NORFOLK, VA (December 2021): S.L. Nusbaum Realty Co. is pleased to announce the sale of 226-230 W. Olney Road and 801 Boush Street in Norfolk, VA. Sam Rapoport and Ben Leon represented the seller, The Runnymede Corporation.
The property is comprised of 24,407 square feet of retail/office space and sits on .81 acre in the heart of Downtown Norfolk. It was purchased by Larandon’s Homes, LLC, a residential real estate firm, for $2,050,000.
Originally built in 1930 at a cost of approximately $43,000, 801 Boush Street became an integral part of the Downtown Norfolk skyline and officially opened on July 12, 1930 as a full-service Firestone.
In the 1940’s, S.L. Nusbaum Realty Co. was engaged by the landowners of this property to handle the sale-leaseback real estate transaction between Firestone and The Runnymede Corporation.
Years later, in 1985, the property was converted to office space. The retail portion (226-230 W. Olney Road) was added to the neighboring parcel, constructed in 1979, adding approximately 5,000 SF feet to the Downtown Norfolk retail market.
“Things have come full circle for S.L. Nusbaum Realty Co. and this historical property. Decades later, we were honored to have had the opportunity to offer our services to the ownership once again.” said Ben Leon.
Historical photos shown are courtesy of the Sargeant Memorial Collection (Norfolk Public Library)
With over 115 years of expertise in the real estate industry, S.L. Nusbaum Realty Co. manages, develops and provides sales and leasing services for shopping centers, apartment communities, office, industrial and investment properties throughout the Mid-Atlantic and Southeast.