7851 Azalea Garden Rd Flex FOR SALE


Norfolk, VA
$3,900,000 USD
757-286-0629
, Norfolk, VA for Sale
$3,900,000 USD
Flex - FOR SALE
1/2
null | 6.51% Cap Rate

7851 Azalea Garden Rd
Norfolk, VA


HIGHLIGHTS

  • Prime location with excellent visibility along Azalea Garden Road and easy access to I-64.
  • Two fully leased buildings with national and local tenants, providing stable income.
  • 13,100 SF available for owner-occupant or future tenant, including showroom and office space.
  • Property features gated parking, monument signage, and new HVAC systems.
  • Strong projected CAP rate of 11.11% with significant income growth potential.
  • Surrounded by major retailers, service businesses, and dense residential neighborhoods.

OVERVIEW

This is a prime investment opportunity in Norfolk, Virginia, featuring a ±33,100 SF multi-building property on ±1.98 acres along Azalea Garden Road. The asset is strategically positioned near major thoroughfares, including I-64 and E. Little Creek Road, providing excellent regional connectivity and visibility. The property is zoned C-C (Community Commercial District), making it suitable for a variety of commercial uses. The site includes three buildings, two of which are fully leased to established tenants, including a national brand, Sixt Rent-A-Car, ensuring stable income. Building A, totaling 13,100 SF, is available for an owner-occupant or future tenant, offering a mix of 6,100 SF showroom space and 7,000 SF of new office area. The property features two access points, fenced and gated parking, monument signage, and all new HVAC units. Ceiling heights range from 9 to 22 feet, and the property is equipped with single-phase power (600 amp / 240v). With a current NOI of $253,900 and a projected NOI of $433,501, this property offers strong income potential and an attractive projected CAP rate of 11.11%. The asking price is $3,900,000 ($117.82 PSF), making this an exceptional opportunity for investors seeking a stabilized asset with upside in a growing market.

ASK ABOUT THIS PROPERTY

Janet WhitbeckCushman & Wakefield | ThalhimerMore Info
757-286-0629

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Janet WhitbeckCushman & Wakefield | ThalhimerMore Info
757-286-0629

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.