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Financial
Distress signals
Property profile

1501 E Little Creek Rd Norfolk, VA 23518

FOR SALE
Turn key restaurants
Property ID
US87-3388530
2,987 SF 0.72 ac lot Built 1984
Entity Owned Owner of record is a legal entity (LLC / corporation). Absentee Owner Owner mailing address differs from the property address. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

The property is a commercial building located on a heavily traveled road with sidewalks for pedestrian access. It is zoned C2, permitting a variety of business uses such as restaurants and retail; a conditional use permit is required for use as a dealership. The building contains 2,987 square feet and has been updated with interior paint and new carpet. Off-street parking is available on a repaved parking lot. The property was previously used for a check cashing payday loan business and is…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2024

What does the county charge?
$10k
Tax billed · 2024
Assessed value$761k
Assessed land$471k
Assessed improvement$290k
Effective rate1.25%

Value estimate

· Oct 2026
$385k
$347k – $424k
AI approach$355k
NOI build-up
Gross scheduled income$51k
Vacancy & credit loss−$2k
Operating expenses−$15k
NOI · 3.79% cap applied$34k

Realmo valuation models over county records.

Recently sold

No data for this section
What actually traded nearby?

No cleaned sale $/SF benchmark exists for this use type in this ZIP, submarket or county yet.

Cap rate analysis

How does the asset earn?
3.79%
$34k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
C-2
JurisdictionNORFOLK CITY

Location intelligence

Which uses thrive at this corner?
Best fit: Law Firm
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Law Firm16.0
Parking Facility12.6
Electrical Service11.8

Location

1501 E Little Creek Rd Norfolk, VA 23518
County assessor Recorded deeds · not on file Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 17 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
7916 Old Ocean Vw, Norfolk, VA 23518-3714 $420,000 Jan 2025 3,240 SF
2325 Little Crk, Norfolk, VA 23518-3205 $550,000 Dec 2024 3,444 SF
2437 Little Crk, Norfolk, VA 23518-3207 $1,700,000 Jan 2024 2,860 SF
8418 Tidewater, Norfolk, VA 23518-2541 $250,000 Sep 2023 3,000 SF
3506 Military, Norfolk, VA 23518-5502 $968,000 Sep 2022 2,498 SF
7919 Ardmore, Norfolk, VA 23518-3811 $200,000 Jun 2022 3,076 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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