2601 Colley AveNorfolk, VA 23517

Property Details for 2601 Colley Ave

Year built

2009

Lot size

0.57 AC

Property size (Sq ft)

7,720 SF

Zone code

I-1

Property type

Industrial properties

Property subtype

Other warehouses

APN

911659

APU

911659

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $1,865,963

  Hospitality

  $1,709,212

  Educational

  $1,422,044

  Medical

  $1,470,951

  Retail

  $2,212,069

Location Insight

City

Norfolk

County

Norfolk City

State

Virginia

Latitude

36.8749

Longitude

-76.2955

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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