For Sale
$1,500,000

2601 Colley AveNorfolk, VA 23517

7,720 SF Flex Space, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional Class A industrial property, located at 2601 Colley Ave, Norfolk, VA 23517, offers 7,720 square feet of versatile flex space, ideally suited for a variety of businesses. The building, constructed in 2009, features a desirable blend of office and warehouse space, with 3,120 square feet dedicated to office areas (40%) and 4,600 square feet to warehouse space (60%). The warehouse boasts a 22-foot clear ceiling height and a convenient overhead door. Ample parking is provided with 22 spaces. The property sits on a 24,995 square foot lot and is zoned IL. Currently available for sale at $1,500,000, representing a compelling 6.80% cap rate with a Net Operating Income (NOI) of $102,000. The sale is a fee simple ownership with a NNN lease type and single tenancy. The property enjoys excellent visibility on Colley Avenue, north of Ghent, and benefits from its proximity to Downtown Norfolk, major transportation hubs including Norfolk International Airport, Naval Bases, and Shipyards, as well as Old Dominion University. The location also offers advantages within designated Enterprise Zone, Technology Zone, Opportunity Zone, and HUB Zone designations. The property is available for occupancy on August 1, 2024. A potential sale-leaseback option may be available for owner-users. This prime location and strong financial performance make this an attractive investment opportunity.

Highlights

  • 7,720 SF flex space (3,120 SF office, 4,600 SF warehouse) in Norfolk, VA.
  • Excellent location on Colley Ave, near Downtown Norfolk, major transportation hubs, and Old Dominion University.
  • Strong investment opportunity: $1,500,000 asking price, 6.80% cap rate, $102,000 NOI.
  • Located in multiple designated zones: Enterprise Zone, Technology Zone, Opportunity Zone, and HUB Zone.
  • Proximity to Norfolk International Terminals, Portsmouth Marine Terminal, and Norfolk Naval Shipyard.

Property Details for 2601 Colley Ave

Property type
Warehouses, Industrial properties
Square Feet
7,720 SF
Class
A
Year Built
2009
Buildings
1
Stories
2

Location Insight

City
Norfolk
County
Norfolk City
State
Virginia
Latitude
36.875081641947
Longitude
-76.295117868353
2601 Colley Ave, Norfolk, Virginia

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2601 Colley Ave
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