Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3301 Colley Ave Norfolk, VA 23508
    Back to Search
    Property profile & analytics

    3301 Colley Ave Norfolk, VA 23508

    View on Map
    • Office Units
    • 7,099 SF
    • 0.43 lot acres
    Off-Market
    Property ID
    US87-3418424
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • ABC Learning Center / Daycare Center
    • Security 101 - Hampton Roads / Security Service / General Contractor
    • ABC Community Empowerment Center / Social Service Agency / Charitable Organization

    Property Details for 3301 Colley Ave

    Year built
    1962
    Lot size
    0.43 lot acres
    Property size
    7,099 SF
    Property type
    Office Units

    Description

    This exceptional 7,099 square foot creative office building, located at 3301 Colley Avenue in Norfolk, Virginia, presents a compelling investment opportunity. Priced at $1,100,000 ($154.95/SF), this single-story, 1962-constructed property sits on a 0.43-acre lot boasting 111 feet of frontage on Colley Avenue, complete with three convenient curb cuts. The building features numerous capital improvements, details of which are available upon request. A net-net-net (NNN) lease is currently in place, extending through December 31, 2026, providing immediate and consistent cash flow. The property's creative office subtype makes it ideal for a variety of businesses seeking a unique and adaptable workspace. Its prime location in Norfolk, Virginia, zip code 23508, offers excellent visibility and accessibility. This is a rare opportunity to acquire a well-maintained, income-producing property with significant upside potential. Further details regarding the lease terms and capital improvements are available upon request. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Norfolk
    County
    Norfolk City
    State
    Virginia
    Longitude
    -76.2950877
    Latitude
    36.8765545

    Comparable in this City

    • $1,200,000

      Historic Norfolk Building For Sale

      31,645 SF historic landmark building in desirable Ghent Corridor.
      303 W 34Th St, Norfolk, VA 23508
      View Details
    • Contact for pricing
      943 SF

      Turnkey Restaurant Space Near Ghent

      Renovated restaurant space ideal for various food-service concepts.
      813 W 39Th St, Norfolk, VA 23508
      View Details
    • $49,900

      Buildable Lot in Norfolk, VA

      Buildable commercial land for sale in Norfolk, Virginia.
      116 W 38Th St, Norfolk, VA 23508
      View Details

    Similar Nearby for Sale

    • $1,200,000

      Historic Norfolk Building For Sale

      31,645 SF historic landmark building in desirable Ghent Corridor.
      303 W 34Th St, Norfolk, VA 23508
      View Details
    • Contact for pricing
      943 SF

      Turnkey Restaurant Space Near Ghent

      Renovated restaurant space ideal for various food-service concepts.
      813 W 39Th St, Norfolk, VA 23508
      View Details
    • $49,900

      Buildable Lot in Norfolk, VA

      Buildable commercial land for sale in Norfolk, Virginia.
      116 W 38Th St, Norfolk, VA 23508
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Space For Rent

      Second floor office space available for lease.
      4200 Colley Ave, Norfolk, VA 23508
      View Details
    • Contact for pricing
      1,515 SF

      Modern Office Space Near ODU

      State-of-the-art office space in Innovation Research Park.
      4111 Monarch Way, Norfolk, VA 23508
      View Details
    • Contact for pricing
      2,900 SF

      Norfolk Office Space For Rent

      Office space available for lease in Norfolk, Virginia.
      4200-4210 Colley Ave, Norfolk, VA 23508
      View Details
    • Contact for pricing

      VA, Norfolk - 25th St.

      Workspaces, services and support to help you work better in VA, Norfolk - 25th St.
      1225 25Th St, Norfolk, VA 23508
      View Details
    • Contact for pricing
      5,500 SF

      Retail Space in Growing Area

      Up-and-coming retail site near naval base and university.
      1215 W 25Th St, Norfolk, VA 23508
      View Details
    • Contact for pricing
      6,100 SF

      Retail Space on Colley Avenue

      Retail space available for lease on Colley Avenue.
      3800 Colley Ave, Norfolk, VA 23508
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3301 Colley Ave
    Norfolk, VA 23508
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3301 Colley Ave, Norfolk, VA, 23508
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!