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850 Norview Ave Norfolk, VA 23513

Showrooms Google Maps
3,200 SF 3.41 ac lot Built 1950
Entity Owned 6-yr Hold ~ Est. High Equity
850 Norview Ave, Norfolk, VA 23513 For Sale
Contact for pricing 3,200 SF
850 Norview Ave, Norfolk, VA 23513
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Estimated value (blended)
$810k
Range $729k – $891k (±10%)
Property ID US87-3353542

Property summary

AI-generated overview

This exceptional Norfolk, Virginia property offers a unique investment opportunity encompassing a 2,000 square foot building and accompanying land. Situated at 850 Norview Ave, Norfolk, VA 23513, this versatile property is classified as industrial, with flex and warehouse subtypes, making it suitable for a variety of uses. The building itself provides 2,000 square feet of usable space, ideal for businesses requiring both office and storage capabilities. The inclusion of land presents significant potential for expansion or future development. The property's location in Norfolk County, Virginia offers convenient access to major transportation routes and a thriving business community. This combination of building and land provides a rare opportunity to acquire a well-positioned property in a desirable area. The property's versatility and potential for growth make it an attractive investment for both established businesses and entrepreneurs seeking a strategic location to expand their operations. The precise details of zoning and permitted uses should be verified independently. This property is being offered for sale and presents a compelling opportunity for those seeking a flexible and strategically located industrial space. The latitude and longitude coordinates are 36.891183, -76.254263.

Property profile

Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 1950
Total area 3,200 SF
Lot 3.41 ac (148,670 SF)
Zoning code I-1
APN 16523200
UPID US87-3353542

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$775k
CAP Approach CAP
$520k
Comparable Approach Comparable
$509k
Blend (final) Blend
$810k

Owner & transaction history

since 2020
Last sale
$650,000
2 recorded transactions
2020
$650,000
2005
Price N/A

Zoning & alternative use

I-1 · Norfolk, VA
Top alternative use upside
Office building $630,000 +69.8%
Auto repair, garage $620,000 +66.7%
Retail stores $525,000 +42.0%

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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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