2706 Colley AveNorfolk, VA 23517

Property Details for 2706 Colley Ave

Year built

1938

Lot size

0.64 AC

Property size (Sq ft)

3,627 SF

Zone code

C-2

Property type

Retail properties

Property subtype

Retail space

APN

44491705

APU

44491705

Description

Park Place Shops, located at 2706 Colley Ave in Norfolk, Virginia (zip code 23517), offers prime retail space in a vibrant commercial area. This multi-tenant property boasts a total of 5,250 square feet, with flexible lease options available. Currently, 8,585 square feet are vacant, offering significant opportunities for businesses seeking immediate occupancy. Units range from a minimum of 1,325 square feet to a maximum contiguous space of 5,250 square feet, catering to a variety of business needs and sizes. The property is zoned C-C, ensuring compatibility with a wide range of retail uses. Ample parking is provided with 36 spaces available for tenants and customers. This location in Norfolk County offers excellent visibility and accessibility, making it an ideal choice for businesses looking to establish or expand their presence in a thriving market. The property's convenient location and flexible space options make it a highly attractive investment opportunity. Interested parties should inquire about available units and lease terms.

• CAP approach

  CAP return

  Valuation

  6%

  $1,125,877

  6.5%

  $1,039,271

  7%

  $965,038

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,171,143

  Geo Method

  $1,526,478

• Alternative Use

  Use

  Valuation

  Residential

  $876,664

  Hospitality

  $803,020

  Educational

  $668,103

  Medical

  $691,080

  Retail

  $1,039,271

Location Insight

City

Norfolk

County

Norfolk City

State

Virginia

Latitude

36.8754

Longitude

-76.2945

CBSA code

47260

CBSA name

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

Property Tax & Assessments

FAQs

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