Listed by Atlantic Sotheby's International Realty
$1,400,000
Fully Leased NNN - Downtown Norfolk Investment | 9%+ Cap
Details
Property Type Retail
Sub Type Bar, Restaurant
Square Footage 6,400
Units 1
Cap Rate 9.14%
NOI $128,000
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 5
Remaining Term 5
Rent Bumps Yes
Lease Options yes
Year Built 1905
Stories 2
Zoning D3
Investment Type Stabilized
Lease Commencement 01/20/2026
Occupancy Date 01/01/2026
Ground Lease No
Fully Leased NNN - Downtown Norfolk Investment Opportunity w/ Strong ROI
Marketing description
Stabilized, turnkey investment in a proven location. Prime investment opportunity in downtown Norfolk's historic district with a long-term tenant already in place. This offering includes the commercial portion of the condominium encompassing the first two floors of the Historic Portlock Building, featuring a spacious two-story restaurant and bar with an additional mezzanine level. One of the largest restaurant footprints in the area, complete with an extensive tap system, the property is well-positioned for sustained tenant success. Investors benefit from immediate income with future upside potential through rent growth and continued demand in this high-traffic, centrally located corridor.
Listing Contacts
Listed by Atlantic Sotheby's International Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$128,000.00
$10,666.67/mo
Valuation Metrics
0
DSCR
9.14%
Cap Rate
9.14%
ROI
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