757-478-9920
1 E Plume St, Norfolk, VA for Sale
Apartments - FOR SALE
1/7
null | Request Cap Rate

1 E Plume St
Norfolk, VA 23510
Downtown Norfolk


HIGHLIGHTS

  • Day 1 Cash Return
  • Attractive Assumable Debt
  • Recent Capex: Currently, ownership is investing $187,000 in the property by replacing the elevator system.
  • Long Term Commercial Tenant on First Floor

OVERVIEW

The CBRE Southern Virginia Multifamily Team is pleased to present an exclusive investment opportunity, The Albemarle at One East Plume, a 7-unit mixed-use property located in the heart of Norfolk, Virginia. ???????This historic building constructed in 1905 on the corner of Granby and Plume Street was originally a hotel and converted to an office building in the 1980’s. The building was recently converted to apartments using historic tax credits, preserving, and restoring the historically significant brick exterior façade. The first floor has been occupied by a national retail tenant, Jimmy John’s, and the second and third floors converted to elegantly appointed boutique apartments in 2022. This is a rare opportunity for investors to purchase one of the most premier and recognizable buildings in Norfolk. Located in the heart of downtown Norfolk, tenants are given the opportunity to be fully immersed in the Live-Work-Play city lifestyle. Residents are steps away from all Downtown restaurants, retailers, MacArthur Mall, the Waterside District, the Historic Freemason neighborhood with cobblestone lined streets and historic homes, the WWII Battleship Wisconsin, and the Norfolk Cruise terminal and picturesque waterfront.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

7

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Albemarle at One East Plume St

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2022

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,151 SF

ZONING

D-2

APN/PARCEL ID

21285800

ASK ABOUT THIS PROPERTY

757-478-9920

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

757-478-9920

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.