Private Office with Shared
4013 Colley Ave, Norfolk, VA 23508
For Sale
New
Contact for pricing
An 85-square-foot workspace includes access to shared areas for meetings, creative work, and breaks.
Property Size9,259 SF
Price / SF$0.00
Days on Market2
Property Features for 4013 Colley Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Property Use
Amenities
Portrait Design Area
Conference Room
Kitchen
Additional Office/Workspace
Building Details
Year Built
Tenancy
Listing Agency:
Waterway Realty
Listed By:
Patriot Property Management
(757) 478-4881
Source:
757patriotproperty
Added: Nov 12
Last Checked: Nov 12 at 2:48PM
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 Waterway Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This coworking property includes an 85 SF private office within a larger workspace. Shared facilities provide room for creative projects, meetings, additional work, and kitchen use. The building was constructed in 2019.
The property is located along Colley Avenue in Norfolk at 4013 Colley Ave.
The property is located along Colley Avenue in Norfolk at 4013 Colley Ave.
Key Highlights
- 85 SF private office
- Shared design area of approximately 400 SF (20' A- 20')
- Conference room of approximately 240 SF (12' A- 20')
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$128,030
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,560,600
$2.6M
Cap Rate 7%
$1,829,000
$1.8M
Cap Rate 9%
$1,422,556
$1.4M
Market Conditions
NOI Build-Up for 9,259 SF
Gross rent
$185.6K $20.04/SF
− Vacancy
−$14.8K −$1.60/SF
EGI
$170.7K $18.44/SF
− OpEx
−$42.7K −$4.61/SF
NOI
$128.0K $13.83/SF
Area
Norfolk, VA
Vacancy
8.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,560,600
Cap Rate 7%
$1,829,000
Cap Rate 9%
$1,422,556
Alternative Uses
Best Use
Office B
$1.83M
$1.60M – $2.13M
NOI $128,030 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.96M
$1.72M – $2.29M
NOI $137,491 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
949
Businesses Nearby
Explore this area
Business Placement
Demographics for 23508, VA
20,485
Population
7,112
Households
2.9
Avg Household Size
27
Median Age
56%
College-Educated
93%
High-School Grad
3.3 sq mi
ZIP Area
6,208
Density / Sq Mi
$74,524
Median Household Income
$24,975
Median Earnings
$1,381
Median Rent
$384,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Coworking space - An 85-square-foot workspace includes access to shared areas for meetings, creative work, and breaks.
Where is this coworking space located?
The property is located at 4013 Colley Ave Norfolk, VA.
What are key features of this property?
This property features: 85 SF private office; Shared design area of approximately 400 SF (20' A- 20'); Conference room of approximately 240 SF (12' A- 20')
