Separately Metered
New
For Sale
$260,000
809 Whitehead Avenue, Norfolk, VA 23523
Multi Family Residential, Over/Under, Norfolk, VA
Property Size1,412 SF
Price / SF$184.14
Days on Market5
Property Features for 809 Whitehead Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-8
Subdivision
BERKLEY
Elementary school
St. Helena Elementary
Middle school
Lake Taylor School
Standard status
Active
Size
1,412 SF
Additional Details
Tenant in Place
Yes
Individually Metered Utilities
unspecified utilities
Taxes and HOA fees
Tax Annual Amount
2766
Building Details
Year built
1920
Roof type
Shingle
Architectural style
Other
Listing Agency:
Long & Foster Real Estate Inc.
(804) 639-4663
Listed By:
Autumn Love
Added: Oct 22
Changed: Oct 25
Last Checked: Oct 26 at 12:06PM
MLS# 10658919
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.
Located at 809 Whitehead Avenue in Norfolk, this 1,412-square-foot duplex was built in 1920 and remodeled in 2023. The property contains two units, each with two bedrooms and one full bathroom, and each is separately metered. The upper unit is rented. The property is zoned R-8 and has a shingle roof.
Key Highlights
- Two units, each with 2 bedrooms and 1 full bathroom
- 1,412 square feet; built in 1920
- Remodeled in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,494
Cap Rate
7.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,880
$369.9K
Cap Rate 7%
$264,200
$264.2K
Cap Rate 9%
$205,489
$205.5K
Market Conditions
NOI Build-Up for 1,412 SF
Gross rent
$28.0K $19.80/SF
− Vacancy
−$1.5K −$1.09/SF
EGI
$26.4K $18.71/SF
− OpEx
−$7.9K −$5.61/SF
NOI
$18.5K $13.10/SF
Area
Norfolk, VA
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,880
Cap Rate 7%
$264,200
Cap Rate 9%
$205,489
Alternative Uses
Best Use
Multifamily LT 5
$264.2K
$231.2K – $308.2K
NOI $18,494 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$237.3K
$207.6K – $276.8K
NOI $16,609 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$299.5K
$262.1K – $349.5K
NOI $20,967 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
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Business Placement
Demographics for 23523, VA
7,061
Population
3,472
Households
2
Avg Household Size
33
Median Age
13%
College-Educated
82%
High-School Grad
2.1 sq mi
ZIP Area
3,362
Density / Sq Mi
$37,189
Median Household Income
$35,456
Median Earnings
$986
Median Rent
$222,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The upper residence is rented, and each of the two units has a separate meter.
Where is this duplex located?
The property is located at 809 Whitehead Avenue Norfolk, VA.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 full bathroom; 1,412 square feet; built in 1920; Remodeled in 2023
