5357 E Princess Anne Rd, Norfolk, VA
Retail property with drive-thru, value-add opportunity, high traffic location.
- 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
Listing agent Tyler Kolligian
Listing office The Kase Group - Corporate (925) 231-1770
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
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 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Norfolk
- County
- Norfolk
- State
- Virginia
- Longitude
- -76.2184
- Latitude
- 36.8734