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211 West Freemason St, Norfolk, VA 23510
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Property summary
AI-generated overview
This exceptional mixed-use property at 211 W Freemason St, Norfolk, VA 23510 presents a unique owner-user investment opportunity. The 4,925 square foot building, constructed in 1955, boasts a desirable D-3 zoning designation. The two-story structure offers a blend of commercial and residential space, perfectly suited for a variety of uses. The first floor encompasses approximately 2,800 square feet of creative office space, currently leased to Sway Creative Labs, an independent advertising agency. This provides immediate rental income for an owner-occupant. The second floor features a luxurious 2,200 square foot apartment complete with a private rooftop deck, offering significant potential for rental income or personal use. The property's prime location in vibrant Downtown Norfolk places it within easy reach of numerous shopping, dining, and entertainment options. Its adjacency to the Freemason Abbey Restaurant further enhances its desirability. The asking price is $1,200,000, translating to $243.65 per square foot. This represents a compelling investment opportunity with significant upside potential in a thriving urban setting. The property's versatile layout and prime location make it an ideal choice for discerning investors seeking a blend of income generation and personal use.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1955
Total area
4,925 SF
Lot
0.06 ac (2,823 SF)
Zoning code
D-3
APN
17327702
UPID
US87-3358691
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
-
Marketing & Advertising (Bike/Boat/Book/etc) Store
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.15M
CAP Approach
CAP
$860k
Comparable Approach
Comparable
$869k
Blend (final)
Blend
$1.19M
Owner & transaction history
since 2025
Last sale
$1.0M
1 recorded transaction
Zoning & alternative use
D-3 · Norfolk, VA
Top alternative use upside
Office building
$970,000
+19.6%
Auto repair, garage
$950,000
+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.
Full NOI build-up · 6 steps
All 4 comparables with addresses
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.19M
Value range
$1.07M – $1.30M
±10% around blend
Estimated value / SF
$241 / SF
Confidence
Low
4 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
40
Income certainty
100
$1.07M
blend $1.19M
$1.30M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
4,925 SF
Lot area
0.06 ac
Year built
1955
Stories
2
APN
17327702
Zoning
D-3
Assessed value
$503,400
Annual tax
$7,098
3
Income approach: direct capitalization
Partial preview
Income approach indication
$860k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$930k
@ 6.5% CAP return
$860k
@ 7% CAP return
$800k
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$7,098
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$847k
Weighted, 4 comps · low confidence
Evidence
4 found · 4 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
0.1 mi away · 5,850 SF
0.4 mi away · 4,048 SF
12.4 mi away · 5,688 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.19M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 52 sales
$165
+46%
County 52 sales
$165
+46%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $241/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
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
Market benchmark
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 · 4 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
Selected market yield
4.70%
Selected cap rate for this retail space
Derived from the Norfolk market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 4.70%
9.0%
NOI (est.)
$68k *
Last sale · Mar 2025
$1.02M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.45M
Move the market yield to see immediate price impact.
Value / SF
$294
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
4.20%4.70%5.20%
$61k
$1.46M
$1.30M
$1.18M
$68k
$1.62M
$1.45M
$1.31M
$75k
$1.78M
$1.59M
$1.44M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
4 found
Low confidence · county-verified
Closest comparable
$600k
0.1 mi · May 2026 · $163/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$7,098
Tax year 2024
Assessed value
$503,400
Assessed 2024
Previous assessed
$496,600
+1.4% YoY
Effective rate
1.41%
On assessed value
Assessed land
$141,100
Assessed improvement
$362,300
Land market value
$141,100
Improvement market value
$362,300
Total market value
$503,400
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
For Sale
Year built
1955
Heating
FORCED AIR
Cooling
YES
Stories
2
Total area
4,925 SF
Lot
0.06 ac (2,823 SF)
Zoning code
D-3
APN
17327702
UPID
US87-3358691
Jurisdiction
NORFOLK CITY
Zoning & alternative use
D-3 · Norfolk, VAZoning D-3 · permitted uses
D-3 · 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
1955
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.06 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
D-3
Jurisdiction
Norfolk, VA
Recorded code
D-3
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for D-3 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.
Registration is required before the official district profile is shown.
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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.
One complete report on every paid plan · 30 · 300 reports per month.
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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