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Property profile & analytics
FOR SALE
Turn key restaurants

1501 E Little Creek Rd Norfolk, VA 23518

2,987 SF 0.72 ac lot Built 1984
Entity Owned Absentee Owner Free & Clear
Property ID
US87-3388530
Property summary
AI-generated overview

This exceptional commercial property, located at 1501 E Little Creek Road in Norfolk, VA, presents a unique investment opportunity. Situated on a 0.72-acre lot, this building boasts a prime location with excellent visibility on a heavily traveled road, ensuring high traffic flow and potential for significant customer reach. The property is conveniently equipped with sidewalks, catering to pedestrian traffic and walk-in customers. Currently zoned C2, the property offers versatile usage options, including restaurant, retail, or general business operations. Previous uses include a check cashing and payday loan business, suggesting adaptability to various commercial ventures. Other potential uses, such as a pawn shop or thrift store, are also feasible given the location and zoning. The property features a recently repaved parking lot, providing ample parking for customers and employees. Interior improvements include fresh paint and new carpeting. The building is being sold "as is," allowing for potential buyers to customize the space to their specific business needs. While a conditional use permit is required for dealership operations, the property's strategic location and ample parking make it a strong candidate for such a venture. This is a rare opportunity to acquire a well-located commercial property in a thriving area of Norfolk, offering significant potential for growth and return on investment. The asking price is $895,000.

Property profile
Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1984
Total area 2,987 SF
Lot 0.72 ac (31,372 SF)
Zoning code C-2
APN 43808410
UPID US87-3388530
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
Current use
Occupant on record · Public records
  • Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
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Owner & transaction history
FIFTEEN-O-ONE COMPANY
FIFTEEN-O-ONE COMPANY
Zoning & alternative use
C-2 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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