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    FOR SALE
    Showrooms

    850 Norview Ave, Norfolk, VA 23513

    3,200 SF 3.41 ac lot Built 1950
    Entity Owned 6-yr Hold ~ Est. High Equity
    Property ID
    US87-3353542
    850 Norview Ave, Norfolk, VA 23513 For Sale
    $625,000 3,200 SF
    850 Norview Ave, Norfolk, VA 23513
    View Listing →
    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
    Implied cap rate, NOI & suggested price
    Cap 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
    $625k
    Owner & transaction history
    Jsre LLC · 6 yrs held
    Jsre LLC
    since 2020
    Last sale
    $650,000
    2 recorded transactions
    2020
    $650,000
    2005
    Zoning & alternative use
    I-1 · Norfolk, VA
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Office building $630,000 +69.8%
    Auto repair, garage $620,000 +66.7%
    Retail stores $525,000 +42.0%
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    More about this property
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