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    253 Monticello Ave Unit 2ND Norfolk, VA 23510

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    For Lease
    Contact for pricing

    Workspaces, services and support to help you work better in VA, Norfolk - Monticello Ave

    Property size:
    10 SF - 1,292 SF
    Added:
    Feb 9, 2026
    Days on Market:
    51
    Last Refresh:
    Mar 16 at 9:06 am

    Property Features for 253 Monticello Ave Unit 2ND

    General Information

    Standard status
    Active
    Property type
    Office properties & Spaces, Coworking space, Flex space, Specialty properties
    Size
    10 SF - 1,292 SF
    Rate Type
    Monthly

    Amenities

    24 Hour Access
    Air Conditioning
    Breakroom
    Business Center
    Close to Public Transportation
    Conference Rooms
    Controlled Access
    Elevator
    Fiber Optic Internet
    Furnished Units Available
    Internet
    Lounge
    Meeting Event Space
    On-Site Security Staff
    Online Services
    Package Service
    Reception
    Recycling
    Storage Space
    Wheelchair Accessible
    Wi-Fi

    Spaces For Lease

    at 253 Monticello Ave Unit 2ND Contact us

    Office for 1 $246 /Mo

    Size
    86-538 SF
    Type
    Office
    Focus on driving your business forward with a professional office just for you and...
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    Contact us

    Office for 2 $493 /Mo

    Size
    108-538 SF
    Type
    Office
    Get started right away with a ready-to-use office space for two. HQ’ small offices...
    show more
    Contact us

    Office for 3 $739 /Mo

    Size
    162-646 SF
    Type
    Office
    Productive workspace for three that comes with everything taken care of. HQ’ medium...
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    Contact us

    Office for 4 $1,079 /Mo

    Size
    215-646 SF
    Type
    Office
    Book a fully serviced office for four, and HQ will make sure everything always works...
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    Contact us

    Office for 5 $1,548 /Mo

    Size
    323-807 SF
    Type
    Office
    Access a bright and inspiring office space designed to help teams of five to do their...
    show more
    Contact us

    Membership CW $129 /Mo

    Size
    54-108 SF
    Type
    Office
    Work wherever and however you need to with a HQ Coworking membership. Regus offers...
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    Contact us

    Membership office $235 /Mo

    Size
    86-108 SF
    Type
    Office
    Work wherever and however you need to with a HQ Office membership. HQ offers the...
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    Contact us

    Coworking $187 /Mo

    Size
    108-328 SF
    Type
    Office
    Get to work among a like-minded community in HQ’ shared office space. HQ’ coworking...
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    Contact us

    Office for +10 $2,627 /Mo

    Size
    484-1184 SF
    Type
    Office
    Find a flexible choice for business with an open-plan office space that supports...
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    Contact us

    Office for +15 $3,976 /Mo

    Size
    1076-1292 SF
    Type
    Office
    Open plan office space for 15 persons available on flexible terms, so you can add...
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    Contact us

    Virtual office $199 /Mo

    Size
    10-50 SF
    Type
    Office
    Build your business presence fast, with an instant professional company address and...
    show more
    Contact us
    Show more

    We can help!

    Listing Contact
    Regus USA
    Regus USA

    Listing agent Regus

    Listing office

    Listing date Feb 9, 2026

    Location Intelligence

    Current Use by Public Records

    Social Monarch Media Advertising Agency Growth Hormone LifeCore Physician Percentric Medical Group Go Local 757 Marketing & Advertising

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Hair Salon Dental Office Law Firm Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Print Fix — 500 E Main St, Norfolk, VA 23510
    • Encore — 777 Waterside Dr, Norfolk, VA 23510
    • Cell Fix (Near Pandora) — 300 Monticello Ave, Norfolk, VA 23510
    • Network Management, Inc. — 223 E City Hall Ave Suite 300, Norfolk, VA 23510
    • Net Arc — 999 Waterside Dr, Norfolk, VA 23510

    Location Insight

    • Map
    • Local Demand
    City
    Norfolk
    County
    Norfolk
    State
    Virginia
    Longitude
    -76.289984
    Latitude
    36.849458

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    FAQs

    What type of property is this?
    Office property - Workspaces, services and support to help you work better in VA, Norfolk - Monticello Ave
    Where is this office property located?
    The property is located at 253 Monticello Ave Unit 2ND Norfolk, VA.
    What are key features of this property?
    This property features: Be part of a vibrant coworking community with dedicated desk or hot desking options in thousands of idyllic locations across the globe; Grow in a modern workplace with the added advantage of a benefits program offering exclusive discounts and bespoke procurement support; Access HQ' network of workspaces and business lounges as often as you need and take advantage of their exclusive benefits
    (972) 764-8885
    We can help!
    Listing Contact
    Regus USA
    Regus USA
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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