Entity Owned Property summary
AI-generated overview
This exceptional 9,363-square-foot retail space, formerly a Rite Aid, presents a unique investment opportunity in Norfolk, Virginia. Located at 1101 E Little Creek Rd, 23518, this single-tenant building sits on a 0.88-acre lot and is zoned C-C. The property boasts a striking architectural storefront entrance, complemented by monument signage, ensuring high visibility and brand recognition. Constructed of masonry, steel, and glass, the building offers grade-level loading for convenient access and efficient operations. The strategic location provides excellent ingress and egress, with curb cuts connecting to major thoroughfares. Multiple interchanges to and from I-64 offer unparalleled accessibility for customers and employees. The entire 9,363 square feet is currently vacant, providing a blank canvas for a wide range of retail uses. This property represents a rare chance to acquire a well-located, high-visibility retail space in a thriving Norfolk market. The building's solid construction and prime location make it an ideal investment for both established businesses and new ventures seeking a strong foothold in the area. The ample space and convenient access make it suitable for a variety of retail concepts. This is a truly exceptional opportunity to secure a prominent retail presence in a high-traffic area.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1960
Total area
12,680 SF
Lot
2.25 ac (97,836 SF)
Zoning code
C-2
APN
12924700
UPID
US87-3369480
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
-
Restaurant
-
Food Processing Plant Factory
-
Atm
-
Physician
-
Pharmacy
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.22M
Comparable Approach
Comparable
$1.86M
Blend (final)
Blend
$1.95M
Owner & transaction history
since 2016
3 recorded transactions
Zoning & alternative use
C-2 · Norfolk, VA
Top alternative use upside
Office building
$2.5M
+19.6%
Auto repair, garage
$2.5M
+17.4%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 5 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.95M
Value range
$1.75M – $2.14M
±10% around blend
Estimated value / SF
$153 / SF
Confidence
High
5 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
50
$1.75M
blend $1.95M
$2.14M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
12,680 SF
Lot area
2.25 ac
Year built
1960
Stories
1
APN
12924700
Zoning
C-2
Assessed value
$2,343,600
Annual tax
$29,295
3
Income approach: direct capitalization
Partial preview
Income approach indication
$2.22M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$2.40M
@ 6.5% CAP return
$2.22M
@ 7% CAP return
$2.06M
4
Sales comparison
Partial preview
Sales approach indication
$2.72M
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
6.3 mi away · 10,177 SF
6.6 mi away · 9,147 SF
15.3 mi away · 11,204 SF
21.0 mi away · 11,196 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.95M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 52 sales
$165
-7%
County 52 sales
$165
-7%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $153/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+20%
vs current-use indication
Auto Repair, Garage
Retail Stores · current use
Industrial (general)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.34M
Move the market yield to see immediate price impact.
Value / SF
$185
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$148k
$2.95M
$2.11M
$1.64M
$164k
$3.28M
$2.34M
$1.82M
$180k
$3.61M
$2.58M
$2.01M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$2.70M
2.2 mi · Mar 2026 · $239/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$29,295
Tax year 2024
Assessed value
$2,343,600
Assessed 2024
Previous assessed
$2,352,700
-0.4% YoY
Effective rate
1.25%
On assessed value
Assessed land
$1,321,000
Assessed improvement
$1,022,600
Land market value
$1,321,000
Improvement market value
$1,022,600
Total market value
$2,343,600
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1960
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
1
Total area
12,680 SF
Lot
2.25 ac (97,836 SF)
Zoning code
C-2
APN
12924700
UPID
US87-3369480
Jurisdiction
NORFOLK CITY
Zoning & alternative use
C-2 · Norfolk, VAZoning C-2 · permitted uses
C-2 · Norfolk, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1960
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
2.25 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C-2
Jurisdiction
Norfolk, VA
Recorded code
C-2
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for C-2 in Norfolk, VA.
What opens after registration
Zoning profile
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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