Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    25Th St Norfolk, VA 23508

    Sponsored
    For Lease
    Contact for pricing

    Ghent, Norfolk retail space available

    Lot size:
    120,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This vibrant 120,000 square foot retail center, located in Norfolk, Virginia's desirable Ghent submarket at Hampton Boulevard and W. 25th Street (zip code 23508), offers exceptional opportunities for businesses of all sizes. Ten spaces are currently available, ranging from 1,465 to 4,397 contiguous square feet, with a total of 25,551 square feet currently vacant. The property boasts ample patio areas and a central courtyard, creating a welcoming atmosphere for shoppers and tenants. A Lidl grocery store serves as an anchor tenant, drawing significant foot traffic. A Regus co-working space is also coming soon, further enhancing the property's appeal. The strategic location benefits from proximity to several key drivers of economic activity, including the world's largest naval base (Naval Station Norfolk), Old Dominion University (including its Ted Constant Convocation Center and new football stadium), and the Sentara Regional Medical Complex (with its children's hospital, heart center, and Eastern Virginia Medical School). Hundreds of new apartment units are under development in the adjacent Railroad District, promising a growing residential population. The surrounding historic neighborhoods are known for their high-income residents and highly educated population. The property is zoned C-2 and offers generous parking with a ratio of 4.9 spaces per 1,000 square feet. This prime location presents a unique investment opportunity within a thriving and expanding community.

    Property Features for 0 25Th St

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    120,000 SF

    Unit(s) available at that property

    Space
    Building 3B
    Size
    3,802 SF
    Space
    Building 5 (2nd Floor)
    Size
    2,885 SF
    Space
    Building 6 (2nd Floor)
    Size
    4,397 SF
    Space
    Building 7 Space A
    Size
    2,840 SF
    Space
    Building 7 Space B
    Size
    3,280 SF
    Space
    Building 5
    Size
    2,450 SF
    Space
    Building 8B
    Size
    2,203 SF
    Space
    Building 8C
    Size
    1,465 SF
    Space
    Building 8E
    Size
    2,229 SF
    Space
    Building 8F
    Size
    1 SF

    HighLights

    • 120,000 SF retail center in Norfolk, VA's Ghent submarket (23508), at Hampton Blvd & W. 25th St.
    • Ten available spaces, 1,465‑4,397 SF contiguous, totaling 25,551 SF vacant.
    • Ample patio space, central courtyard, and Lidl grocery store anchor tenant.
    • Regus co‑working space coming soon, strong proximity to Naval Station Norfolk, Old Dominion University, and Sentara Regional Medical Complex.
    • C‑2 zoning, 4.9 parking spaces per 1,000 SF.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Norfolk
    County
    Norfolk
    State
    Virginia
    Longitude
    -76.3018791
    Latitude
    36.8755567

    Nearby Similar for Lease

    • $28 SF/Yr
      6,400 SF

      Downtown Norfolk Restaurant/Bar Space

      6,400 SF restaurant/bar with commercial kitchen for lease.
      241 Granby St, Norfolk, VA 23510
      View Details
    • $6,000 /Mo
      3,000 SF

      Office Space with Included Utilities

      First floor office suites with amenities and included utilities.
      6024 Virginia Beach Blvd, Norfolk, VA 23502
      View Details
    • $18 SF/Yr
      1,865 SF

      Norfolk Office Space For Lease

      Second-floor office suite with utilities included and ample parking.
      1208 Little Creek Rd, Norfolk, VA 23518
      View Details
    • $1.78 SF/Yr
      3,200 SF

      Office Space with Ample Parking

      Office spaces for lease, conveniently located near amenities.
      1512 E Little Creek Rd, Norfolk, VA 23518
      View Details
    • Contact for pricing
      1,500 SF

      Norfolk Retail Space for Lease

      Grocery-anchored shopping center space available in Norfolk, Virginia.
      2300-2376 E Little Creek Rd, Norfolk, VA 23518
      View Details
    • $22 SF/Yr
      6,757 SF

      Class A Office Space Norfolk

      Class A office building in Norfolk's financial district.
      300 E Main St, Norfolk, VA 23510
      View Details
    • Contact for pricing
      1,455 SF

      Retail Space in Norfolk, VA

      Retail space available in up-and-coming Norfolk location.
      2501 Hampton Blvd, Norfolk, VA 23517
      View Details
    • Contact for pricing
      4,397 SF

      Retail Space in Growing Area

      Up-and-coming retail site near naval base and university.
      1215 W 25Th St, Norfolk, VA 23508
      View Details
    • Contact for pricing
      1,209 SF

      Modern Office Space with Amenities

      Renovated office suites with gym, deli, and conference rooms.
      6353 Center Dr, Norfolk, VA 23502
      View Details
    • Contact for pricing
      1,273 SF

      Modern Office Space Ready Now

      Move-in ready office suites with modern amenities and convenient location.
      6387 Center Dr, Norfolk, VA 23502
      View Details
    • Contact for pricing
      2,229 SF

      Retail Space in Norfolk, VA

      Retail space available for rent in Norfolk, Virginia.
      2401 Hampton Blvd, Norfolk, VA 23517
      View Details
    • Contact for pricing

      Retail Space in Southern Center

      Retail space available in well-leased shopping center near naval station.
      7525 Tidewater Dr, Norfolk, VA 23505
      View Details

    FAQs

    What type of property is this?
    Retail property - Ghent, Norfolk retail space available
    Where is this retail property located?
    The property is located at 25Th St Norfolk, VA.
    What are key features of this property?
    This property features: 120,000 SF retail center in Norfolk, VA's Ghent submarket (23508), at Hampton Blvd & W. 25th St.; Ten available spaces, 1,465-4,397 SF contiguous, totaling 25,551 SF vacant.; Ample patio space, central courtyard, and Lidl grocery store anchor tenant.
    Request Owner's contact information
    25Th St Norfolk, VA 23508
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    25Th St
    Norfolk, VA 23508
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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
    25Th St Norfolk, VA 23508
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.