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1025 N Newtown Rd
Norfolk, VA 23502
Office Property For Sale
Investment Highlights
- 3,775 SF with drive-thru
- Dense population with 295,102 people within five miles
- Suitable for bank, day care, or QSR
- 19,144 VPD
Executive Summary
Strategically positioned minutes from Interstate 264/64 interchange. Former Bank branch with a drive-thru and leased to an established day care through May 2029. The site is ideally located just off Virginia Beach Boulevard at Newtown Road next to CVS. The property comprises 3,775 square foot building with a drive-thru. and situated on
0.81 acres.
The day care lease generates $58,832 in annual rent on a NNN lease ($15.58 PSF NN + $3.70 PSF). The site provides excellent visibility in a densely populated area at the border of Virginia Beach and Norfolk. Originally designed as a bank, the building is currently occupied by an established day care operator providing consistent income.
0.81 acres.
The day care lease generates $58,832 in annual rent on a NNN lease ($15.58 PSF NN + $3.70 PSF). The site provides excellent visibility in a densely populated area at the border of Virginia Beach and Norfolk. Originally designed as a bank, the building is currently occupied by an established day care operator providing consistent income.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
3,775 SF
Building Class
C
Year Built
1964
Price
$985,000
Price Per SF
$260.93
Tenancy
Single
Building Height
1 Story
Typical Floor Size
3,775 SF
Building FAR
0.13
Lot Size
0.67 AC
Opportunity Zone
Yes
Zoning
C-2
Parking
12 Spaces
Amenities
- Air Conditioning
Property Taxes
| Parcel Number | 14356100 | Improvements Assessment | $386,900 |
| Land Assessment | $290,000 | Total Assessment | $676,900 |
Property Taxes
Parcel Number
14356100
Land Assessment
$290,000
Improvements Assessment
$386,900
Total Assessment
$676,900
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