861 Glenrock RdNorfolk, VA 23502

Property Details for 861 Glenrock Rd

Year built

1973

Lot size

2.23 AC

Property size (Sq ft)

47,138 SF

Zone code

C-3

Property type

Office buildings

APN

13279505

APU

13279505

Description

Circle East, located at 861 Glenrock Rd, Norfolk, VA 23502, offers 43,500 square feet of versatile office space in a prime Hampton Roads location. This Class C building, constructed in 1973 and renovated in 2000, features a two-story structure with ample parking (220 spaces) and elevator access. The property is zoned C-R and situated in the Central Norfolk submarket cluster, offering convenient access to major thoroughfares including I-264 and I-64. Its strategic location provides close proximity to Sentara Leigh Hospital and the Brock Center. The building currently has 13,500 square feet of vacant space available, divisible into units ranging from 3,000 to 13,500 contiguous square feet, making it suitable for a variety of tenants. The property accommodates multiple tenants and is categorized as Traditional, Creative, and Medical Office space. This presents a unique opportunity for businesses seeking flexible and well-located office solutions in a thriving area. The building consists of two suites in total. Interested parties should inquire about lease terms and availability.

• CAP approach

  CAP return

  Valuation

  6%

  $9,953,993

  6.5%

  $9,188,301

  7%

  $8,531,994

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,039,946

  Geo Method

  $7,872,518

• Alternative Use

  Use

  Valuation

  Residential

  $11,393,493

  Hospitality

  $10,436,379

  Educational

  $8,682,945

  Medical

  $8,981,564

  Retail

  $13,506,803

Location Insight

City

Norfolk

County

Norfolk City

State

Virginia

Latitude

36.8519

Longitude

-76.2016

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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