2-Unit Residential
New
For Sale
$272,000
3102 Vimy Ridge Avenue, Norfolk, VA 23509
Multi Family Residential, Over/Under, Norfolk, VA
Property Size1,300 SF
Price / SF$209.23
Days on Market4
Property Features for 3102 Vimy Ridge Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-8
Subdivision
LAFAYETTE ANNEX
Elementary school
Lindenwood Elementary
Middle school
Azalea Gardens Middle
Standard status
Active
Size
1,300 SF
Taxes and HOA fees
Tax Annual Amount
2371
Building Details
Year built
1922
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Coastal Virginia Chesapeake · Keller Williams Realty
Listed By:
Jamese Harte
(757) 361-0106
Added: Oct 14
Changed: Oct 17
Last Checked: Oct 17 at 1:06PM
MLS# 10657796
Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,300-square-foot duplex has an over-under configuration, with residences arranged on separate levels. The building dates to 1922 and has a shingle roof. The property is zoned R-8.
Key Highlights
- Over‑under duplex configuration
- 1,300 square feet
- Built in 1922
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,027
Cap Rate
6.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$340,540
$340.5K
Cap Rate 7%
$243,243
$243.2K
Cap Rate 9%
$189,189
$189.2K
Market Conditions
NOI Build-Up for 1,300 SF
Gross rent
$25.7K $19.80/SF
− Vacancy
−$1.4K −$1.09/SF
EGI
$24.3K $18.71/SF
− OpEx
−$7.3K −$5.61/SF
NOI
$17.0K $13.10/SF
Area
Norfolk, VA
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$340,540
Cap Rate 7%
$243,243
Cap Rate 9%
$189,189
Alternative Uses
Best Use
Multifamily LT 5
$243.2K
$212.8K – $283.8K
NOI $17,027 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$218.5K
$191.2K – $254.9K
NOI $15,292 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$275.8K
$241.3K – $321.7K
NOI $19,304 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
358
Businesses Nearby
Explore this area
Business Placement
Demographics for 23509, VA
12,963
Population
5,920
Households
2.2
Avg Household Size
38
Median Age
29%
College-Educated
86%
High-School Grad
2.5 sq mi
ZIP Area
5,185
Density / Sq Mi
$70,715
Median Household Income
$38,850
Median Earnings
$1,259
Median Rent
$238,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - An over-under layout places the two residences within one building.
Where is this duplex located?
The property is located at 3102 Vimy Ridge Avenue Norfolk, VA.
What is the asking price?
The asking price for this property is $272,000.
What are key features of this property?
This property features: Over‑under duplex configuration; 1,300 square feet; Built in 1922
