21st St And Colley Ave Norfolk, VA 23517
The Center Shops presents a unique retail investment opportunity in Norfolk's desirable Ghent submarket. This established shopping center boasts a total of 128,543 square feet, currently featuring multiple tenants. Five spaces are immediately available, ranging from a minimum of 1,200 square feet to a maximum contiguous space of 1,200 square feet. A total of 3,600 square feet is currently vacant, offering flexibility for a variety of retail concepts. The property benefits from strong anchor tenants, including Farm Fresh and Rite Aid, ensuring consistent foot traffic and brand recognition. Its location within the upscale Ghent neighborhood provides excellent visibility and accessibility, complemented by ample parking for customers and employees. The Center Shops is ideally situated to capitalize on the thriving retail environment of Ghent, offering a compelling opportunity for businesses seeking a high-profile location in a desirable and affluent community. The minimum divisible space is 1,200 square feet, providing an excellent entry point for smaller businesses, while the available vacant space allows for expansion opportunities. This property is an exceptional choice for businesses seeking a well-established location with high visibility and strong anchor tenants in a thriving Norfolk neighborhood. Further details are available online.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.