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735 Newtown Rd
Norfolk, VA 23502
Office Property For Sale
Investment Highlights
- Central location on city line of Norfolk/Virginia Beach
- 4 suites on the second floor: 3 under short-term leases (lease income in-place) and 1 650± square foot suite currently available
- Major building renovation in 2010
- 3,367± square feet available on the first floor (entire first floor)
- Two (2) electric meters on the first floor; four (4) electric meters on the second floor
- On-site parking to city code (27 parking stalls)
Executive Summary
Located in the City of Norfolk, 735 Newtown Road is a 6,734± square foot, two-story office building that fronts the highly-trafficked Newtown Road, and is situated in the Newtown/Witchduck submarket. The 3,367± square foot first-floor tenant will vacate upon sale; the second floor is comprised of four suites, with one currently vacant and the remaining three with short-term leases in-place.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
6,734 SF
Building Class
C
Year Built/Renovated
1982/2010
Price
$1,250,000
Price Per SF
$185.63
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
3,367 SF
Slab To Slab
10’
Building FAR
0.38
Lot Size
0.41 AC
Opportunity Zone
Yes
Zoning
C-C - Community Commercial
Parking
27 Spaces (4.01 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
Property Taxes
| Parcel Number | 19713270 | Improvements Assessment | $472,400 |
| Land Assessment | $178,400 | Total Assessment | $650,800 |
Property Taxes
Parcel Number
19713270
Land Assessment
$178,400
Improvements Assessment
$472,400
Total Assessment
$650,800
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