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    Property profile & analytics

    2706 Colley Ave Norfolk, VA 23517

    • Retail space
    • 3,627 SF
    • 0.64 lot acres
    For Lease
    View listing
    $21 SF/Yr
    Value Estimation
    Location Intelligence
    Property ID
    US87-3380692
    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

    • Retail space

    Property Details for 2706 Colley Ave

    Year built
    1938
    Lot size
    0.64 lot acres
    Property size
    3,627 SF
    Zone code
    C-2
    Property type
    Retail space
    APN
    44491705
    APU
    44491705

    Description

    Park Place Shops, located at 2706 Colley Ave in Norfolk, Virginia (zip code 23517), offers prime retail space in a vibrant commercial area. This multi-tenant property boasts a total of 5,250 square feet, with flexible lease options available. Currently, 8,585 square feet are vacant, offering significant opportunities for businesses seeking immediate occupancy. Units range from a minimum of 1,325 square feet to a maximum contiguous space of 5,250 square feet, catering to a variety of business needs and sizes. The property is zoned C-C, ensuring compatibility with a wide range of retail uses. Ample parking is provided with 36 spaces available for tenants and customers. This location in Norfolk County offers excellent visibility and accessibility, making it an ideal choice for businesses looking to establish or expand their presence in a thriving market. The property's convenient location and flexible space options make it a highly attractive investment opportunity. Interested parties should inquire about available units and lease terms.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Norfolk
    County
    Norfolk City
    State
    Virginia
    Longitude
    -76.2945
    Latitude
    36.8754
    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
    $12,110
    $578,700
    $390,100
    $968,800
    -
    $578,700
    $390,100
    $968,800

    Comparable in this City

    • Value Estimation by Request
      13,628 SF

      2401 Hampton Blvd

      RETAIL STORES (PERSONAL SERVICES) • 13,628 SF
      2401 Hampton Blvd, Norfolk, VA 23517-1003
      View Details
    • Value Estimation by Request
      4,410 SF

      2100 Monticello Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,410 SF
      2100 Monticello Ave, Norfolk, VA 23517-2343
      View Details
    • Value Estimation
      $280,000
      8,032 SF

      2111 Colonial Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,032 SF
      2111 Colonial Ave, Norfolk, VA 23517-1926
      View Details
    • Value Estimation
      $425,000
      1,747 SF

      839 21st St

      RETAIL STORES (PERSONAL SERVICES) • 1,747 SF
      839 21st St, Norfolk, VA 23517-1513
      View Details
    • Value Estimation
      $405,000
      3,740 SF

      901 21st St

      RETAIL STORES (PERSONAL SERVICES) • 3,740 SF
      901 21st St, Norfolk, VA 23517-1515
      View Details
    • Value Estimation
      $270,000
      5,000 SF

      1601 Colley Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,000 SF
      1601 Colley Ave, Norfolk, VA 23517-1609
      View Details

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    Similar Nearby for Lease

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      Retail Space Available For Rent

      Retail space available for lease in Norfolk, Virginia.
      226 W 25Th St, Norfolk, VA 23517
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      Retail Space in Norfolk Center

      Retail space available in shopping center with national tenants.
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    • $21 SF/Yr
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      Retail Space on Colley Avenue

      Retail space available for lease in Norfolk, Virginia.
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      Ghent Retail Space For Rent

      Retail spaces available in Ghent with on-site parking.
      201 W 21St St, Norfolk, VA 23517
      View Details
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    2706 Colley Ave
    Norfolk, VA 23517
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    Realmo Value Estimation

    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.

    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.

    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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