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1120 E Brambleton Ave 51,215 SF Industrial Building Norfolk, VA 23504 $3,500,000 ($68.34/SF)
Investment Highlights
- Located within an Opportunity Zone, offering significant tax advantages for qualified investors.
- Positioned between Norfolk Scope, Norfolk State University, and MacArthur Center, providing visibility and regional connectivity.
- Situated on a 2.31-acre parcel, allowing yard space and site flexibility for various industrial uses.
- Dynamic Towing Manufacturing Facility
- Immediate upside due to below-market rents, enabling value-add potential.
- Close to Port of Virginia, highways, and downtown Norfolk amenities that support strong tenant demand.
Executive Summary
This warehouse property at 1120 E. Brambleton Avenue presents an outstanding investment or owner user opportunity within an established commercial hub and a federally designated Opportunity Zone in Norfolk, Virginia. The asset is strategically positioned between Norfolk Scope Arena, Norfolk State University, and the MacArthur Center, placing it in close proximity to downtown amenities and key transportation corridors. Its central location supports a diverse range of potential uses, including distribution, light manufacturing, or adaptive reuse projects.
The property currently benefits from rental rates below market, creating immediate upside potential through repositioning or redevelopment strategies. With convenient access to major roadways, the Port of Virginia, and regional interstates, the site offers connectivity crucial for logistics and urban service operators. The surrounding neighborhood continues to experience growth and revitalization, which enhances the long-term value proposition for investors seeking income generation and appreciation.
The property currently benefits from rental rates below market, creating immediate upside potential through repositioning or redevelopment strategies. With convenient access to major roadways, the Port of Virginia, and regional interstates, the site offers connectivity crucial for logistics and urban service operators. The surrounding neighborhood continues to experience growth and revitalization, which enhances the long-term value proposition for investors seeking income generation and appreciation.
Property Facts
| Price | $3,500,000 | Rentable Building Area | 51,215 SF |
| Price Per SF | $68.34 | No. Stories | 1 |
| Sale Type | Investment or Owner User | Year Built | 1960 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Manufacturing | No. Drive In / Grade-Level Doors | 6 |
| Building Class | B | Opportunity Zone |
Yes
|
| Lot Size | 2.31 AC | ||
| Zoning | I-L | ||
| Price | $3,500,000 |
| Price Per SF | $68.34 |
| Sale Type | Investment or Owner User |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | B |
| Lot Size | 2.31 AC |
| Rentable Building Area | 51,215 SF |
| No. Stories | 1 |
| Year Built | 1960 |
| Tenancy | Single |
| No. Drive In / Grade-Level Doors | 6 |
| Opportunity Zone |
Yes |
| Zoning | I-L |
Amenities
- Fenced Lot
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
50/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 14301805 | Improvements Assessment | $710,900 |
| Land Assessment | $694,800 | Total Assessment | $1,405,700 |
Property Taxes
Parcel Number
14301805
Land Assessment
$694,800
Improvements Assessment
$710,900
Total Assessment
$1,405,700
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1120 E Brambleton Ave