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7851 Azalea Garden Rd 2 Flex Properties Offered at $5,441,280 CAD in Norfolk, VA
INVESTMENT HIGHLIGHTS
- Prime location with excellent visibility along Azalea Garden Road and easy access to I-64.
- 13,100 SF available for owner-occupant or future tenant, including showroom and office space.
- Strong projected CAP rate of 11.11% with significant income growth potential.
- Two fully leased buildings with national and local tenants, providing stable income.
- Property features gated parking, monument signage, and new HVAC systems.
- Surrounded by major retailers, service businesses, and dense residential neighborhoods.
EXECUTIVE SUMMARY
This is a prime investment opportunity in Norfolk, Virginia, featuring a ±33,100 SF multi-building property on ±1.98 acres along Azalea Garden Road. The asset is strategically positioned near major thoroughfares, including I-64 and E. Little Creek Road, providing excellent regional connectivity and visibility. The property is zoned C-C (Community Commercial District), making it suitable for a variety of commercial uses.
The site includes three buildings, two of which are fully leased to established tenants, including a national brand, Sixt Rent-A-Car, ensuring stable income. Building A, totaling 13,100 SF, is available for an owner-occupant or future tenant, offering a mix of 6,100 SF showroom space and 7,000 SF of new office area. The property features two access points, fenced and gated parking, monument signage, and all new HVAC units. Ceiling heights range from 9 to 22 feet, and the property is equipped with single-phase power (600 amp / 240v).
With a current NOI of $253,900 and a projected NOI of $433,501, this property offers strong income potential and an attractive projected CAP rate of 11.11%. The asking price is $3,900,000 ($117.82 PSF), making this an exceptional opportunity for investors seeking a stabilized asset with upside in a growing market.
The site includes three buildings, two of which are fully leased to established tenants, including a national brand, Sixt Rent-A-Car, ensuring stable income. Building A, totaling 13,100 SF, is available for an owner-occupant or future tenant, offering a mix of 6,100 SF showroom space and 7,000 SF of new office area. The property features two access points, fenced and gated parking, monument signage, and all new HVAC units. Ceiling heights range from 9 to 22 feet, and the property is equipped with single-phase power (600 amp / 240v).
With a current NOI of $253,900 and a projected NOI of $433,501, this property offers strong income potential and an attractive projected CAP rate of 11.11%. The asking price is $3,900,000 ($117.82 PSF), making this an exceptional opportunity for investors seeking a stabilized asset with upside in a growing market.
PROPERTY FACTS
| Price | $5,441,280 CAD | Number of Properties | 2 |
| Price / SF | $144.71 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 6.51% | Total Building Size | 37,600 SF |
| Sale Type | Investment or Owner User | Total Land Area | 3.96 AC |
| Status | Active |
| Price | $5,441,280 CAD |
| Price / SF | $144.71 CAD / SF |
| Cap Rate | 6.51% |
| Sale Type | Investment or Owner User |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 37,600 SF |
| Total Land Area | 3.96 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
B
7851 Azalea Garden Rd, Norfolk, VA 23518 |
Flex | 21,000 SF | 1994 | - |
|
A
7851 Azalea Garden Rd, Norfolk, VA 23518 |
Flex | 16,600 SF | 1994 | - |
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7851 Azalea Garden Rd
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