerealestate
Added: Nov 10
Last Checked: Nov 13 at 11:41AM
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 EXIT Realty Central
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Investment Insights
Based on property information with market context.
This office unit is situated within a multi-tenant building completed in 2006. Current occupants include businesses in transportation, medical and behavioral health, along with government contractors.
The property is in a HUBZone and carries CSECPD zoning. It is located at 1761 Church St #111 in Norfolk, Virginia.
The property is in a HUBZone and carries CSECPD zoning. It is located at 1761 Church St #111 in Norfolk, Virginia.
Key Highlights
- Office property built in 2006
- Located in a HUBZone
- CSECPD zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$2,074
Suggested Prices Based on Cap Rates
Cap Rate 5%
$41,480
$41.5K
Cap Rate 7%
$29,629
$29.6K
Cap Rate 9%
$23,044
$23.0K
Market Conditions
NOI Build-Up for 150 SF
Gross rent
$3.0K $20.04/SF
− Vacancy
−$240 −$1.60/SF
EGI
$2.8K $18.44/SF
− OpEx
−$691 −$4.61/SF
NOI
$2.1K $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%
$41,480
Cap Rate 7%
$29,629
Cap Rate 9%
$23,044
Alternative Uses
Best Use
Office B
$29.6K
$25.9K – $34.6K
NOI $2,074 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$31.8K
$27.8K – $37.1K
NOI $2,227 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,270
Businesses Nearby
Explore this area
Business Placement
Demographics for 23504, VA
22,465
Population
9,462
Households
2.4
Avg Household Size
30
Median Age
24%
College-Educated
83%
High-School Grad
4.1 sq mi
ZIP Area
5,479
Density / Sq Mi
$43,156
Median Household Income
$26,707
Median Earnings
$872
Median Rent
$259,500
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 - The unit is part of a multi-occupant office property with transportation, medical, behavioral health, and government contractor businesses.
Where is this office unit located?
The property is located at 1761 Church St #111 Norfolk, VA.
What are key features of this property?
This property features: Office property built in 2006; Located in a HUBZone; CSECPD zoning
