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9650 Shore Dr
Norfolk, VA 23518
Retail Property For Sale
Investment Highlights
- Fully occupied 8,463 SF mixed-use investment property available for sale located in Norfolk, Virginia's desirable East Beach neighborhood
- Three second-floor luxury apartments with views of the Chesapeake Bay, surrounded by commercial attractions
- Eight minutes to Norfolk International Airport, 10 minutes to Joint Expeditionary Base Little Creek-Fort Story, and 18 minutes to Naval Station Norfol
- Long term lease with sponsor-backed veterinary clinic, the nation's largest vet-founded, vet-led, and majority vet-owned practice
- Excellent visibility along Shore Drive at the intersection of Norfolk and Virginia Beach
Executive Summary
Located in the desirable East Beach neighborhood, 9650 Shore Drive is a fully occupied, 8,463 SF two story mixed use asset featuring a long term corporate tenant on the ground floor (4,522 SF) and three luxury apartments on the second floor (2,940 SF). Built in 2018, the property is situated at the border of Norfolk and Virginia Beach and surrounded by numerous commercial attractions. With excellent visibility along a major thoroughfare, the property is conveniently located just eight minutes to Norfolk International Airport, 10 minutes to Joint Expeditionary Base Little Creek-Fort Story, and 18 minutes to Naval Station Norfolk and Norfolk International Terminals.
Property Facts Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
8,463 SF
Building Class
B
Year Built
2018
Price
$3,542,291 CAD
Price Per SF
$418.56 CAD
Cap Rate
7.12%
NOI
$252,076 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.08
Lot Size
0.18 AC
Opportunity Zone
Yes
Parking
11 Spaces (1.3 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pool
- Security System
- Air Conditioning
- Balcony
Property Taxes
| Parcel Number | 50001702 | Improvements Assessment | $4,587,062 CAD |
| Land Assessment | $225,120 CAD | Total Assessment | $4,812,182 CAD |
Property Taxes
Parcel Number
50001702
Land Assessment
$225,120 CAD
Improvements Assessment
$4,587,062 CAD
Total Assessment
$4,812,182 CAD
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