Coastal Retail Landmark
1901 East Ocean View Avenue Norfolk, VA 23503
For Sale
Contact for pricing
Retail storefront offered for sale along the Chesapeake Bay, steps from the beach in Norfolk’s Ocean View submarket.
Property Size7,020 SF
Price / SF$206.55
Days on Market65
Property Features for 1901 East Ocean View Avenue
General Information
Standard status
Active
Size
7,020 SF
Property subtype
Retail
Building Details
Year Built
2006
Listing Agency:
Cushman & Wakefield Thalhimer - Norfolk/Virginia Beach, Virginia
Listed By:
Josh Fulton · License #VA
Source:
Crexi
Added: May 26
Changed: Jul 23
Last Checked: Jul 28 at 4:01PM
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 Cushman & Wakefield Thalhimer - Norfolk/Virginia Beach, Virginia
Investment Insights
Based on property information with market context.
This for-sale retail opportunity is positioned as a coastal landmark along the Chesapeake Bay in Norfolk’s Ocean View submarket. The offering is located on East Ocean View Avenue at Cape View Avenue, with proximity described as just steps to the beach.
The Ocean View area is presented as an actively transforming submarket within the Hampton Roads MSA, supported by new residential development, infrastructure improvements, and demand for walkable, experience-driven retail. The remarks also note proximity to Naval Station Norfolk and ongoing redevelopment in the area.
The property is offered by Cushman & Wakefield | Thalhimer as the exclusive listing broker.
The Ocean View area is presented as an actively transforming submarket within the Hampton Roads MSA, supported by new residential development, infrastructure improvements, and demand for walkable, experience-driven retail. The remarks also note proximity to Naval Station Norfolk and ongoing redevelopment in the area.
The property is offered by Cushman & Wakefield | Thalhimer as the exclusive listing broker.
Key Highlights
- Retail storefront offered for sale along the Chesapeake Bay in Norfolk’s Ocean View submarket
- Located on East Ocean View Avenue at Cape View Avenue, just steps to the beach
- Year built: 2006
Financial Insights For Retail
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 | $119.6k | $17.04 |
| − Vacancy | −$5.7k | −$0.82 |
| EGI | $113.9k | $16.22 |
| − OpEx | −$34.2k | −$4.87 |
| NOI | $79.7k | $11.36 |
7,020 SF · lease $17.04/SF/yr · vacancy 4.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.14M
$996.4K – $1.33M
NOI $79,715 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,243 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Retail storefront offered for sale along the Chesapeake Bay, steps from the beach in Norfolk’s Ocean View submarket.
Where is this retail space located?
The property is located at 1901 East Ocean View Avenue Norfolk, VA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Retail storefront offered for sale along the Chesapeake Bay in Norfolk’s Ocean View submarket; Located on East Ocean View Avenue at Cape View Avenue, just steps to the beach; Year built: 2006
