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Property profile & analytics
FOR LEASE
Office buildings

5900 E Virginia Beach Blvd Norfolk, VA 23502

48,246 SF 0.29 ac lot Built 1967
Entity Owned Absentee Owner Free & Clear
Property ID
US87-3349309
Property summary
AI-generated overview

Janaf Shopping Yard presents a prime retail investment opportunity in Norfolk County. This expansive center, boasting a total of 891,281 square feet, offers 13 available spaces ranging from 855 to 8,946 square feet, perfect for a variety of uses including retail, restaurants, salons, dental practices, physical therapy, beauty services, financial institutions, and communications businesses. The property sits on 92 acres of land and provides ample parking with 4170 spaces. Its strategic location at the intersection of Virginia Beach Boulevard and Military Highway ensures high visibility and accessibility, further enhanced by its proximity to I-64 and I-264 interstates. Currently, the center has 33,328 square feet of vacant space. Janaf Shopping Yard is a well-established center attracting a diverse clientele, evidenced by an impressive average of 4.72 visits per person. This high-traffic location, coupled with the available space, presents a unique opportunity for businesses seeking strong visibility and a loyal customer base. The property's size and established tenant mix make it an attractive investment for both established businesses and new ventures. The substantial parking capacity ensures convenient access for customers and employees. This is a rare opportunity to secure space in one of the largest centers in its portfolio.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING (MULTI-STORY)
Year built 1967
Total area 48,246 SF
Lot 0.29 ac (12,802 SF)
Zoning code C-3
APN 44729707
UPID US87-3349309
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
  • UNO Pizzeria & Grill Restaurant
  • Alliance Physical Therapy Medical Clinic
  • Mirman Law Firm, P.L.L.C., Steven A. Mirman, Attorney Law Firm
  • janaf Corporate Office Coworking & Hybrid Office
  • Riley Counseling and Consulting, PLC Counselor Social Worker
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$5.68M
Blend (final) Blend
$4.87M
Owner & transaction history
JANAF ASSOCIATES,
JANAF ASSOCIATES,
Zoning & alternative use
C-3 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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