440 Monticello AveNorfolk, VA 23510

Property Details for 440 Monticello Ave

Year built

2010

Lot size

0.44 AC

Property size (Sq ft)

24,710 SF

Property type

Office properties

Property subtype

Office buildings

APN

10911002

APU

10911002

Description

The Wells Fargo Center, a prestigious Class A office building in downtown Norfolk, Virginia, offers a unique opportunity for businesses seeking prime office space. This 22-story tower, constructed in 2010 and boasting LEED Gold certification, provides 255,000 square feet of total space, with 70,317 square feet currently vacant and available for lease. The building is situated on a five-acre block in the heart of the city, at the intersection of Monticello Avenue and Charlotte Street, within the D-MU (Downtown - Mixed Use) zoning district. Multiple tenancy options are available, ranging from a minimum of 1,398 square feet to a maximum contiguous space of 24,500 square feet, catering to a variety of business needs. The building features ample parking with 1,859 spaces distributed across two convenient garages, ensuring easy access for employees and clients. High-speed elevators efficiently service all floors. The property's address is 440 Monticello Ave, Norfolk, VA 23510, and its location within the Downtown Norfolk submarket provides excellent access to amenities, transportation, and a vibrant urban environment. The APN is 1437071138, and the building is categorized as both Executive and Medical Office space.

• CAP approach

  CAP return

  Valuation

  6%

  $5,217,938

  6.5%

  $4,816,558

  7%

  $4,472,518

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,166,173

  Geo Method

  $4,126,817

• Alternative Use

  Use

  Valuation

  Residential

  $5,972,532

  Hospitality

  $5,470,808

  Educational

  $4,551,648

  Medical

  $4,708,186

  Retail

  $7,080,340

Location Insight

City

Norfolk

County

Norfolk City

State

Virginia

Latitude

36.8518

Longitude

-76.2878

CBSA code

47260

CBSA name

VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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