735 Newtown Road, Norfolk, VA for sale

Investment Overview

Located in the City of Norfolk, 735 Newtown Road is a 6,734± square foot, two-story office building that fronts the highly-trafficked Newtown Road, and is situated in the Newtown/Witchduck submarket. The 3,367± square foot first-floor tenant will vacate upon sale; the second floor is comprised of four suites, with one currently vacant and the remaining three with short-term leases in-place.

Investment Highlights

• Central location on city line of Norfolk/Virginia Beach
• 3,367± square feet available on the first floor (entire first floor)
• Four (4) suites on the second floor: three (3) suites under short-term leases (lease income in-place) and one (1) 650± suite currently available
• Two (2) electric meters on the first floor; four (4) electric meters on the second floor
• Major building renovation in 2010
• On-site parking to city code (27 parking stalls)
• 99 linear feet of road frontage/signage opportunity
• Located in an Opportunity Zone, which may provide for preferential tax treatment