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

    7912 Halprin Dr Norfolk, VA 23518

    For Sale
    $2,400,000

    Prime Vacant Retail Building, High Traffic

    Property size:
    12,110 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This 12,110 square foot vacant retail building, formerly a Rite Aid, is situated on a prominent corner lot at the intersection of Halprin Drive and East Little Creek Road in Norfolk, Virginia. The property boasts a high-traffic location, with over 30,000 vehicles passing daily, and is outparceled to the Roosevelt Gardens Shopping Center, anchored by national tenants such as Wells Fargo, Dunkin’ Donuts, and Pizza Hut. The building features a two-lane drive-thru and ample parking, and sits on a 1+ acre lot (over 47,000 square feet). Its strategic location benefits from proximity to major retailers including Walmart, 7-Eleven, and numerous fast-food restaurants, as well as Norfolk International Airport. The property is ideally positioned between the Norfolk Naval Station and Chesapeake Bay, a major east-west thoroughfare connecting the Virginia Port Authority with the Little Creek Fort Story Joint Expenditure Base. The strong local demographics, with over 84,000 people within a 3-mile radius and over 310,000 within a 15-minute drive, present a significant market opportunity. Built in 2001, this property offers a compelling investment opportunity with significant potential for value-add. The asking price is $2,400,000, with a price per square foot of $198.18. Multiple points of ingress and egress enhance accessibility. This is a rare opportunity to acquire a high-visibility retail property in a thriving Norfolk location.

    Property Features for 7912 Halprin Dr

    General Information

    Property type
    Individual retail properties
    Square Feet
    12,110 SF

    Building Details

    Year Built
    2001
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lewis Tharp Pharmacy Chi Huynh Pharmacy Amy M. Kam, ... Pharmacy

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Norfolk
    County
    Norfolk City
    State
    Virginia
    Longitude
    -76.2195212
    Latitude
    36.9155765

    Nearby Similar for Sale

    • $647,400
      4,110 SF

      Versatile Commercial Space in Norfolk

      Flexible commercial space in Norfolk's active Camellia Acres corridor.
      2474 E Little Creek Rd, Norfolk, VA 23518
      View Details
    • $1,600,000
      6,250 SF

      Versatile Commercial Office Building For Sale

      Stand-alone commercial building with office, flex, and storage space.
      6024 E Virginia Beach Blvd, Norfolk, VA 23502
      View Details
    • $1,395,000
      4,132 SF

      Turnkey Commercial Building in Norfolk

      Renovated commercial building with established tenants, a turnkey business opportunity.
      731 Granby St, Norfolk, VA 23510
      View Details
    • New
      $775,000
      2,000 SF

      Historic Norfolk Property with Restaurant

      Turn-key restaurant and bed & breakfast in historic Norfolk.
      1231 Boissevain Ave, Norfolk, VA 23507
      View Details
    • $800,000
      4,620 SF

      Turn-Key Church in Norfolk, Virginia

      Well-situated church with ample parking near downtown Norfolk.
      2733 Tidewater Dr, Norfolk, VA 23509
      View Details
    • $740,000
      2,750 SF

      Ocean View Quadplex Multi-Family Residential

      Fully furnished quadplex near the beach in Norfolk, Virginia.
      1427 W Ocean View Ave, Norfolk, VA 23503
      View Details

    FAQs

    What type of property is this?
    Individual retail property - Prime Vacant Retail Building, High Traffic
    Where is this individual retail property located?
    The property is located at 7912 Halprin Dr Norfolk, VA.
    What is the asking price?
    The asking price for this property is $2,400,000.
    Request Owner's contact information
    7912 Halprin Dr Norfolk, VA 23518
    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.
    7912 Halprin Dr
    Norfolk, VA 23518
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    7912 Halprin Dr Norfolk, VA 23518
    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.