- For Sale $1,579,000
- Property Type Office - General Office
- Property Size 12,478 SF
- Units 5
- Lot Size 1.11 Acre
- Property Tenancy Multi-Tenant
- Building Class B
- Year Built 1998
- Date Updated Jun 30, 2026
Description
Southwest Corner of Benjamin Ave and N 25th StreetIdeal for Owner-User: Future flexibility to occupy space while benefiting from in-place income during the hold period.
Lease Expiration Timeline (2028): All/major leases expiring by end of 2028 provide a clear, near-term opportunity to reset rents to market without long-term encumbrances.
Below-Market Rents In-Place: Existing tenants are paying lease rates significantly under current market levels, creating immediate upside potential for a new owner.
Growing Local Demand Drivers: Norfolk’s regional economic activity supports long-term office demand and rent growth potential.
Highlights
- Below-Market Rents In-Place: Existing tenants are paying lease rates significantly under current market levels, creating immediate upside potential for a new owner.
- Growing Local Demand Drivers: Norfolk’s regional economic activity supports long-term office demand and rent growth potential.
- Ideal for Owner-User: Future flexibility to occupy space while benefiting from in-place income during the hold period.
- Lease Expiration Timeline (2028): All/major leases expiring by end of 2028 provide a clear, near-term opportunity to reset rents to market without long-term encumbrances.
False
Contacts
Spencer Morrissey
NAI NP Dodge
Location
Contact Listing Broker
Spencer Morrissey
NAI NP Dodge