4201 Pleasant AveNorfolk, VA 23518

Property Details for 4201 Pleasant Ave

Year built

2022

Lot size

0.22 AC

Property size (Sq ft)

11,108 SF

Property type

Investment properties

Property subtype

Live-work space

APN

51000047

APU

51000047

Description

East Beach Village Square offers exceptional retail and office opportunities in Norfolk, VA. This Class A mixed-use development, completed in 2023, boasts two buildings totaling 30,300 square feet. Currently, 2,243 square feet are available, divisible into units as small as 428 square feet, with a maximum contiguous space of 1,160 square feet. The property features three suites in total, ideal for a variety of businesses. Located at 4201 Pleasant Ave, 23518, this highly visible location enjoys excellent traffic counts along Shore Drive (over 30,000 vehicles per day) and benefits from its proximity to a major military base (Little Creek) and a large employer, serving over 25,000 personnel. The property is also conveniently situated within fifteen minutes of Downtown Norfolk and Virginia Beach Town Center, providing access to a substantial consumer base. This vibrant waterfront community includes condominiums, townhomes, and other retail establishments, creating a thriving atmosphere. The available spaces are ready for immediate occupancy. The strong demographics and strategic location make this an exceptional investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $2,345,644

  6.5%

  $2,165,210

  7%

  $2,010,552

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,423,304

  Geo Method

  $1,855,147

• Alternative Use

  Use

  Valuation

  Residential

  $2,684,860

  Hospitality

  $2,459,317

  Educational

  $2,046,123

  Medical

  $2,116,492

  Retail

  $3,182,858

Location Insight

City

Norfolk

County

Norfolk City

State

Virginia

Latitude

36.9281

Longitude

-76.1908

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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