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Property profile & analytics
FOR LEASE
Strip malls
2301 Colley Ave Norfolk, VA 23517
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US87-3378709
For Lease
1 / 2
Contact for pricing
2301 Colley Ave, Norfolk, VA 23517
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1966
Total area
45,079 SF
Lot
3.83 ac (166,965 SF)
Zoning code
C-3
APN
14030005
UPID
US87-3378709
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
-
Dragon City Restaurant
-
Andy's Beauty Salon Hair Salon Nail Salon
-
Andy's Barber Shop Barber Shop
-
Colley Village Shopping Center & Mall
-
Virginia ABC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$835k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.43M
Blend (final)
Blend
$1.14M
Owner & transaction history
Ferebee Associates LLC · 6 yrs held
Ferebee Associates LLC
since 2020
1 recorded transaction
Zoning & alternative use
C-3 · Norfolk, VA
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Norfolk submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norfolk submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$835,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.14M
Range $1.02M – $1.25M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$25 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$42,940
Tax year 2024
Assessed value
$3,435,200
Assessed 2024
Previous assessed
$3,371,600
+1.9% YoY
Effective rate
1.25%
On assessed value
Assessed land
$2,766,300
Assessed improvement
$668,900
Land market value
$2,766,300
Improvement market value
$668,900
Total market value
$3,435,200
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1966
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
45,079 SF
Lot
3.83 ac (166,965 SF)
Zoning code
C-3
APN
14030005
UPID
US87-3378709
Jurisdiction
NORFOLK CITY
Zoning & alternative use
C-3 · Norfolk, VAZoning C-3 · permitted uses
C-3 · Norfolk, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Adopted Zoning Ordinance
Building & site characteristics
From public records
Year built
1966
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
3.83 ac
Current owner
From public records · entity-resolved
Ferebee Associates LLC
Entity
Mailing address
PO BOX 3580, NORFOLK, VA 23514-3580
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 30, 2020
—
Ferebee Associates LLC
—
Deed
related
$750,000 · Townebank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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