Property profile

1007 Bayview Blvd Norfolk, VA 23503

OFF-MARKET
Strip malls
Property ID
US87-3383015
7,750 SF 0.56 ac lot Built 1960
Individually Owned Absentee Owner Free & Clear
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Property summary

AI-generated overview

This 7,750 square foot restaurant and bar property, located at 1007 E Bayview Blvd in Norfolk, Virginia (zip code 23503), presents a unique investment opportunity. Currently zoned C-C, the property sits on a 0.56-acre lot (24,542 sq ft) and includes 10 parking spaces. The building offers 7,750 total square feet, with 4,750 square feet currently vacant. The property features 220V power and is conveniently located near Chesapeake Blvd in the Bayview Ocean View submarket. The property's APN is 2696060600. Please note that the property owner is awaiting resolution of back taxes from the previous business before access and availability can be confirmed. A city tax auction of the former restaurant's equipment is scheduled for December 9th and 10th. Details can be found at the provided link in the original listing. This property is ideal for a variety of food service concepts and offers significant potential for a new owner. The high visibility location and ample space make it an attractive proposition for entrepreneurs seeking a well-situated establishment in a thriving Norfolk neighborhood.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1960
Total area 7,750 SF
Lot 0.56 ac (24,542 SF)
Zoning code C-2
APN 26960600
UPID US87-3383015

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Bar & Pub

Location

1007 Bayview Blvd Norfolk, VA 23503-3919
Norfolk metro Census 202 VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$330k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$320k

Owner & transaction history

Zoning & alternative use

C-2 · Norfolk, VA

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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