Financial
Distress signals
Property profile

735 Newtown Rd Norfolk, VA 23502

FOR SALE
Office buildings
Property ID
US87-3388628
6,734 SF 0.41 ac lot Built 1982
Entity Owned Owner of record is a legal entity (LLC / corporation). Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

The property at 735 Newtown Road in the City of Norfolk is a two-story office building totaling 6,734 square feet in the Newtown/Witchduck submarket, with frontage on Newtown Road. It has 99 linear feet of road frontage for signage and includes on-site parking with 27 parking stalls. The first floor contains 3,367 square feet and is separately metered with two electric meters; the second floor contains four office suites totaling the remaining area and is served by four electric meters. The

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2024

What does the county charge?
$8k
Tax billed · 2024
Assessed value$651k
Assessed land$178k
Assessed improvement$472k
Effective rate1.25%

Value estimate

· Sep 2026
$330k
$297k – $363k
Submarket $/SF estimate$1.17M
NOI build-up
Gross scheduled income$135k
Vacancy & credit loss−$11k
Operating expenses−$31k
NOI · 7.45% cap applied$93k

Realmo valuation models over county records and 5 qualifying comparable sales.

Recently sold

What actually traded nearby?
$197/SF
Submarket average, outlier-cleaned · 57 recorded sales of this use type
Observed band · Q1–Q3$118 – $273
Qualifying comparables5

Cap rate analysis

How does the asset earn?
7.45%
$93k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
C-2
JurisdictionNORFOLK CITY

Location intelligence

Which uses thrive at this corner?
Best fit: Electrical Service
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Electrical Service9.7
Laundry Service9.6
Locksmith9.1

Location

735 Newtown Rd Norfolk, VA 23502
County assessor Recorded deeds · not on file 5 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 16 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
6387 Ctr, Norfolk, VA 23502-4109 $1,900,000 Feb 2026 14,279 SF
952 Norfolk, Norfolk, VA 23502-3212 $550,000 Jun 2024 5,000 SF
814 Kempsville, Norfolk, VA 23502-4001 $16,500,000 Dec 2023 13,538 SF
5307 Virginia Bch, Norfolk, VA 23502-3417 $1,043,000 May 2023 9,651 SF
5129 Stanart, Norfolk, VA 23502-3406 $390,000 Jan 2023 3,199 SF
6379 Ctr, Norfolk, VA 23502-4102 $1,200,000 Mar 2020 9,713 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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