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    Property profile & analytics

    1529 International Blvd Norfolk, VA 23513

    • Commercial real estate
    • 11,467 SF
    • 0.47 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-3399611
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • H&R Block / Tax Preparation
    • The Shears Lounge Beauty Salon, LLC / Hair Salon / Nail Salon
    • Crystal Nails / Nail Salon
    • Douglas Mitchell, MD / Pediatrician / Medical Clinic
    • Norfolk Pediatrics / Pediatrician / Medical Clinic

    Property Details for 1529 International Blvd

    Year built
    1999
    Lot size
    0.47 lot acres
    Property size
    11,467 SF
    Property type
    Commercial real estate

    Description

    This exceptional retail opportunity is located at 1529 International Blvd, Norfolk, VA 23513, within the Little Creek submarket of the Norfolk/Hampton Roads area. The Norview Shopping Center, a Class B property built in 1999, offers a total of 11,467 square feet across five suites. Currently, 6,500 square feet of retail space is available, with a minimum divisible space of 1,500 square feet. The property sits on 0.47 acres of land and boasts a building floor area ratio (FAR) of 0.6. Ample parking is provided with 510 spaces. The center is conveniently located at the intersection of N. Military Highway and International Blvd, zoned C2 (APN: 16991914). This single-building property does not include elevators. Ideal for businesses seeking high visibility and convenient access for customers, this location presents a strong opportunity to establish or expand a retail presence in a thriving Norfolk community. The available space is perfect for a variety of retail concepts, offering flexibility and the potential for significant growth. Contact us to learn more about leasing options and explore the possibilities this property offers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Norfolk
    County
    Norfolk City
    State
    Virginia
    Longitude
    -76.227022142088
    Latitude
    36.895646502726

    Comparable in this City

    • $10 SF/Yr

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      13,403 SF

      Norfolk Office Space For Rent

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      Industrial Single Tenant Space

      7,600 SqFt industrial space available for single tenant occupancy.
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      1,163 SF

      Norfolk Office/Flex Building For Rent

      Attractive office/flex building near Norfolk International Airport.
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      8,672 SF

      Norfolk Flex Space For Rent

      Single-story flex space with dock and grade loading access.
      2551 Eltham Ave, Norfolk, VA 23513
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      8,500 SF

      Norfolk Commerce Park Office Space

      Office/flex space in Norfolk Commerce Park, near airport.
      2600 Eltham Ave, Norfolk, VA 23513
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    Similar Nearby for Sale

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      9,600 SF

      Norfolk Industrial Building For Sale

      9,600 SqFt industrial building available for purchase.
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      Norfolk Land and Building For Sale

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      5,026 SF

      Two-Story Office Building For Sale

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    Similar Nearby for Lease

    • $10 SF/Yr

      Industrial Flex Space Available

      39,769 SF industrial flex space for lease in Norfolk.
      5358 Robin Hood Rd, Norfolk, VA 23513
      View Details
    • Contact for pricing
      13,403 SF

      Norfolk Office Space For Rent

      Office space for rent with ample parking and loading.
      5301 Robin Hood Rd, Norfolk, VA 23513
      View Details
    • Contact for pricing

      Industrial Single Tenant Space

      7,600 SqFt industrial space available for single tenant occupancy.
      2424 Alabama Ave, Norfolk, VA 23513
      View Details
    • Contact for pricing
      1,163 SF

      Norfolk Office/Flex Building For Rent

      Attractive office/flex building near Norfolk International Airport.
      5425 Robin Hood Rd, Norfolk, VA 23513
      View Details
    • Contact for pricing
      8,672 SF

      Norfolk Flex Space For Rent

      Single-story flex space with dock and grade loading access.
      2551 Eltham Ave, Norfolk, VA 23513
      View Details
    • Contact for pricing
      8,500 SF

      Norfolk Commerce Park Office Space

      Office/flex space in Norfolk Commerce Park, near airport.
      2600 Eltham Ave, Norfolk, VA 23513
      View Details
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    1529 International Blvd
    Norfolk, VA 23513
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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