Light Industrial
For Sale
$850,000
916 W 25th Street, Norfolk, VA 23517
Commercial/Industrial, Norfolk, VA
Property Size4,796 SF
Lot Size0.21 Acres
Price / SF$177.23
Days on Market71
Property Features for 916 W 25th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
I-1
Subdivision
OLD DOMINION PLACE
Standard status
Active
Size
4,796 SF
Lot size
0.21 Acres
Additional Details
Property Use
Light Industrial
Taxes and HOA fees
Tax Annual Amount
4058
Building Details
Year built
1948
Roof type
Shingle
Listing Agency:
COVA Home Realty
(757) 287-9695
Listed By:
Kenneth Foster
(757) 287-9595
Added: Aug 28
Changed: Nov 4
Last Checked: Nov 6 at 8:06AM
MLS# 10651450
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 industrial property contains 4,796 square feet on a 0.21-acre parcel. Built in 1948, the building has a shingle roof and I-1 zoning.
The property is located at 916 W 25th Street in Norfolk, Virginia, 23517.
The property is located at 916 W 25th Street in Norfolk, Virginia, 23517.
Key Highlights
- 4,796‑square‑foot industrial property
- 0.21‑acre parcel
- I‑1 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,425
Cap Rate
3.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$628,500
$628.5K
Cap Rate 7%
$448,929
$448.9K
Cap Rate 9%
$349,167
$349.2K
Market Conditions
NOI Build-Up for 4,796 SF
Gross rent
$46.6K $9.72/SF
− Vacancy
−$1.7K −$0.36/SF
EGI
$44.9K $9.36/SF
− OpEx
−$13.5K −$2.81/SF
NOI
$31.4K $6.55/SF
Area
Norfolk, VA
Vacancy
3.70%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$628,500
Cap Rate 7%
$448,929
Cap Rate 9%
$349,167
Alternative Uses
Best Use
Industrial
$448.9K
$392.8K – $523.8K
NOI $31,425 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$890.2K – $1.19M
NOI $71,218 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,705
Businesses Nearby
Explore this area
Business Placement
Demographics for 23517, VA
5,237
Population
2,901
Households
1.8
Avg Household Size
33
Median Age
55%
College-Educated
97%
High-School Grad
0.8 sq mi
ZIP Area
6,546
Density / Sq Mi
$63,556
Median Household Income
$46,689
Median Earnings
$1,397
Median Rent
$355,800
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Industrial property - I-1 zoning and a compact building footprint define this industrial property.
Where is this industrial property located?
The property is located at 916 W 25th Street Norfolk, VA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 4,796‑square‑foot industrial property; 0.21‑acre parcel; I‑1 zoning
