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    241 Granby St Norfolk, VA 23510

    Sponsored
    For Sale
    $1,600,000

    Historic District, 6,400 SF, High Potential

    Property size:
    6,400 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional two-story, 6,400 square foot restaurant and bar is located at 241 Granby Street in Norfolk, Virginia's historic district. The property, zoned D-3, sits on a 0.03-acre lot and is offered at $1,600,000 ($297 per square foot). The sale includes the business goodwill of the former Brick Anchor Brew House and the commercial condominium portion. The space features a main floor restaurant and bar area, plus a mezzanine level offering additional dining, lounge, and office space. This is one of the largest restaurant spaces in the area, previously boasting one of the largest tap selections. Opportunities for growth include expanding operational hours, leveraging private functions and events, and creating a unique second-floor theme. The seller is willing to assist with the transition, introducing past clients, catering partners, and vendors. This prime location presents a significant investment opportunity in a thriving downtown area. The property's address is 241 Granby St, Norfolk, VA 23510.

    Property Features for 241 Granby St

    General Information

    Property type
    Restaurants
    Square Feet
    6,400 SF
    Lot Size
    1,307 SF

    Building Details

    Stories
    2

    HighLights

    • $1,600,000 asking price for a 6,400 SF retail property.
    • Located at 241 Granby St, Norfolk, VA 23510.
    • Two‑story restaurant/bar with mezzanine; D‑3 zoning.
    • 0.03‑acre lot; $297/SF.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Realty agency Restaurant Spa & Massage Hair Salon Dental Office Law Firm Nail Salon Building Supply Gym & Fitness Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Norfolk
    County
    Norfolk county
    State
    Virginia
    Longitude
    -76.2911514
    Latitude
    36.8491583

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    FAQs

    What type of property is this?
    Restaurant - Historic District, 6,400 SF, High Potential
    Where is this restaurant located?
    The property is located at 241 Granby St Norfolk, VA.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: $1,600,000 asking price for a 6,400 SF retail property.; Located at 241 Granby St, Norfolk, VA 23510.; Two-story restaurant/bar with mezzanine; D-3 zoning.
    Request Owner's contact information
    241 Granby St Norfolk, VA 23510
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    Norfolk, VA 23510
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    241 Granby St Norfolk, VA 23510
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