Mixed-Use Property with Cooler
601 E Brambleton Avenue, Norfolk, VA 23510
For Sale
Contact for pricing
Two buildings combine commercial and light-industrial functions with existing walk-in cooler space.
Property Size39,888 SF
Lot Size1.74 Acres
Price / SF$144.15
Days on Market43
Property Features for 601 E Brambleton Avenue
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Site & Location
Neighborhood
Mixed-Use Components
Additional Details
Cold Storage
Property Use
Amenities
walk-in cooler space
Building Details
Buildings
Listing Agency:
S. L. Nusbaum Realty Co.
Listed By:
Christopher Zarpas · License #VA 0225100368
(757) 237-7500
Source:
Crexi
Added: Sep 28
Changed: Nov 8
Last Checked: Nov 8 at 3:19PM
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 S. L. Nusbaum Realty Co.
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Investment Insights
Based on property information with market context.
This mixed-use property comprises two buildings with a combined area of ±39,888 SF on ±1.74 acres. The improvements support commercial and light-industrial functions, and existing walk-in cooler space is part of the offering.
The property is located near Downtown Norfolk at 601 E. Brambleton Avenue and 603 Lincoln Street. On-site parking totals 62 spaces.
The property is located near Downtown Norfolk at 601 E. Brambleton Avenue and 603 Lincoln Street. On-site parking totals 62 spaces.
Key Highlights
- Two buildings totaling ±39,888 SF
- Property occupies ±1.74 acres
- Existing walk‑in cooler space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$421,816
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,436,320
$8.4M
Cap Rate 7%
$6,025,943
$6.0M
Cap Rate 9%
$4,686,844
$4.7M
Market Conditions
NOI Build-Up for 39,888 SF
Gross rent
$718.0K $18.00/SF
− Vacancy
−$43.1K −$1.08/SF
EGI
$674.9K $16.92/SF
− OpEx
−$253.1K −$6.34/SF
NOI
$421.8K $10.58/SF
Area
Norfolk, VA
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,436,320
Cap Rate 7%
$6,025,943
Cap Rate 9%
$4,686,844
Alternative Uses
Best Use
Mixed Use
$6.03M
$5.27M – $7.03M
NOI $421,816 @ 7.0% cap · market cap 7.34%
Second Best
Warehouse
$4.53M
$3.97M – $5.29M
NOI $317,361 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$8.46M
$7.40M – $9.87M
NOI $592,316 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,859
Businesses Nearby
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Business Placement
Demographics for 23510, VA
8,778
Population
4,948
Households
1.8
Avg Household Size
33
Median Age
52%
College-Educated
92%
High-School Grad
1.1 sq mi
ZIP Area
7,980
Density / Sq Mi
$75,621
Median Household Income
$53,132
Median Earnings
$1,574
Median Rent
$349,700
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two buildings combine commercial and light-industrial functions with existing walk-in cooler space.
Where is this mixed-use property located?
The property is located at 601 E Brambleton Avenue Norfolk, VA.
What is the asking price?
The asking price for this property is $5,750,000.
What are key features of this property?
This property features: Two buildings totaling ±39,888 SF; Property occupies ±1.74 acres; Existing walk‑in cooler space
