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Property profile & analytics
OFF-MARKET Estimated value $1,460,000
Strip malls

520 21st St Norfolk, VA 23517-1950

35,625 SF 1.24 ac lot Built 2004
Individually Owned 20-yr Hold Free & Clear
Property ID
US87-3369105
Property summary
AI-generated overview

This exceptional executive office space, totaling 2,517 square feet, is situated within the prestigious 21 West Shopping Center in Norfolk, Virginia's vibrant Ghent commercial district. Located at 520 W 21st St, zip code 23517, this Class C office building offers a single-tenant occupancy opportunity within a larger 35,625 square foot complex. Built in 2004, the property boasts excellent visibility and accessibility, benefiting from its location on 21st Street, a thoroughfare experiencing a high volume of vehicular traffic (14,000 vehicles per day). The building's strategic placement ensures prominent exposure to Norfolk's thriving community. This presents a unique chance to establish a presence in a highly desirable area. The available space is part of a larger office building, providing potential for expansion or synergy with other businesses within the center. The property is located in Norfolk County and offers a convenient and well-connected location for businesses seeking a prime address in a bustling commercial hub. This is an ideal opportunity for businesses seeking a high-profile location with excellent visibility and accessibility in a well-established commercial district. The property's size and location make it suitable for a variety of executive office uses.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 2004
Total area 35,625 SF
Lot 1.24 ac (54,014 SF)
Zoning code C-2
APN 13720910
UPID US87-3369105
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
  • Katana Restaurant
  • Kung Fu Tea Ghent Cafe & Coffee Shop
  • ELG Consulting Group Real Estate Agency
  • Legerity (Bike/Boat/Book/etc) Store Corporate Office
  • Angioma Alliance Social Service Agency Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$940k
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.97M
Blend (final) Blend
$1.46M
Owner & transaction history
Maria R Sullivan · 20 yrs held
Maria R Sullivan
since 2006
4 recorded transactions
2025
Price N/A
2006
Price N/A
2005
Price N/A
2005
Price N/A
Zoning & alternative use
C-2 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source Adopted Zoning Ordinance
Top alternative use upside
Retail stores $2.3M +49.8%
Industrial (general) $2.3M +49.3%
Medical building $2.2M +43.1%
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