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Property profile & analytics
FOR LEASE
Outlet malls

5301 E Princess Anne Rd Norfolk, VA 23502

27,488 SF 2.3 ac lot Built 1960
Entity Owned Absentee Owner Free & Clear
Property ID
US87-3360878
Property summary
AI-generated overview

This exceptional 27,488-square-foot flex space at 5301 E. Princess Anne Road in Norfolk, Virginia, presents a unique opportunity for a variety of businesses. The single-story, Class C building, constructed in 1960, sits on a 2.3-acre lot and offers a versatile layout previously used as a trade school. The property features adaptable spaces suitable for office, institutional, warehousing, or professional service operations. Existing administrative and classroom areas are available, providing immediate functionality. The warehouse area boasts a significant 19'6" ceiling height and includes one 12' x 12' roll-up door for convenient loading and unloading. Ample parking is provided with 165 spaces. The property is zoned C-C (Community Commercial) and is conveniently located within the Norfolk Industrial Park submarket, just 1.5 miles from I-64 and a short 2-mile drive to the Norfolk Premium Outlets and Ikea, ensuring excellent accessibility and visibility. The building features a 17'6" ceiling height in the office areas. This property offers a compelling combination of space, location, and adaptability, making it an attractive option for businesses seeking a functional and strategically positioned location in Norfolk.

Property profile
Verified
Property type Outlet malls
Use group WHOLESALE OUTLET, DISCOUNT STORE
Year built 1960
Total area 27,488 SF
Lot 2.3 ac (100,232 SF)
Zoning code C-2
APN 11652
UPID US87-3360878
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
  • Top Tier Solar Solutions Solar Energy Company
  • Cox Hampton Roads Telecommunications Service
  • Employment Services Inc Employment Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.91M
Blend (final) Blend
$2.43M
Owner & transaction history
A & A ASSOCIATES
A & A ASSOCIATES
Zoning & alternative use
C-2 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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