Renovated Bar & Pub
For Sale
$1,375,000
731 Granby St, Norfolk, VA 23510
Renovated commercial space includes a bar, kitchen, mezzanine, upgraded systems, and existing tenants.
Property Size4,132 SF
Price / SF$332.77
Days on Market66
Property Features for 731 Granby St
General Information
Standard status
Active
Size
4,132 SF
Building Details
Year Built
1916
Listing Agency:
BHHS RW Towne Realty
Listed By:
Allen Bynum
(757) 436-3636
Source:
Honorableservicerealty
Added: Aug 10
Changed: Oct 9
Last Checked: Oct 7 at 2:27PM
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 BHHS RW Towne Realty
Investment Insights
Based on property information with market context.
Built in 1916, this 4,132-square-foot bar and pub property combines historic building character with a comprehensive 2017 renovation. Improvements included a new bar, mezzanine, kitchen, bathrooms, lighting, flooring, electrical, plumbing, HVAC, and roof, along with tables, chairs, and bar stools. Existing tenants are in occupancy.
The property is located at 731 Granby St in Norfolk, Virginia. A Greyhound bus station redevelopment is planned to add over 200 units nearby, providing additional surrounding residential context. The building’s configuration and installed improvements support continued bar and pub operations without relying on an unrenovated shell.
The property is located at 731 Granby St in Norfolk, Virginia. A Greyhound bus station redevelopment is planned to add over 200 units nearby, providing additional surrounding residential context. The building’s configuration and installed improvements support continued bar and pub operations without relying on an unrenovated shell.
Key Highlights
- 4,132 SF bar and pub property at 731 Granby St, Norfolk, VA 23510
- Comprehensive renovation completed in 2017
- Existing tenants currently in occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,496
Cap Rate
3.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,029,920
$1.0M
Cap Rate 7%
$735,657
$735.7K
Cap Rate 9%
$572,178
$572.2K
Market Conditions
NOI Build-Up for 4,132 SF
Gross rent
$71.9K $17.40/SF
− Vacancy
−$3.2K −$0.78/SF
EGI
$68.7K $16.62/SF
− OpEx
−$17.2K −$4.15/SF
NOI
$51.5K $12.46/SF
Area
Norfolk, VA
Vacancy
4.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,029,920
Cap Rate 7%
$735,657
Cap Rate 9%
$572,178
Alternative Uses
Best Use
Specialty Retail
$735.7K
$643.7K – $858.3K
NOI $51,496 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$876.5K
$767.0K – $1.02M
NOI $61,358 @ 7.0% cap · market cap 4.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,419
Businesses Nearby
73k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Dining 31%
Groceries 11%
Hotels & Casinos 4%
Exxon
Shops & Services
19,763 visits/mo
0.2 miles
Rally's
Dining
13,010 visits/mo
0.4 miles
Virginia ABC
Groceries
7,861 visits/mo
0.2 miles
BonChon Chicken
Dining
7,492 visits/mo
0.5 miles
BP
Shops & Services
7,022 visits/mo
0.5 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Norfolk, VA
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- bar — 131 Granby St, Norfolk, VA 23510
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Renovated commercial space includes a bar, kitchen, mezzanine, upgraded systems, and existing tenants.
Where is this bar & pub located?
The property is located at 731 Granby St Norfolk, VA.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: 4,132 SF bar and pub property at 731 Granby St, Norfolk, VA 23510; Comprehensive renovation completed in 2017; Existing tenants currently in occupancy
