735 Granby StNorfolk, VA 23510

Property Details for 735 Granby St

Year built

1917

Lot size

0.07 AC

Property size (Sq ft)

6,200 SF

Zone code

D-4

Property type

Investment properties

Property subtype

Live-work space

APN

14493900

APU

14493900

Description

This exceptional 6,200 square foot storefront property, located at 735 Granby Street in the heart of downtown Norfolk, Virginia, presents a compelling investment opportunity. The two-story brick building offers a substantial amount of retail space, perfect for a variety of businesses. With a total square footage of 6,200 square feet, all of which is net rentable, this property boasts ample room for operations and potential expansion. The asking price is $800,000, translating to a price per square foot of $129.03. Situated in Norfolk's vibrant Arts and Design district, this location offers high visibility and foot traffic, making it an ideal spot for a thriving business. The property's solid brick construction ensures durability and longevity, representing a sound investment for the future. The address is 735 Granby Street, Norfolk, VA 23510. This prime location offers excellent access to major transportation routes and is surrounded by a thriving community. The property's size and location make it an attractive option for businesses seeking a prominent presence in a dynamic urban setting. This is a rare opportunity to acquire a substantial retail space in a highly desirable area. Don't miss out on this chance to own a piece of Norfolk's vibrant downtown.

• CAP approach

  CAP return

  Valuation

  6%

  $1,309,236

  6.5%

  $1,208,525

  7%

  $1,122,202

• Comparable approach

  Method

  Valuation

  Relative Method

  $794,426

  Geo Method

  $1,035,462

• Alternative Use

  Use

  Valuation

  Residential

  $1,498,571

  Hospitality

  $1,372,683

  Educational

  $1,142,056

  Medical

  $1,181,334

  Retail

  $1,776,532

Location Insight

City

Norfolk

County

Norfolk City

State

Virginia

Latitude

36.8554

Longitude

-76.2888

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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