Back to Search
Property profile & analytics
FOR LEASE
Medical Office Space
400 W Brambleton Ave Norfolk, VA 23510
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US87-3346659
For Lease
1 / 24
$28.50 SF/Yr
400 W Brambleton Ave, Norfolk, VA 23510
View Listing →
Property summary
AI-generated overview
This exceptional three-story medical office building, totaling 35,358 square feet, is located at 400 W Brambleton Ave, Norfolk, VA 23510, near Brambleton Ave & Botetourt Street. Built in 1977 and extensively renovated in 2023, the property boasts three suites, offering flexible space options ranging from 1,527 to 7,303 contiguous square feet. Currently, 8,830 square feet is available for lease. The building features convenient surface parking, a significant advantage in this desirable location. Enjoy stunning waterfront views and the benefit of on-site management. Its prime location offers easy access to Eastern Virginia Medical Center, Ghent, and Downtown Norfolk, along with major transportation routes. The building includes elevators for convenient access to all three floors. This is a rare opportunity to secure high-quality medical office space in a highly sought-after area. The property's recent renovation ensures modern amenities and a comfortable environment for both patients and staff. The ample parking and proximity to key medical facilities and transportation make this an ideal location for medical practices of all sizes.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1977
Total area
35,358 SF
Lot
2.1 ac (91,520 SF)
Zoning code
D-4
APN
60036400
UPID
US87-3346659
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Hague Cosmetic Center Medical Clinic Skin Care Clinic
-
The Therapy Network - Ghent Medical Clinic
-
The Hague Medi-Spa Spa & Massage Center Alternative Medicine Practice
-
The Hague Center Physician Medical Clinic
-
Dr. Robert H. Schnarrs, MD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.63M
Blend (final)
Blend
$3.23M
Owner & transaction history
Old Brandon 21st St Associates LLC · 20 yrs held
Old Brandon 21st St Associates LLC
since 2005
1 recorded transaction
Zoning & alternative use
D-4 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Adopted Zoning Ordinance
Top alternative use upside
Restaurant
$5.1M
+129.7%
Auto repair, garage
$4.3M
+92.2%
Industrial (general)
$3.1M
+40.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Norfolk submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norfolk submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,220,000
Current use
RESTAURANT
$5,095,000
Change: +130% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,265,000
Change: +92% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$3,115,000
Change: +41% · Conversion: Difficult
RETAIL STORES
$3,015,000
Change: +36% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,970,000
Change: +34% · Conversion: Easy
OFFICE BUILDING
$2,370,000
Change: +7% · Conversion: Easy
WAREHOUSE, STORAGE
$2,105,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$3.23M
Range $2.91M – $3.55M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$91 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$77,243
Tax year 2024
Assessed value
$6,179,400
Assessed 2024
Previous assessed
$6,044,400
+2.2% YoY
Effective rate
1.25%
On assessed value
Assessed land
$4,576,300
Assessed improvement
$1,603,100
Land market value
$4,576,300
Improvement market value
$1,603,100
Total market value
$6,179,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1977
Heating
FORCED AIR
Cooling
YES
Stories
3
Total area
35,358 SF
Lot
2.1 ac (91,520 SF)
Zoning code
D-4
APN
60036400
UPID
US87-3346659
Jurisdiction
NORFOLK CITY
Zoning & alternative use
D-4 · Norfolk, VAZoning D-4 · permitted uses
D-4 · Norfolk, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Adopted Zoning Ordinance
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.2M
RESTAURANT
Est. value
$5.1M
AUTO REPAIR, GARAGE
Est. value
$4.3M
INDUSTRIAL (GENERAL)
Est. value
$3.1M
RETAIL STORES
Est. value
$3.0M
COMMERCIAL (GENERAL)
Est. value
$3.0M
OFFICE BUILDING
Est. value
$2.4M
WAREHOUSE, STORAGE
Est. value
$2.1M
MEDICAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE BUILDING
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1977
Heating
FORCED AIR
Cooling
Yes
Stories
3
Lot
2.1 ac
Current owner
From public records · entity-resolved
Old Brandon 21st St Associates LLC
Entity
Mailing address
PO BOX 2491, NORFOLK, VA 23501-2491
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 27, 2005
$5,750,000
Old Brandon 21st St Associates LLC
Institute For Special Surgery LP
Special Warranty Deed
$2,350,000 · Townebank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
