941 Norfolk Sq Norfolk, VA 23502-3211
This exceptional 4,704 square foot building, situated on a fenced .44-acre lot in Norfolk, Virginia (zip code 23502), presents a unique investment opportunity. The property boasts a strategic location offering easy access to Interstates 264 and 64, ensuring seamless transportation and logistics. The building is zoned BC-I (Business & Commerce Park-Industrial), allowing for a variety of uses including business, research, light industrial, and manufacturing activities. The versatile layout includes 1,800 square feet of well-appointed office space, complete with a convenient kitchenette, perfect for administrative functions or executive suites. The remaining 2,904 square feet comprises a spacious shop area, ideal for storage, production, or workshop activities. Access to the shop area is facilitated by a 10' x 10' grade-level loading door, streamlining loading and unloading operations. This property's combination of office and warehouse space, coupled with its prime location and flexible zoning, makes it an attractive option for a wide range of businesses seeking a functional and strategically located facility. The asking price for this exceptional property is $825,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
BC-1 · Norfolk, VANorfolk. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.