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Property profile & analytics
OFF-MARKET Estimated value $4,100,000
Retail space

1074 47th St Norfolk, VA 23508-1910

4,860 SF 0.24 ac lot Built 1965
Individually Owned 1-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US87-3382511
Property summary
AI-generated overview

This exceptional retail opportunity presents 4,260 square feet of versatile space in the Old Dominion Shopping Center, located at 1074-1076 W. 47th Street, Norfolk, VA 23508, within Norfolk County. Currently entirely vacant, this property offers significant potential for a single tenant or can be subdivided to accommodate multiple businesses. Flexible space options include a 2,500 square foot unit and a 1,760 square foot unit, allowing for customization to suit diverse business needs. The property's prime location in Norfolk provides excellent visibility and accessibility, ensuring high foot traffic and strong potential for customer engagement. The "Old Dominion Shopping Center" designation offers established brand recognition and a pre-existing customer base. This is an ideal location for businesses seeking a high-traffic area with ample space for growth and expansion. The property is classified as a retail shopping center with multiple tenancy potential. This presents a unique chance to establish a strong presence in a thriving Norfolk community. The entire 4,260 square feet is available for immediate occupancy. Serious inquiries are encouraged to explore this exciting retail investment opportunity.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1965
Total area 4,860 SF
Lot 0.24 ac (10,250 SF)
Zoning code C-2
APN 17106100
UPID US87-3382511
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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$4.10M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$4.10M
Owner & transaction history
Old Dominion University Real Estate · 1 yrs held
Old Dominion University Real Estate
since 2024
Last sale
$4.1M
1 recorded transaction
2024
$4.1M
Zoning & alternative use
C-2 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source Adopted Zoning Ordinance
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