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Advance Auto Parts 7525 Tidewater Dr

11,620 SF Retail Building Norfolk, VA 23505 $3,895,208 CAD ($335 CAD/SF) 6% Cap Rate

Retail Buildings Virginia Norfolk 7525 Tidewater Dr, Norfolk, VA 23505

Investment Highlights

  • Desirable Lease term | New 10-year extension signed in 2023
  • Less than 10 minutes from the world’s largest naval base| Naval Station Norfolk | 82,000 active-duty personnel | 4,631 acres
  • Outparcel to Southern Shopping Center | 219,926 SF of prime retail space
  • Corporate Lease | Advance Stores Company, Inc. | 4,456+ locations across the U.S., Canada, Puerto Rico, and the US. Virgin Islands
  • Great visibility from Tidewater Drive | 30,000 VPD
  • Located inside of dense retail corridor | 3.1M SF within a 2-mile radius

Executive Summary

Ransome Foose and Carl Brendes of Berkeley Capital Advisors are pleased to present for sale Advance Auto Parts in Norfolk, VA. We welcome your review of this attractive investment.

Attachments

Advance Auto Parts OM - Norfolk, VA

Property Facts

Sale Type
Investment
Sale Condition
Build to Suit
Property Type
Retail
Property Subtype
Freestanding
Building Size
11,620 SF
Building Class
B
Year Built
1963
Price
$3,895,208 CAD
Price Per SF
$335 CAD
Cap Rate
6%
NOI
$233,729 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.27
Lot Size
1.00 AC
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Parking
55 Spaces (4.73 Spaces per 1,000 SF Leased)
Frontage
156 ft on Tidewater Dr

Amenities

  • Bus Line
  • Signage

Links

1 of 1
Walk Score ®
Very Walkable (79)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

Nearby Major Retailers

Fuddruckers
Ruby Tuesday
Applebee's
Planet Fitness
Food Lion
Dollar Bank
Navy Federal Credit Union
America's Best Wings
Rent-A-Center
Cook Out

PROPERTY TAXES

Parcel Number 07363905 Improvements Assessment $8,847,369 CAD
Land Assessment $23,515,597 CAD Total Assessment $32,362,966 CAD

PROPERTY TAXES

Parcel Number
07363905
Land Assessment
$23,515,597 CAD
Improvements Assessment
$8,847,369 CAD
Total Assessment
$32,362,966 CAD
(704) 379-1985

Contacts

  • Listing ID: 32057946

  • Date on Market: 2024-06-07

  • Last Updated:

  • Address: 7525 Tidewater Dr, Norfolk, VA 23505

The Retail Property at 7525 Tidewater Dr, Norfolk, VA 23505 is currently available for sale. Contact Berkeley Capital Advisors for more information.

Retail PROPERTIES IN NEARBY NEIGHBORHOODS

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Advance Auto Parts | 7525 Tidewater Dr
(704) 379-1985 x

Advance Auto Parts | 7525 Tidewater Dr

1/3

Ransome Foose

(704) 379-1985

(704) 379-1985

Carl Brendes

(704) 714-2363

(704) 714-2363

Jake Zapata

(210) 587-5388

(210) 587-5388

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