Office-Retail Building with
211 West Freemason Street Norfolk, VA 23510
For Sale
Contact for pricing
Downtown mixed-use property with office/retail space and a 2-bedroom, 2-bath apartment plus rooftop access.
Property Size4,925 SF
Price / SF$228.43
Days on Market42
Property Features for 211 West Freemason Street
General Information
- Standard status
- Active
- Size
- 4,925 SF
- Property subtype
- Retail, Office, Mixed Use
Building Details
- Year Built
- 1955
Listing Agency:
Creed Realty, LLC
(757) 502-4070
Listed By:
Robert Waring · License #0225057267
Source:
Crexi
Added: Jun 12
Changed: Jul 23
Last Checked: Jul 23 at 8:50AM
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, LLC
Investment Insights
Based on property information with market context.
This unique mixed-use building offers a sizable office/retail space on the lower level with a reception area, large flex space, two private offices, a kitchenette, two restrooms, and a server/storage room. A mezzanine features a glassed-in executive office, an additional open work area, and a large conference facility. Office furnishings are included with the purchase.
The second level is a separate-entry, 2-bedroom, 2-bath apartment with an 18 x 45 great room, polished concrete floors, and a custom kitchen with Wolf and Electrolux appliances. Carrera Marble countertops and Zebrawood cabinets are included, with a staircase leading to a rooftop room and access to a rooftop deck with city views.
Located at 211 West Freemason Street in downtown Norfolk, approximately one block off Granby Street and adjacent to Freemason Abbey, the building supports on-street parking with apartment eligibility for two permits. Spaces may also be leased in the large adjacent lot from the law firm across the street, noted in the remarks as $85 per month. The prior tenant was paying $25/SF NNN and splitting utilities 65/35 with the upstairs apartment.
The second level is a separate-entry, 2-bedroom, 2-bath apartment with an 18 x 45 great room, polished concrete floors, and a custom kitchen with Wolf and Electrolux appliances. Carrera Marble countertops and Zebrawood cabinets are included, with a staircase leading to a rooftop room and access to a rooftop deck with city views.
Located at 211 West Freemason Street in downtown Norfolk, approximately one block off Granby Street and adjacent to Freemason Abbey, the building supports on-street parking with apartment eligibility for two permits. Spaces may also be leased in the large adjacent lot from the law firm across the street, noted in the remarks as $85 per month. The prior tenant was paying $25/SF NNN and splitting utilities 65/35 with the upstairs apartment.
Key Highlights
- 1955‑built downtown Norfolk mixed‑use building with office/retail space below a 2BR/2BA apartment and rooftop access.
- Office/retail level includes reception, large flex space, 2 private offices, kitchenette, 2 restrooms, and server/storage room.
- Mezzanine features a glassed‑in executive office, open work area, and a large conference facility; office furnishings included.
Financial Insights For Office B
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 | $98.7k | $20.04 |
| − Vacancy | −$7.9k | −$1.60 |
| EGI | $90.8k | $18.44 |
| − OpEx | −$22.7k | −$4.61 |
| NOI | $68.1k | $13.83 |
4,925 SF · lease $20.04/SF/yr · vacancy 8.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$972.9K
$851.3K – $1.14M
NOI $68,101 @ 7.0% cap · market cap 6.05%
Second Best
Retail
$798.9K
$699.1K – $932.1K
NOI $55,926 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$1.04M
$914.2K – $1.22M
NOI $73,134 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Sway Creative Labs
Marketing & Advertising
FAQs
What type of property is this?
Mixed-use property - Downtown mixed-use property with office/retail space and a 2-bedroom, 2-bath apartment plus rooftop access.
Where is this mixed-use property located?
The property is located at 211 West Freemason Street Norfolk, VA.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: 1955‑built downtown Norfolk mixed‑use building with office/retail space below a 2BR/2BA apartment and rooftop access.; Office/retail level includes reception, large flex space, 2 private offices, kitchenette, 2 restrooms, and server/storage room.; Mezzanine features a glassed‑in executive office, open work area, and a large conference facility; office furnishings included.
