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5121 E Virginia Beach Blvd
Norfolk, VA 23502 Poplar Halls

$200,000 USD

Light Distribution Condo For Sale  •  1,500 SF

Property Details

  • Property Type Light Distribution
  • Total Building Size 15,057 SF
  • Lot Size 1.04 AC
  • Building Class A
  • Year Built 1986
  • Cap Rate 11.40 %
  • Tenancy Single
  • Zoning C-2
42 Transit Score
40 Walk Score

1 Unit Available

Name Condo Use Size Price Details
1st Floor - Unit A1 Office 1,500 SF $200,000 USD
  • Unit Size: 1,500 SF
  • Condo Use: Office
  • Price: $200,000 USD
  • Sale Type: Investment
  • Price/SF: $133.33 USD
Description
Beautifully laid out and renovated small business office that is currently being occupied by a  Hair Salon. Plenty of parking! Airport and downtown are less than 15 minutes drive.

Sale Notes
Tenant pays the utilities, janitorial, communications and technology cost.
Taxes, Insurance, & Association Dues are approximately $4600 Annually paid by owner.
Call 757-524-4941 to schedule property visit.

Description 

To schedule property visit call 757-524-4941

Highlights

Beautifully laid out and renovated small business office
Plenty of parking!
Airport and downtown are less than 15 minutes drive.
Current tenant on 3 Year Lease until 9/2028; Lease rate is 1900 per month with 3% annual escalations.

Property Flyers

Financial Summary

Cap Rate: 11.40 %
Total Expenses: $0 USD

Major Tenants

Tenant SF Occupied Lease End Date
Solstace Salons 1,500 SF 9/1/2028

Amenities

  • 24 Hour Access
  • Security System
  • Signage
  • Reception
  • Storage Space
  • Monument Signage
  • Air Conditioning

Public Transportation

Commuter RailDriveWalkDistance
7 min - 3.2 mi
AirportDriveWalkDistance
Norfolk International 10 min - 4.4 mi
Newport News/Williamsburg International 45 min - 29.0 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 29
Type: Surface
Included in Rent: Yes
Kenneth Royster 757-465-5613 Jovanne LLC
Kenneth Royster 757-465-5613 Jovanne LLC