440 Granby St Norfolk, VA 23510-1914

This exceptional three-story, 6,000-square-foot mixed-use building in Norfolk, Virginia, presents a compelling investment opportunity. Located on Granby Street, this Class B property boasts a prime downtown location, adjacent to the Tide Light Rail and a city parking garage. The building is currently 100% occupied, generating a strong net operating income (NOI) of $75,600, resulting in a 7.96% capitalization rate. The property features 2,000 square feet of retail space on the first floor (currently a barber shop), 2,000 square feet of office space on the second floor, and a 2,000-square-foot residential apartment on the third floor. All units are currently under short-term leases, presenting significant upside potential for rental income increases. The property benefits from its proximity to key landmarks including the Federal Court Building, Wells Fargo Tower, Tidewater Community College, and the Scope Convention Center, as well as numerous restaurants. Norfolk's thriving downtown area, with ongoing revitalization projects and a growing workforce of approximately 30,000 employees, further enhances the investment potential of this property. The asking price is $950,000, offering a strong return on investment in a dynamic and desirable location. The property is zoned D-MU (Downtown Mixed Use) and is offered fee simple.