Retail Business for Sale in Norfolk, VA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Norfolk, VA 23503
  • Size: 7,020 SF

Description

Retail | Building Size: 7,020 SF | Land Area: 0.96 ac

Market Context

This retail in Norfolk, VA is listed for sale across 7,020 SF. It has been on the market for 127 days. Compare it against other retail listings for sale in Norfolk, VA — <a href="/search/sale/retail/virginia/norfolk">view the full market</a>.

As of Q4 2023, the Hampton Roads retail market showed a 3.6% vacancy rate, average asking rents near $22.50/SF/yr, and cap rates around 6.6%. Source: Consensus Q4 2023 market report.

Tight vacancy keeps competition for quality space elevated.

Retail market FAQ

What is the typical cap rate for retail in Hampton Roads?
About 6.6% as of Q4 2023, per Consensus.
Is the Hampton Roads retail market tightening or softening?
Vacancy is around 3.6% (Q4 2023).

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