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Property profile & analytics
FOR LEASE
Warehouses

5595 Raby Rd Norfolk, VA 23502

29,119 SF 5.89 ac lot Built 1964
Entity Owned 11-yr Hold ~ Est. High Equity
Property ID
US87-3367857
Property summary
AI-generated overview

This exceptional 14,400-square-foot property at 5595 Raby Road in Norfolk, Virginia, presents a unique opportunity for a single tenant seeking a combined office and warehouse space. Situated on a generous 5.89-acre lot, the building boasts a flexible layout ideal for a variety of businesses. The space is currently entirely vacant, offering immediate occupancy. The building features a mix of executive office space and warehouse functionality, with ceiling heights ranging from 16 to 21 feet, providing ample vertical storage capacity. Two dock-high doors and one drive-in door ensure efficient loading and unloading of goods. Ample parking is available on-site to accommodate employees and visitors. The property is zoned I-L (Light Industrial), making it suitable for a range of industrial and office uses. The building is powered by single-phase electricity. Located in Norfolk County, Virginia, with a zip code of 23502, this property offers convenient access to major transportation routes and amenities. This is a rare opportunity to secure a substantial, versatile property in a prime location. The entire 14,400 square feet is available for lease. Contact us today to schedule a viewing.

Property profile
Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1964
Total area 29,119 SF
Lot 5.89 ac (256,481 SF)
Zoning code I-2
APN 25248800
UPID US87-3367857
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Bearfight CrossFit Gym & Fitness Center
  • Office Furniture Outlet Furniture & Home Goods
  • East Front Cabinet Company Hardware & Home Improvement Furniture & Home Goods
  • ElectroKlean Commercial Cleaning Service
  • The Desk Doctor Furniture & Home Goods
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$3.57M
Comparable Approach Comparable
$1.95M
Blend (final) Blend
$2.75M
Owner & transaction history
Norfolk Commercial Property Managem · 11 yrs held
Norfolk Commercial Property Managem
since 2015
2 recorded transactions
2016
Price N/A
2015
$2.6M
Zoning & alternative use
I-2 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source Adopted Zoning Ordinance
Top alternative use upside
Industrial (general) $3.8M +21.2%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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