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    Property profile & analytics

    3506 Military Hwy Norfolk, VA 23518-5502

    • Strip malls
    • 2,498 SF
    • 1.47 lot acres
    OFF-MARKET
    Value Estimation
    $1,175,000
    Last Sale
    Sep 22, 2022
    $968,000
    Location Intelligence
    Property ID
    US87-3349169
    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

    • Miller's / Convenience Store
    • Cromwell AM / Radio Broadcaster
    • bp / Convenience Store / Gas Station

    Property Details for 3506 Military Hwy

    Year built
    1954
    Lot size
    1.47 lot acres
    Property size
    2,498 SF
    Zone code
    C-2
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    42637200
    APU
    42637200

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $1,260,000

    • CAP approach

      CAP return
      Estimation
      6%
      $935,000
      6.5%
      $865,000
      7%
      $860,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $1,060,000
      Geo Method
      $1,000,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $1,030,000
      Retail
      $820,000
      Mixed-Use
      $1,090,000
      Hospitality
      $820,000
      Educational
      $895,000
      Residential Income
      $990,000
      Energy
      $900,000
      Income-Based Land
      $945,000
      Food Service
      $1,040,000

    Location Insight

    • Map
    • Local Demand
    City
    Norfolk
    County
    Norfolk City
    State
    Virginia
    Longitude
    -76.22
    Latitude
    36.8908
    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
    $15,238
    $766,600
    $452,400
    $1,219,000
    -
    $766,600
    $452,400
    $1,219,000

    Comparable in this City

    • Value Estimation by Request
      12,038 SF

      1766 Little Crk Rd

      SHOPPING CENTER, STRIP CENTER • 12,038 SF
      1766 Little Crk Rd, Norfolk, VA 23518-4202
      View Details
    • Value Estimation by Request
      8,180 SF

      7920 Chesapeake Blvd

      SHOPPING CENTER, STRIP CENTER • 8,180 SF
      7920 Chesapeake Blvd, Norfolk, VA 23518-3800
      View Details
    • Value Estimation
      $1,170,000
      10,648 SF

      3574 Military Hwy

      SHOPPING CENTER, STRIP CENTER • 10,648 SF
      3574 Military Hwy, Norfolk, VA 23518-5543
      View Details
    • Value Estimation
      $11,450,000
      142,092 SF

      1819 Little Crk Rd

      SHOPPING CENTER, STRIP CENTER • 142,092 SF
      1819 Little Crk Rd, Norfolk, VA 23518-4203
      View Details
    • Value Estimation by Request
      9,280 SF

      1301 Little Crk Rd

      SHOPPING CENTER, STRIP CENTER • 9,280 SF
      1301 Little Crk Rd, Norfolk, VA 23518-3947
      View Details
    • Value Estimation by Request
      12,561 SF

      3201 Ocean Vw Ave

      SHOPPING CENTER, STRIP CENTER • 12,561 SF
      3201 Ocean Vw Ave, Norfolk, VA 23518-1371
      View Details

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      12,579 SF

      Shore Drive Retail Opportunity

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    Similar Nearby for Lease

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      1,500 SF

      Norfolk Retail Space for Lease

      Grocery-anchored shopping center space available in Norfolk, Virginia.
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      View Details
    • Contact for pricing
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      Retail property with significant frontage and high traffic volume.
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    • Contact for pricing
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      8,250 SF shopping center redevelopment with high visibility.
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      Retail property with high visibility and ample parking.
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    • Contact for pricing
      109,180 SF

      Roosevelt Gardens Retail Center

      Norfolk, VA Neighborhood Center - Multiple Suites Available
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    • $8 SF/Yr
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      Roosevelt Gardens Shopping Center

      Norfolk Retail Center: Spaces Available
      2300 Little Creek Rd, Norfolk, VA 23518
      View Details
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    3506 Military Hwy
    Norfolk, VA 23518-5502
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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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