Technical
Financial
Distress signals
Property profile

440 Monticello Ave 2A Norfolk, VA 23510

OFF-MARKET
Office buildings
Property ID
US87-3358649
24,710 SF 0.44 ac lot Built 2010
Entity Owned 9-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

The Wells Fargo Center, a prestigious Class A office building in downtown Norfolk, Virginia, offers a unique opportunity for businesses seeking prime office space. This 22-story tower, constructed in 2010 and boasting LEED Gold certification, provides 255,000 square feet of total space, with 70,317 square feet currently vacant and available for lease. The building is situated on a five-acre block in the heart of the city, at the intersection of Monticello Avenue and Charlotte Street, within the D-MU (Downtown - Mixed Use) zoning district. Multiple tenancy options are available, ranging from a minimum of 1,398 square feet to a maximum contiguous space of 24,500 square feet, catering to a variety of business needs. The building features ample parking with 1,859 spaces distributed across two convenient garages, ensuring easy access for employees and clients. High-speed elevators efficiently service all floors. The property's address is 440 Monticello Ave, Norfolk, VA 23510, and its location within the Downtown Norfolk submarket provides excellent access to amenities, transportation, and a vibrant urban environment. The APN is 1437071138, and the building is categorized as both Executive and Medical Office space.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING (MULTI-STORY)
Year built 2010
Total area 24,710 SF
Lot 0.44 ac (19,227 SF)
APN 10911002
UPID US87-3358649

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
  • (Bike/Boat/Book/etc) Store Corporate Office
  • Alternative Medicine Practice
  • Marketing & Advertising (Bike/Boat/Book/etc) Store
  • Law Firm
  • Law Firm

Location

440 Monticello Ave, Unit 2A Norfolk, VA 23510-2571
Norfolk metro Census 4900 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
$2.58M
Blend (final) Blend
$3.96M

Owner & transaction history

since 2016
1 recorded transaction
2016
$558,240

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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