Ghent Shopping Center
For Sale
Contact for pricing
301 W 21st St, Norfolk, VA 23517
Three connected retail properties offer a diversified tenant base, urban walkability, and substantial leased occupancy.
Property Size131,074 SF
Days on Market40
Property Features for 301 W 21st St
General Information
Standard status
Active
Size
131,074 SF
Property subtype
Retail
Occupancy
94%
Building Details
Building Size
131,074 SF
Year Built
1952
Tenancy
Multi
Listing Agency:
Divaris Real Estate - Hampton Roads
(757) 333-4383
Listed By:
Jason Oliver, CCIM
Source:
Divaris
Added: Jul 22
Changed: Aug 30
Last Checked: Aug 30 at 3:30AM
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 Divaris Real Estate - Hampton Roads
Investment Insights
Based on property information with market context.
This three-property shopping center portfolio spans 131,074 square feet across Palace Shops North, Palace Shops South, and Palace Station. The assets contain a broad mix of restaurants, boutiques, fitness studios, wellness providers, home furnishings, professional services, and neighborhood-oriented businesses. Current occupancy is 94%, and numerous tenants have operated at the property for more than a decade.
The portfolio occupies three city blocks at 301 W 21st St in Norfolk’s Ghent area, within an established urban corridor surrounded by residential, dining, shopping, entertainment, and cultural uses. The property includes the approximately 20,900-square-foot Decorum building, which offers repositioning options through a single-user format or smaller suites. Approximately 0.65 acres of surplus land is located adjacent to Palace Station, with potential uses identified as retail, medical, mixed-use, or multifamily development. The property was built in 1952.
The portfolio occupies three city blocks at 301 W 21st St in Norfolk’s Ghent area, within an established urban corridor surrounded by residential, dining, shopping, entertainment, and cultural uses. The property includes the approximately 20,900-square-foot Decorum building, which offers repositioning options through a single-user format or smaller suites. Approximately 0.65 acres of surplus land is located adjacent to Palace Station, with potential uses identified as retail, medical, mixed-use, or multifamily development. The property was built in 1952.
Key Highlights
- 131,074 square feet across Palace Shops North, Palace Shops South, and Palace Station
- 94% leased across a diversified mix of retail, dining, fitness, wellness, and professional‑service tenants
- Approximately 20,900‑square‑foot Decorum building with re‑leasing or subdivision potential
Property Analytics
Property Profile
Current Use
Lease Details
94%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,700
Businesses Nearby
326k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Groceries 24%
Shops & Services 17%
Electronics 1%
Chick-fil-A
Dining
43,656 visits/mo
0.3 miles
Harris Teeter
Groceries
38,729 visits/mo
0.4 miles
Aldi
Groceries
24,449 visits/mo
0.4 miles
Cook Out
Dining
20,035 visits/mo
0.3 miles
Dollar Tree
Shops & Services
17,446 visits/mo
0.2 miles
Demographics for 23517, VA
5,237
Population
2,901
Households
1.8
Avg Household Size
33
Median Age
55%
College-Educated
97%
High-School Grad
0.8 sq mi
ZIP Area
6,546
Density / Sq Mi
$63,556
Median Household Income
$46,689
Median Earnings
$1,397
Median Rent
$355,800
Median Home Value
Market
Vacancy Rate% for Retail in Norfolk, VA
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Frequently Asked Questions
What type of property is this?
Shopping center - Three connected retail properties offer a diversified tenant base, urban walkability, and substantial leased occupancy.
Where is this shopping center located?
The property is located at 301 W 21st St Norfolk, VA.
What are key features of this property?
This property features: 131,074 square feet across Palace Shops North, Palace Shops South, and Palace Station; 94% leased across a diversified mix of retail, dining, fitness, wellness, and professional‑service tenants; Approximately 20,900‑square‑foot Decorum building with re‑leasing or subdivision potential
