Technical
Financial
Distress signals
Property profile

400 W Olney Rd Norfolk, VA 23507

FOR LEASE
Office buildings
Property ID
US87-3367549
9,433 SF 0.43 ac lot Built 1979
Entity Owned 2-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 2,500 square foot executive office space is ideally situated in the desirable ODU/Ghent submarket at 400 W. Olney Road. The entire building, totaling 2,500 square feet, is currently available for lease, presenting a unique opportunity for a single tenant to occupy the entire space. Built in 1999, the property sits on a substantial 16,695 square foot lot and includes ample parking with 15 spaces available. The building is comprised of seven rental units, indicating a well-established and potentially adaptable layout. The property's classification as both retail and office suggests versatile usage options, making it suitable for a variety of businesses. The large square footage and convenient parking make this an attractive option for companies seeking a prominent presence in a vibrant and established neighborhood. The entire 2,500 square feet is vacant and ready for immediate occupancy, allowing for quick and efficient setup. This is a rare opportunity to secure a substantial, well-located office space in a highly sought-after area. Interested parties are encouraged to inquire promptly.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1979
Total area 9,433 SF
Lot 0.43 ac (18,744 SF)
Zoning code PDMU-4
APN 2427200
UPID US87-3367549

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 Alternative Medicine Practice
  • HVAC Service General Contractor
  • Alternative Medicine Practice Spa & Massage Center
  • Gym & Fitness Center
  • Alternative Medicine Practice Acupuncture

Location

400 W Olney Rd Norfolk, VA 23507
Norfolk metro Census 4001 VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.83M
Blend (final) Blend
$1.31M

Owner & transaction history

since 2023
1 recorded transaction
2023
Price N/A

Zoning & alternative use

PDMU-4 · Norfolk, VA
Zoning description

il ordinance. The uses and development standards for those districts shall be determined by the ZA, in accordance with the adopted Council ordinance. Those districts are listed below: A. PDMU-1; B. PDMU-2; C. PDMU-3; D.…

General category PLANNED_DEVELOPMENT

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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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