Furnished Dry Cleaning
337-331 E Bayview Blvd, Norfolk, VA 23503
For Sale
Contact for pricing
Leasable, fully equipped dry cleaning storefront with no CAM charges and tenant-paid utilities.
Property Size2,118 SF
Price / SF$0.94
Days on Market185
Property Features for 337-331 E Bayview Blvd
General Information
Standard status
Size
Site & Location
Neighborhood
Additional Details
Business Included
Listing Agency:
Abrams Realty
(757) 644-3800
Listed By:
Teresa Hagerman · License VA #22638
(757) 642-0118
Source:
Exprealty
Added: May 14
Changed: Nov 13
Last Checked: Nov 12 at 1:44PM
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 Abrams Realty
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Investment Insights
Based on property information with market context.
This is a fully furnished dry cleaning storefront available for lease, including the equipment needed to operate. The space is designed for dry cleaning services and can support additional offerings listed by the operator, such as wash & fold, alterations, next-day service, and pickup and delivery. The premises are being offered as a turnkey setup, with the unit leased along with its included equipment. Tenant responsibilities include utilities, with gas, electric, and water paid by the tenant. The listing also notes no CAM charges.
The property is located off Tidewater Drive in Norfolk, VA. It is described as being minutes from Little Creek and the Norfolk Naval station, which may be relevant for service-oriented businesses that benefit from nearby residential and employment demand.
For an owner-operator or a small business team looking to start or expand a cleaning and garment-care operation, the turnkey equipment package can reduce setup time. The lease is described with a 3-year minimum term, and the space is positioned for dry cleaning and related programs such as monthly wash & fold memberships and commercial linen service. Pickup and delivery routes are also mentioned as a service approach.
The property is located off Tidewater Drive in Norfolk, VA. It is described as being minutes from Little Creek and the Norfolk Naval station, which may be relevant for service-oriented businesses that benefit from nearby residential and employment demand.
For an owner-operator or a small business team looking to start or expand a cleaning and garment-care operation, the turnkey equipment package can reduce setup time. The lease is described with a 3-year minimum term, and the space is positioned for dry cleaning and related programs such as monthly wash & fold memberships and commercial linen service. Pickup and delivery routes are also mentioned as a service approach.
Key Highlights
- Fully furnished dry cleaning storefront for lease with equipment already in place
- 2118 sq ft (not measured) retail/production space available for lease
- No CAM charges; tenant responsible for utilities (gas, electric, and water)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,051
Suggested Prices Based on Cap Rates
Cap Rate 5%
$481,020
$481.0K
Cap Rate 7%
$343,586
$343.6K
Cap Rate 9%
$267,233
$267.2K
Market Conditions
NOI Build-Up for 2,118 SF
Gross rent
$36.1K $17.04/SF
− Vacancy
−$1.7K −$0.82/SF
EGI
$34.4K $16.22/SF
− OpEx
−$10.3K −$4.87/SF
NOI
$24.1K $11.36/SF
Area
Norfolk, VA
Vacancy
4.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$481,020
Cap Rate 7%
$343,586
Cap Rate 9%
$267,233
Alternative Uses
Best Use
Retail
$343.6K
$300.6K – $400.9K
NOI $24,051 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$449.3K
$393.1K – $524.2K
NOI $31,451 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
21k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
7-Eleven
Shops & Services
13,656 visits/mo
0.1 miles
7-Eleven
Shops & Services
7,817 visits/mo
0.1 miles
Demographics for 23503, VA
31,932
Population
15,350
Households
2.1
Avg Household Size
35
Median Age
31%
College-Educated
91%
High-School Grad
5.0 sq mi
ZIP Area
6,386
Density / Sq Mi
$62,428
Median Household Income
$42,850
Median Earnings
$1,195
Median Rent
$273,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Norfolk, VA
Frequently Asked Questions
What type of property is this?
Storefront property - Leasable, fully equipped dry cleaning storefront with no CAM charges and tenant-paid utilities.
Where is this storefront property located?
The property is located at 337-331 E Bayview Blvd Norfolk, VA.
What are key features of this property?
This property features: Fully furnished dry cleaning storefront for lease with equipment already in place; 2118 sq ft (not measured) retail/production space available for lease; No CAM charges; tenant responsible for utilities (gas, electric, and water)
