Technical
Financial
Distress signals
Property profile

2300 E Little Creek Rd Norfolk, VA 23518

FOR LEASE
Community centers
Property ID
US87-3391909
109,079 SF 8.26 ac lot Built 1956
Entity Owned Absentee Owner Free & Clear
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Property summary

AI-generated overview

Roosevelt Gardens, a thriving 109,180 square foot neighborhood retail center in Norfolk, Virginia, presents a unique investment opportunity. Located at 2300 E Little Creek Road, this established center boasts 8.86 acres of land and is zoned C-3. The property features four suites, with a minimum divisible space of 678 square feet and a maximum contiguous space of 7,500 square feet. Currently, 16,238 square feet are available for lease. This center benefits from a strong tenant roster, including national brands like Save-A-Lot, Cato, Wells Fargo, Hibbett Sports, Dunkin' Donuts, and Pizza Hut, many of whom have enjoyed long-term success at this location – fifteen for over 10 years and six for over 20 years. Three major tenants have leases extending beyond 2024, ensuring long-term stability for the property. The center is situated in the densely populated E Little Creek submarket of Norfolk County (zip code 23518), targeting a middle-income demographic. This prime location offers excellent visibility and accessibility, making it an ideal investment for both established and emerging businesses. The property's history of success and strong tenant base make it a compelling opportunity for investors seeking a stable and profitable retail investment in a vibrant community.

Property profile

Verified
Property type Community centers
Use group MINI-MALL
Year built 1956
Total area 109,079 SF
Lot 8.26 ac (359,588 SF)
Zoning code C-3
APN 18259811
UPID US87-3391909

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
  • Cafe & Coffee Shop
  • Tattoo & Piercing Shop
  • Shopping Center & Mall

Location

2300 E Little Creek Rd Norfolk, VA 23518
Norfolk metro Census 6603 VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
$2.42M

Owner & transaction history

Zoning & alternative use

C-3 · Norfolk, VA

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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