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    981 Scott St Norfolk, VA 23502

    Sponsored
    For Lease
    $126 SF/Yr

    18,300 SF Flex Space, Norfolk County

    Lot size:
    18,300 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 18,300-square-foot flex space at 981 Scott Street, Suite A, in Norfolk County offers a unique blend of office and warehouse functionality. Built in 2013, this Class C building boasts a single-tenant occupancy, making it ideal for a business seeking ample space and privacy. The layout comprises approximately 20% office space and 80% warehouse space, providing flexibility for various operational needs. The warehouse features a 24-foot clear ceiling height, two loading docks, and one drive-in door, ensuring efficient material handling. The property also includes ample parking and a fenced outside storage yard. Electrical systems include 3-phase, 600 amp/208 volts power. The building is equipped with an ESFR sprinkler system. Zoned I-G, this property offers significant potential. The lease rate is $10.50 per square foot, NNN, with an estimated 2024 operating expense of $1.94 per square foot. The building is constructed of split block.

    Property Features for 981 Scott St

    General Information

    Property type
    Distribution properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    18,300 SF
    Class
    C
    Total Rate
    192150

    Building Details

    Year Built
    2013

    Unit(s) available at that property

    Space
    Available Space
    Size
    18,300 SF
    Rate per SF
    $126

    HighLights

    • 18,300 SF flex/warehouse/distribution space available for lease in Norfolk County.
    • Single‑tenant occupancy in a Class C building constructed in 2013.
    • Features 24' clear height ceilings, two loading docks, one drive‑in door, and ample parking.
    • Equipped with 3‑phase, 600‑amp, 208‑volt power and an ESFR sprinkler system.
    • Zoned I‑G with fenced outside storage.
    Property Profile Location Intelligence

    Current Use by Public Records

    CORNERSTONE WORKPLACE SERVICES, ... Office Furniture Store Fairbanks Morse Manufacturer International Paint Ltd Paint Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Norfolk
    County
    Norfolk
    State
    Virginia
    Longitude
    -76.2422735
    Latitude
    36.8518125

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    FAQs

    What type of property is this?
    Distribution property - 18,300 SF Flex Space, Norfolk County
    Where is this distribution property located?
    The property is located at 981 Scott St Norfolk, VA.
    What is the lease rate?
    The lease rate is $126 SF/Yr.
    What are key features of this property?
    This property features: 18,300 SF flex/warehouse/distribution space available for lease in Norfolk County.; Single-tenant occupancy in a Class C building constructed in 2013.; Features 24' clear height ceilings, two loading docks, one drive-in door, and ample parking.
    Request Owner's contact information
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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
    981 Scott St Norfolk, VA 23502
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