251 Granby StNorfolk, VA 23510

Property Details for 251 Granby St

Year built

1902

Lot size

0.07 AC

Property size (Sq ft)

10,440 SF

Zone code

D-3

Property type

Office buildings

APN

38036600

APU

38036600

Description

This exceptional Class A office building, constructed in 1902 and boasting 11,000 square feet, offers a prime location in the heart of Downtown Norfolk. Currently featuring four suites, two are immediately available, totaling 2,782 square feet. The building's recent renovations include a completely updated lobby and common areas, creating a sophisticated and modern atmosphere perfect for discerning tenants. The property's zoning is D-MU (Downtown - Mixed Use), allowing for a variety of business uses. Its prominent position on Granby Street ensures excellent visibility and accessibility, while its proximity to numerous restaurants adds convenience. Tenants enjoy easy access to major highways and benefit from individual key-coded security access for enhanced safety and peace of mind. The building's architectural heritage blends seamlessly with contemporary upgrades, providing a unique and desirable workspace. This is an unparalleled opportunity to secure prestigious office space in a thriving downtown location. The building's multiple suite configuration offers flexibility for businesses of various sizes, from small executive offices to larger traditional office setups, even catering to creative office needs. The building's A-class designation reflects its high-quality construction, modern amenities, and prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,204,584

  6.5%

  $2,035,001

  7%

  $1,889,644

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,337,711

  Geo Method

  $1,743,584

• Alternative Use

  Use

  Valuation

  Residential

  $2,523,401

  Hospitality

  $2,311,422

  Educational

  $1,923,076

  Medical

  $1,989,213

  Retail

  $2,991,451

Location Insight

City

Norfolk

County

Norfolk City

State

Virginia

Latitude

36.8495

Longitude

-76.291

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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