Technical
Financial
Distress signals
Property profile

5353 Princess Anne Rd Norfolk, VA 23502

OFF-MARKET
Office buildings
Property ID
US87-3381114
5,183 SF 0.74 ac lot Built 1979
Entity Owned 5-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 0.74-acre commercial property at 5353 E Princess Anne Road in Norfolk, Virginia, presents a unique investment opportunity. Currently configured as a tattoo studio, the space boasts a thoughtfully designed layout ideal for a variety of professional uses. The interior features six or more generously sized offices, a dedicated conference room/lounge area perfect for client meetings or employee collaboration, and ample storage space that could easily be converted into additional offices while maintaining substantial storage capacity. Two restrooms, one for men and one for women, are conveniently located near the front reception/waiting area, with an additional private restroom for enhanced privacy. The property also offers exclusive access to a private outdoor area behind the building, providing a tranquil escape or additional space for employees. Benefitting from a highly desirable location off Military Highway, this business center enjoys exceptional visibility and convenient access to Norfolk International Airport, IKEA, and the nearby outlet mall. Ample parking is available with over 50 spaces. Common area maintenance (CAM) fees encompass electricity, water, sewer, trash removal, and grounds maintenance, simplifying operational costs. This property's versatility, prime location, and extensive amenities make it an attractive prospect for discerning investors and businesses seeking a well-established and easily adaptable commercial space.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1979
Total area 5,183 SF
Lot 0.74 ac (32,400 SF)
Zoning code C-2
APN 41508400
UPID US87-3381114

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
  • Home Health Care Service
  • Church
  • Tattoo & Piercing Shop
  • Freight Service Logistics Company
  • Employment Agency

Location

5353 Princess Anne Rd Norfolk, VA 23502-1861
Norfolk metro Census 6200 VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$875k
CAP Approach CAP
by Request
Comparable Approach Comparable
$612k
Blend (final) Blend
$905k

Owner & transaction history

since 2020
Last sale
$725,000
2 recorded transactions
2020
$725,000
2020
Price N/A

Zoning & alternative use

C-2 · Norfolk, VA

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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