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    Retail Property with Drive Thru Title is generated by Realmo AI

    5357 E Princess Anne Rd, Norfolk, VA

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    Retail property with drive-thru, value-add opportunity, high traffic location.

    Type:RETAIL
    Property size:
    4,197 SF
    Lot size:
    0.51 Acres
    Price / SF:
    $189/SF
    Added:
    Jun 5, 2025
    Days on Market:
    373
    Last Refresh:
    May 20 at 8:50 pm

    Property Features for 5357 E Princess Anne Rd

    General Information

    Standard status
    Active
    Size
    4,197 SF
    Lot size
    0.51 Acres
    Property subtype
    RETAIL

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    Listing Contact
    Tyler Kolligian
    Tyler Kolligian

    Listing agent Tyler Kolligian

    Listing office The Kase Group - Corporate

    Listing date Jun 5, 2025

    Source Moodyscre

    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 The Kase Group - Corporate

    HighLights

    • High traffic location: 20,000 cars per day and a population of over 105,000 within 3 miles.
    • Drive‑thru capability.
    • Value‑add repositioning or redevelopment opportunity.
    • Existing lease income: 7‑Eleven has 2.5 years remaining on the lease.
    • Month‑to‑month tenant (Kulture Kutz Barber Shop) interested in a long‑term lease extension.
    • Former 7‑Eleven reported $2.2M in sales in 2017.

    Overview

    This retail property presents a value-add opportunity for repositioning, redevelopment, or owner-user scenarios. The property benefits from drive-thru capability. A former 7-Eleven location has 2.5 years remaining on the lease. Kulture Kutz Barber Shop currently operates on a month-to-month basis, with interest in a long-term lease extension. The 7-Eleven reported $2.2 million in sales in 2017. The location benefits from high traffic volume, with 20,000 cars per day, and a population of over 105,000 within a 3-mile radius. The property has a size of 4,197 square feet and is located on E Princess Anne Rd, Norfolk, VA.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $73.0k $17.40
    − Vacancy −$3.3k −$0.78
    EGI $69.7k $16.62
    − OpEx −$17.4k −$4.15
    NOI $52.3k $12.46
    4,197 SF · lease $17.40/SF/yr · vacancy 4.50% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $747.2K
    $653.8K – $871.8K (±1% cap)
    NOI $52,306 @ 7.0% cap · market cap 6.58%
    Second Best
    Retail
    $680.8K
    $595.7K – $794.3K (±1% cap)
    NOI $47,659 @ 7.0% cap · market cap 5.99%
    Theoretical Best
    Office A
    $890.3K
    $779.0K – $1.04M (±1% cap)
    NOI $62,323 @ 7.0% cap · market cap 7.84%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Kulture Kutz Barber Shop

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Norfolk
    County
    Norfolk
    State
    Virginia
    Longitude
    -76.2184
    Latitude
    36.8734

    FAQs

    What type of property is this?
    Grocery and convenience store - Retail property with drive-thru, value-add opportunity, high traffic location.
    Where is this grocery and convenience store located?
    The property is located at 5357 E Princess Anne Rd Norfolk, VA.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: High traffic location: 20,000 cars per day and a population of over 105,000 within 3 miles.; Drive‑thru capability.; Value‑add repositioning or redevelopment opportunity.
    (925) 231-1770 Call to check price and availability
    More about this property
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