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    Property profile & analytics

    850 Norview Ave Norfolk, VA 23513

    • Showrooms
    • 3,200 SF
    • 3.41 lot acres
    For Sale
    View listing
    Value Estimation
    Last Sale
    May 15, 2020
    $650,000
    Location Intelligence
    Property ID
    US87-3353542
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Showrooms

    Property Details for 850 Norview Ave

    Year built
    1950
    Lot size
    3.41 lot acres
    Property size
    3,200 SF
    Zone code
    I-1
    Property type
    Showrooms
    APN
    16523200
    APU
    16523200

    Description

    This exceptional Norfolk, Virginia property offers a unique investment opportunity encompassing a 2,000 square foot building and accompanying land. Situated at 850 Norview Ave, Norfolk, VA 23513, this versatile property is classified as industrial, with flex and warehouse subtypes, making it suitable for a variety of uses. The building itself provides 2,000 square feet of usable space, ideal for businesses requiring both office and storage capabilities. The inclusion of land presents significant potential for expansion or future development. The property's location in Norfolk County, Virginia offers convenient access to major transportation routes and a thriving business community. This combination of building and land provides a rare opportunity to acquire a well-positioned property in a desirable area. The property's versatility and potential for growth make it an attractive investment for both established businesses and entrepreneurs seeking a strategic location to expand their operations. The precise details of zoning and permitted uses should be verified independently. This property is being offered for sale and presents a compelling opportunity for those seeking a flexible and strategically located industrial space. The latitude and longitude coordinates are 36.891183, -76.254263.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $810,000

    • CAP approach

      CAP return
      Estimation
      6%
      $710,000
      6.5%
      $710,000
      7%
      $590,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $570,000
      Geo Method
      $715,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $645,000
      Retail
      $580,000
      Mixed-Use
      $660,000
      Hospitality
      $655,000
      Educational
      $585,000
      Residential Income
      $735,000
      Energy
      $720,000
      Income-Based Land
      $665,000
      Food Service
      $555,000

    Location Insight

    • Map
    • Local Demand
    City
    Norfolk
    County
    Norfolk City
    State
    Virginia
    Longitude
    -76.2543
    Latitude
    36.8912
    CBSA code
    47260
    CBSA name
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $8,101
    $597,700
    $50,400
    $648,100
    -
    $597,700
    $50,400
    $648,100

    Comparable in this City

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      2635 Arkansas Ave

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      4627 Cpe Henry Ave

      SHOW ROOM, WAREHOUSE • 2,409 SF
      4627 Cpe Henry Ave, Norfolk, VA 23513-3903
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    • Value Estimation
      $245,000
      3,839 SF

      2608 Florida Ave

      SHOW ROOM, WAREHOUSE • 3,839 SF
      2608 Florida Ave, Norfolk, VA 23513-4407
      View Details

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    850 Norview Ave
    Norfolk, VA 23513
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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
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