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7849 Azalea Garden Rd
Norfolk, VA 23518
Office Property For Sale
Investment Highlights
- Freestanding and fully occupied
- Stable cashflow, left-in left-out ingress/egress, ample parking
- Brick building on Azalea Garden Road near signalized intersection of E. Little Creek Road, Norfolk International Airport and I-64
Executive Summary
Offered at an 11.5% Cap Rate with strong in-place cash flow. Fully occupied multi-tenant retail/office investment generating immediate income. $57,219 NOI supported by stable tenancy and consistent revenue. Strategic location near Norfolk International Airport, I-64, and E. Little Creek Road. Flexible opportunity for investors, owner-users, or 1031 exchange buyers.
Property Facts
Sale Type
Investment or Owner User
Property Type
Building Size
2,700 SF
Building Class
C
Year Built
1944
Price
$497,000
Price Per SF
$184.07
Cap Rate
11.51%
NOI
$57,219
Tenancy
Single
Building Height
1 Story
Typical Floor Size
2,700 SF
Building FAR
0.33
Lot Size
0.19 AC
Zoning
41
Parking
17 Spaces (6.3 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 46691000 | Improvements Assessment | $225,900 |
| Land Assessment | $73,200 | Total Assessment | $299,100 |
Property Taxes
Parcel Number
46691000
Land Assessment
$73,200
Improvements Assessment
$225,900
Total Assessment
$299,100
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