Norfolk Industrial Building For
For Sale
Contact for pricing
2440 Alabama Ave, Norfolk, VA 23513
9,600 SqFt industrial building available for purchase.
Property Size9,600 SF
Price / SF$114.58
Days on Market224
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Property Features for 2440 Alabama Ave
General Information
Standard status
Active
Size
9,600 SF
Total Parking Spaces
10
Property subtype
Industrial
Listing Agency:
Riddle Associates, Inc.
Listed By:
Bill Brackman · License #VA 0225028911
(757) 377-0971
Source:
Crexi
Added: Mar 5
Changed: Oct 10
Last Checked: Oct 14 at 9:15PM
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 Riddle Associates, Inc.
Investment Insights
Based on property information with market context.
This industrial property, located in Norfolk, Virginia, offers 9,600 square feet of space. The property is available for sale.
Key Highlights
- Industrial Property
- 9,600 SqFt
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,902
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,258,040
$1.3M
Cap Rate 7%
$898,600
$898.6K
Cap Rate 9%
$698,911
$698.9K
Market Conditions
NOI Build-Up for 9,600 SF
Gross rent
$93.3K $9.72/SF
− Vacancy
−$3.5K −$0.36/SF
EGI
$89.9K $9.36/SF
− OpEx
−$27.0K −$2.81/SF
NOI
$62.9K $6.55/SF
Area
Norfolk, VA
Vacancy
3.70%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,258,040
Cap Rate 7%
$898,600
Cap Rate 9%
$698,911
Alternative Uses
Best Use
Industrial
$898.6K
$786.3K – $1.05M
NOI $62,902 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.04M
$1.78M – $2.38M
NOI $142,555 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
419
Businesses Nearby
Explore this area
Business Placement
Demographics for 23513, VA
29,105
Population
13,040
Households
2.2
Avg Household Size
35
Median Age
22%
College-Educated
87%
High-School Grad
5.1 sq mi
ZIP Area
5,707
Density / Sq Mi
$66,875
Median Household Income
$39,547
Median Earnings
$1,187
Median Rent
$226,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Industrial property - 9,600 SqFt industrial building available for purchase.
Where is this industrial property located?
The property is located at 2440 Alabama Ave Norfolk, VA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Industrial Property; 9,600 SqFt
