Renovated Bar and Pub
For Sale
$1,375,000
731 Granby Street, Norfolk, VA 23510
Commercial/Industrial, Norfolk, VA
Property Size4,132 SF
Lot Size0.07 Acres
Price / SF$332.77
Days on Market140
Property Features for 731 Granby Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
D-4
Subdivision
DOWNTOWN AREA
Standard status
Active
Size
4,132 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
3286
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Building Details
Year built
1916
Listing Agency:
BHHS RW Towne Realty · Berkshire Hathaway HomeServices
(757) 436-3636
Listed By:
Allen Bynum
(757) 690-0439
Added: Jun 4
Changed: Oct 1
Last Checked: Oct 21 at 10:06AM
MLS# 10638066
Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 4,132-square-foot bar and pub property occupies a 0.07-acre site and was renovated in 2017. Improvements include a new bar, mezzanine, kitchen, bathrooms, electrical and plumbing systems, HVAC, roof, lighting, flooring, tables, chairs, and bar stools. The building dates to 1916 and includes central air conditioning and heat pump heating.
Established tenants are already in occupancy. The property is located at 731 Granby Street in Norfolk, Virginia, with D-4 zoning. Its existing bar-oriented layout, kitchen, customer furnishings, and updated building systems provide a defined operating configuration for continued hospitality use.
Established tenants are already in occupancy. The property is located at 731 Granby Street in Norfolk, Virginia, with D-4 zoning. Its existing bar-oriented layout, kitchen, customer furnishings, and updated building systems provide a defined operating configuration for continued hospitality use.
Key Highlights
- 4,132 square feet on 0.07 acres
- Renovated in 2017 with updated bar, kitchen, bathrooms, HVAC, roof, electrical, and plumbing
- Established tenants already 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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Norfolk, VA
Similar Off Market Nearby
- Capo Capo — 235 E Main St, Norfolk, VA 23510
- Varia — 100 E Main St, Norfolk, VA 23510
- Grain — 100 E Main St, Norfolk, VA 23510
- bar — 131 Granby St, Norfolk, VA 23510
- Luce — 245 Granby St, Norfolk, VA 23510
Frequently Asked Questions
What type of property is this?
Bar & Pub - D-4-zoned property with a bar, kitchen, mezzanine, and established tenants in occupancy.
Where is this bar & pub located?
The property is located at 731 Granby Street 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 square feet on 0.07 acres; Renovated in 2017 with updated bar, kitchen, bathrooms, HVAC, roof, electrical, and plumbing; Established tenants already in occupancy
