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301 Riverview Ave Norfolk, VA 23510

Medical Office Space Google Maps
210,897 SF 2.12 ac lot Built 2009
Entity Owned 13-yr Hold Free & Clear
Estimated value (blended)
$18.43M
Range $16.59M – $20.27M (±10%)
Property ID US87-3346671

Property summary

AI-generated overview

Sentara Fort Norfolk Plaza, a Class A, nine-story medical office building located at 301 Riverview Ave, Norfolk, VA 23510, offers exceptional opportunities for medical professionals. This multi-tenant building boasts a total of 196,205 square feet, with 25,619 square feet currently vacant. Spaces range from a minimum of 3,177 square feet to a maximum contiguous space of 12,965 square feet, providing flexibility for various practice sizes. The building's prime location in Norfolk, within Norfolk County, ensures high visibility and accessibility for patients. Its "A" class designation reflects its superior construction, amenities, and overall quality. This is an excellent opportunity to establish or expand your medical practice in a thriving and well-respected medical office complex. The building is situated in Norfolk, Virginia, offering convenient access to major transportation routes and a diverse patient population. Serious inquiries are encouraged to explore the available spaces and their potential to meet your specific needs. Contact us today to schedule a viewing and learn more about this exceptional medical office opportunity.

Property profile

Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 2009
Total area 210,897 SF
Lot 2.12 ac (92,434 SF)
Zoning code IN-2
APN 911604
UPID US87-3346671

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
  • Medical Clinic
  • Medical Clinic
  • Medical Clinic
  • Medical Clinic
  • Medical Clinic

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$17.31M
Blend (final) Blend
$18.43M

Owner & transaction history

since 2013
2 recorded transactions
2013
$38.4M
2008
$1.2M

Zoning & alternative use

IN-2 · Norfolk, VA
Top alternative use upside
Restaurant $30.4M +129.7%
Auto repair, garage $25.4M +92.2%
Industrial (general) $18.6M +40.6%

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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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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