Listing Agency: Riddle Associates, Inc. Show Phone

Listed By: Larry Rumsey · License #VA

Source: Crexi

Added: Apr 12 Changed: Aug 31 Last Checked: Aug 30 at 7:11PM

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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 Riddle Associates, Inc.

Investment Insights

Based on property information with market context.

This retail property contains 4,566 square feet of commercial space at 5585 E. Virginia Beach Boulevard. The Norfolk address places the property along an established boulevard corridor within the 23502 ZIP code.

Key Highlights

• 4,566 square feet of retail space
• Located at 5585 E. Virginia Beach Boulevard, Norfolk, VA 23502

Property Analytics

Property Profile

Current Use

Sullivan Auto Trading ... Car Dealership

Suggested Use

Top Pick Electrical Service (Bike/Boat/Book/etc) Store Grocery & Convenience Store Parking Lot & Garage Pet Grooming Service Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,102

Businesses Nearby

231k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 47% Home Improvements & Furnishings 20% Shops & Services 12% Electronics 9%

Lowe's Home Improvements & Furnishings

41,289 visits/mo 0.2 miles

Cook Out Dining

24,045 visits/mo 0.4 miles

Aldi Groceries

18,859 visits/mo 0.4 miles

Royal Farms Shops & Services

17,134 visits/mo 0.2 miles

Taco Bell Dining

14,200 visits/mo 0.4 miles

Demographics for 23502, VA

20,547

Population

8,839

Households

2.3

Avg Household Size

39

Median Age

24%

College-Educated

89%

High-School Grad

9.9 sq mi

ZIP Area

2,075

Density / Sq Mi

$66,467

Median Household Income

$37,213

Median Earnings

$1,335

Median Rent

$244,800

Median Home Value

Market

Vacancy Rate% for Retail in Norfolk, VA

7.9% 2019

9.3% 2020

8.7% 2021

7.9% 2022

6.9% 2023

6.6% 2024

6.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Retail space - Commercial premises along E. Virginia Beach Boulevard in Norfolk, Virginia.

Where is this retail space located?

The property is located at 5585 E Virginia Beach Boulevard Norfolk, VA.

What are key features of this property?

This property features: 4,566 square feet of retail space; Located at 5585 E. Virginia Beach Boulevard, Norfolk, VA 23502