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    1261 Military Hwy Norfolk, VA 23502

    Sponsored
    For Lease
    Contact for pricing

    High-traffic Norfolk retail space available

    Lot size:
    382,526 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Broad Creek Shopping Center, located at 1261 N Military Hwy, Norfolk, VA 23502, presents a prime retail investment opportunity. This B-2 zoned power center boasts a total of 382,526 square feet across three suites, situated on a substantial 43.06-acre lot. Currently, 5,210 square feet of retail space is available, divisible into units ranging from a minimum of 1,440 square feet to a maximum contiguous space of 2,000 square feet. The center benefits from a highly visible location along a major retail corridor, with convenient access to I-64 and I-264, ensuring strong regional draw. Anchored by Target, Home Depot, and Food Lion, Broad Creek Shopping Center offers exceptional visibility and accessibility for tenants. The property features a half-mile of frontage and three separate entrances, providing customers with easy access, ample parking, and a streamlined shopping experience. This location offers a unique opportunity to establish a presence in a thriving retail environment within Norfolk's dominant commercial area. The property's size and configuration make it suitable for a variety of retail uses.

    Property Features for 1261 Military Hwy

    General Information

    Property type
    Lifestyle centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    382,526 SF

    Unit(s) available at that property

    Space
    Suite 18
    Size
    1,770 SF
    Space
    Suite 17
    Size
    1,440 SF
    Space
    Suite 1
    Size
    2,000 SF

    HighLights

    • 30 popular retailers and restaurants with regional draw.
    • Military Highway expansion completed, accommodating increased traffic.
    • Less than two miles from IKEA and the Simon Outlet Mall.
    • 1,440 SF fully built‑out former hair salon available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Compact Power Equipment ... Equipment Rental Agency Penske Truck Rental Truck Rental Agency Tool & Truck Rental ... Tool Rental Service Pro Desk at The Home ... Building Materials Store The Home Depot Home Improvement Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Norfolk
    County
    Norfolk city
    State
    Virginia
    Longitude
    -76.2136595
    Latitude
    36.8670219

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    FAQs

    What type of property is this?
    Lifestyle center - High-traffic Norfolk retail space available
    Where is this lifestyle center located?
    The property is located at 1261 Military Hwy Norfolk, VA.
    What are key features of this property?
    This property features: 30 popular retailers and restaurants with regional draw.; Military Highway expansion completed, accommodating increased traffic.; Less than two miles from IKEA and the Simon Outlet Mall.
    Request Owner's contact information
    1261 Military Hwy Norfolk, VA 23502
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    Norfolk, VA 23502
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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
    1261 Military Hwy Norfolk, VA 23502
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