5121 E Virginia Beach Blvd - Light Distribution CONDO FOR SALE


Norfolk, VA 23502- Poplar Halls
$225,000 USD
757-735-1024
5121 E Virginia Beach Blvd, Norfolk, VA for Sale
$225,000 USD
Light Distribution CONDO - FOR SALE
1/7
null | 11.84% Cap Rate

5121 E Virginia Beach Blvd
Norfolk, VA 23502
Poplar Halls


HIGHLIGHTS

  • Currently occupied and operating as a music studio.
  • Current leaser desires a one-year lease following closing.
  • Located along heavily traveled E Virginia Beach Boulevard.
  • Convenient access to I-264, downtown Norfolk, and Virginia Beach.
  • Suitable for owner-users, creative businesses, and professional services.
  • Commercial condominium within an established business environment.

OVERVIEW

5121 E Virginia Beach Blvd presents an opportunity to acquire an owner-user or investment commercial condominium along one of Norfolk's primary commercial corridors. The property is currently operating as a music studio and offers a functional layout suitable for a variety of professional, creative, service-oriented, and small business users. The seller is seeking a transaction structure that includes a one-year leaseback arrangement, allowing the current tenant to remain in occupancy for approximately twelve months following closing. This provides immediate income potential while offering future flexibility for an owner-user's occupancy plans. Positioned along E Virginia Beach Boulevard, the property benefits from visibility on a heavily traveled arterial roadway connecting Norfolk's established business districts with Virginia Beach and the greater Hampton Roads region. The location offers convenient access to Interstate 264, Norfolk International Airport, military installations, downtown Norfolk, and major employment centers throughout the Southside market. Nearby commercial services, retail amenities, and residential neighborhoods support a diverse customer and workforce base. The property's condominium ownership structure provides a manageable investment profile while offering the benefits of a commercial location within an established business park environment. The existing music studio operation demonstrates the property's suitability for specialized creative and professional uses, while the planned leaseback period may provide buyers with a defined transition timeline and near-term income stream. This offering is well suited for investors seeking in-place occupancy or owner-users planning future business operations in a centrally located Hampton Roads location.

FOR SALE DETAILS

PRICE

$225,000 USD

PRICE/SF

$225 USD /SF

CAP RATE

11.84%

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Flex

PROPERTY SUBTYPE

Light Distribution

ADD'L SUBTYPES

undefined, Warehouse, Office/Residential

TOTAL BUILDING SIZE

15,057 SF

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

29

LAND DETAILS

LAND ACRES

1.04 AC

LAND SF

45,302 SF

ZONING

C-2

APN/PARCEL ID

05195700,05195702,05195704,05195706,05195708,05195709,05195710,05195712,05195714,05195716,05195718,05195720,05195722

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757-735-1024

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Lin LiaoLin LiaoMore Info
757-735-1024

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