Technical
Financial
Distress signals
Property profile

1091 Norfolk Ave Virginia Beach, VA 23451

FOR LEASE
Community centers
Property ID
US87-2561072
11,000 SF 1.62 ac lot Built 1988
Entity Owned 3-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional retail opportunity is located within the Birdneck Community Shoppes, an established neighborhood center situated on a highly visible intersection near the Vibe Creative District in Virginia Beach, Virginia. The property boasts a total of 17,450 square feet and currently features one available suite encompassing 1,000 square feet of versatile space, perfect for a variety of retail uses. The building is located at 1091 Norfolk Ave, Virginia Beach, VA 23451, less than 1.5 miles from the popular Virginia Beach Boardwalk, ensuring high foot traffic and visibility. Ample parking is available, with a generous ratio of 5.69 parking spaces per 1,000 square feet of building area. This prime location offers excellent access to a thriving community and a strong customer base. The property is classified as Commercial Retail in Virginia Beach County and presents a unique chance to establish or expand a business in a desirable area. The single suite layout provides a cohesive and efficient space for a retailer seeking a well-positioned location within a vibrant community. Don't miss this opportunity to secure a prominent retail presence in a high-traffic area of Virginia Beach.

Property profile

Verified
Property type Community centers
Use group MINI-MALL
Year built 1988
Construction TYPE NOT SPECIFIED
Total area 11,000 SF
Lot 1.62 ac (70,393 SF)
Zoning code B2
APN 24175401990000
UPID US87-2561072

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
  • Medical Clinic
  • Barber Shop
  • Grocery & Convenience Store
  • Restaurant

Location

1091 Norfolk Ave Virginia Beach, VA 23451
Virginia Beach metro Census 44201 VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$475k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$770k

Owner & transaction history

since 2023
3 recorded transactions
2023
Price N/A
2022
$281,654
2021
Price N/A

Zoning & alternative use

B2 · Virginia Beach, VA
Zoning description

The purpose of the B-2 Community Business District is to provide land needed for community wide business establishments. This district is intended for general application in the city. It is intended that, by the creation…

General category COMMERCIAL

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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