Norfolk Office Building For
839 Poplar Hall Dr Norfolk, VA 23502
839 Poplar Hall Dr, Norfolk, VA, 23502
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For Sale
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8,620 SF office building on 1.87 acres in Norfolk.
Property Size8,620 SF
Lot Size1.87 Acres
Price / SF$226.22
Days on Market669
Property Features for 839 Poplar Hall Dr
General Information
- Standard status
- Active
- Size
- 8,620 SF
- Lot size
- 1.87 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1984
Listing Agency
NAI Dominion Hampton Roads
(757) 216-8438
Listed by
Matt Wilbricht · License #VA 0225075527
Source
Crexi
Added: Sep 18, 2024 Checked: Jul 17 at 12:12 pm
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 NAI Dominion Hampton Roads
Investment Insights
Based on property information with market context.
This single-story office building offers 8,620 square feet of versatile space on 1.87 acres. Zoned C2, the property is centrally located in Norfolk, providing access to major interstates and highways. It is situated less than 2 miles from Sentara Leigh and the Tide light rail. The property offers abundant parking and great visibility. This property presents a solid foundation for a range of office ventures with potential for growth and development.
Key Highlights
- 8,620 SF single story office building on 1.87 acres.
- Coveted C2 zoning allows for a range of office ventures.
- Abundant parking and great visibility.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $172.7k | $20.04 |
| − Vacancy | −$13.8k | −$1.60 |
| EGI | $158.9k | $18.44 |
| − OpEx | −$39.7k | −$4.61 |
| NOI | $119.2k | $13.83 |
8,620 SF · lease $20.04/SF/yr · vacancy 8.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.70M
$1.49M – $1.99M
NOI $119,194 @ 7.0% cap · market cap 6.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $128,002 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Seaglass Bodywork & Movement ...
Gym & Fitness Center
CONTROL COMP COSTS ...
Medical Clinic
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FAQs
What type of property is this?
Office building - 8,620 SF office building on 1.87 acres in Norfolk.
Where is this office building located?
The property is located at 839 Poplar Hall Dr Norfolk, VA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 8,620 SF single story office building on 1.87 acres.; Coveted C2 zoning allows for a range of office ventures.; Abundant parking and great visibility.
