2618 Colley Ave Norfolk, VA 23517-1132
Property profile & analytics
2618 Colley Ave, Norfolk, VA 23517-1132
- Retail space
- 6,408 SF
- 0.46 lot acres
Property ID
US87-3376907
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.
Location Intelligence
Current Use by Public Records
- Osage of Virginia / General Contractor
Property Details for 2618 Colley Ave
- Year built
- 1945
- Lot size
- 0.46 lot acres
- Zone code
- C-2
- Property type
- Retail space
- APN
- 809534
- APU
- 809534
Description
This exceptional free-standing flex building, totaling approximately 7,000 square feet, sits on a 0.46-acre lot and presents a unique investment opportunity. Built in 1945, the property features a single-tenant occupancy and offers a versatile layout ideal for a variety of businesses. The building comprises approximately 6,408 square feet of usable space, including approximately 3,468 square feet of conditioned office space. A notable feature is the approximately 1,000 square feet of bonus space located on the second floor of the office area, providing additional flexibility and potential for expansion. The warehouse space encompasses approximately 1,690 square feet of conditioned area and an additional 1,250 square feet of unconditioned space. Loading and unloading are facilitated by three overhead doors – one measuring 8' x 8' and two powered doors sized 9'H x 12'W, allowing for convenient drive-through access. The warehouse boasts an impressive 11-foot clear height. Security is enhanced by Hercules fencing with keypad access, ensuring peace of mind for the tenant. This property offers a blend of office and warehouse space, making it suitable for a wide range of industrial and commercial uses. Its convenient location and functional design make it an attractive option for businesses seeking a well-maintained and versatile space. The property's size and features make it a compelling investment opportunity in a desirable market.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,215,000
- 6.5%
- $1,120,000
- 7%
- $1,040,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $988,000
Market price range: $678k - $1.67M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,055,000 Current use
- OFFICE BUILDING
- $1,260,000 Change: +20% Conversion: Easy
- AUTO REPAIR, GARAGE
- $1,240,000 Change: +17% Conversion: Difficult
- INDUSTRIAL (GENERAL)
- $845,000 Change: -20% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Norfolk
- County
- Norfolk City
- State
- Virginia
- Longitude
- -76.2947
- Latitude
- 36.8747
- CBSA code
- 47260
- CBSA name
- VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$8,695
$420,400
$275,200
$695,600
-
$420,400
$275,200
$695,600
