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Norfolk › DOWNTOWN AREA › 40 Rader St #504✓ Source: REIN MLS #10651611 · record updated Sep 10, 2026 · synced every 2 min · your inquiry is never resold
40 Rader ST #504, NORFOLK VA 23510 - Main photo
40 Rader ST #504, NORFOLK VA 23510 - Photo 2
40 Rader ST #504, NORFOLK VA 23510 - Photo 3
40 Rader ST #504, NORFOLK VA 23510 - Photo 4
40 Rader ST #504, NORFOLK VA 23510 - Photo 5
3beds
2.1baths
2,010sqft
8days on market

40 Rader St #504, Norfolk, VA 23510

ActiveResidential · built 1918 · DOWNTOWN AREA

Chapter · The Water

Life on the water

The waterfront is the reason this home exists. Its water record, straight from the listing: Deep Water, Deep Water Access, Dock, River.

Frontage

River ✓ VERIFIED

Dock

Dock

Access

Deep-water access

Source: REIN MLS listing record · waterfront features as listed

Facts & features

Type

Residential

Year built

1918

Price / sqft

$289

Condo fee

$1,150/mo

Taxes

$7,561/yr

County

Norfolk VA

Waterfront

Yes

MLS #

10651611

Condo association includes

CableClubhouseDockElevatorGround MaintSecuritySewerTrash PickupWater

$1,150/mo condo fee · The Pier Condominium Association · per the REIN MLS listing record — confirm inclusions with the association.

Interior

Bedrooms
3
Full baths
2
Half baths
1
Approx. sqft
2,010
Stories
2
Flooring
Carpet, Ceramic, Laminate/LVP
Ensuite bedrooms
1
Total rooms
6
Other rooms
Assigned Storage, Foyer, PBR with Bath, Pantry, Utility Closet
Appliances
Dishwasher, Disposal, Dryer, Microwave, Elec Range, Refrigerator, Washer
Equipment
Ceiling Fan
Accessibility
Elevator

Construction & exterior

Style
Mid Rise
Subtype
Attached
Foundation
Pile
Roof
Other
Exterior
Other
Sustainability
Concrete Construction
Pool
No Pool
Waterfront
Deep Water,Deep Water Access,Dock,River
Deep-water access
Yes

Utilities & systems

Heating
Forced Hot Air
Cooling
Central Air
Water heater
Electric
Water
City/County
Sewer
City/County

Lot, parking & ownership

Lot size
0.0291
Subdivision
DOWNTOWN AREA
Unit / floor
2
Ownership
Condo
Garage
No
Parking
Assigned/Reserved, Off Street
Possession
SETTLEMENT
Disclosures
Disclosure Statement, Resale Certif Req

See more Norfolk waterfront homes.

Sources: REIN MLS record · city assessor · null fields are suppressed, never faked

About this home

SELLER OFFERING UP TO $14,000 BUYER CREDIT! Use it toward an interest-rate buydown, eligible closing costs, or condo fees—giving buyers flexibility to make this luxury waterfront home more affordable. Major updates include a new HVAC system, water heater, and washer/dryer combination, providing additional peace of mind for the next owner. Two Levels. Waterfront Views. More Than a Century of Norfolk History. Welcome to 40 Rader St, Unit 504, where waterfront living places you within easy reach of some of Norfolk's best entertainment, dining and experiences. Spend an evening enjoying Waterside District, waterfront restaurants and live music, or experience signature Norfolk events including Harborfest, the Norfolk Waterfront Jazz Festival and seasonal festivals at Town Point Park. Watch yachts and boats travel the Elizabeth River, enjoy the energy of Downtown Norfolk, or turn vacation mode on with Carnival cruises departing right from Norfolk. And when the festivities are over, come home to your own two-level waterfront retreat with panoramic views. Historic character. Waterfront scenery. Dining. Festivals. Yachts. Cruises. Entertainment. And don't forget the $14,000 seller credit! Buy down your interest rate, apply it toward allowable closing costs, or use it toward condo fees. You choose how to make the incentive work best for you, subject to lender and association requirements. The condo association includes water, trash, cable, flood liability coverage, and building insurance, along with access to a fitness center, clubhouse, private storage, and two dedicated parking spaces. Come see the views, experience the lifestyle, and discover why Unit 504 may be the waterfront home you've been waiting for. This isn't simply a place to live — it's a Norfolk waterfront lifestyle. Schedule your private tour today.

Listing courtesy of Roger Lee · Creed Realty · REIN MLS #10651611

Tom & Dariya's overview

Our read on this home

by Tom & Dariya Milan, REALTORS® · Brokered by LPT Realty

At a glance

Unit 504 at 40 Rader Street is a three-bedroom, two-and-a-half-bath downtown Norfolk condo spanning 2,010 square feet inside a century-old building, steps from the Elizabeth River waterfront, Smith Creek, and some of the city's best independent restaurants and coffee shops.

Keep searching in Norfolk

See all Norfolk homes for sale, including homes for sale in 23510, homes for sale zoned for Kings Daughters Hosp. Ep., and homes for sale zoned for W.H. Taylor Elementary School. Browse every listing among homes for sale in Norfolk — updated from the REIN MLS every few minutes. Nearby, look at Downtown Newport News homes for sale, Norfolk waterfront homes for sale, Norfolk condos and townhomes for sale, and new construction homes in Norfolk.

Read the full overview ↓

Why this home stands out

What sets this address apart is the rare combination of historic bones — the building dates to 1918 — with the kind of square footage that most downtown condos simply can't match. Three bedrooms and 2,010 square feet give you room to spread out, work from home, or host, all without leaving the walkable core of Norfolk. That's a genuinely uncommon package in the 23510 zip code.

DOWNTOWN AREA and the Norfolk real estate market

The Downtown Area neighborhood sits at the heart of Norfolk, Virginia, where the Elizabeth River curves around a walkable grid of converted warehouses, arts venues, and independent businesses that have been quietly reshaping this part of the city for years. Rader Street in particular sits close to the water — Smith Creek is just a tenth of a mile away, and The Pier at Brooke Avenue is two blocks beyond that. You're within easy reach of MacArthur Center, the Chrysler Museum of Art, and the NEON arts district. Norfolk homes for sale in this neighborhood tend to draw people who want city life without sacrificing space, and Unit 504 makes a strong case for that lifestyle. The city's light rail (The Tide) connects downtown to ODU and beyond, and the waterfront HRT ferry makes cross-river commutes straightforward. Norfolk is a city that rewards people who explore it on foot, and this block is one of its most walkable.

What's nearby

Daily errands and leisure are genuinely easy from 40 Rader Street. Mercato Di Grazia and MacArthur General Store are both within half a mile for groceries, and Amale Tre Focacceria & Italian Deli adds a specialty option at 0.7 miles. For coffee, Cure Coffeehouse is three-tenths of a mile away, with Marley's @ the Y! and Rich Port Coffee rounding out the options at 0.4 miles each. Sirens Subs and The Restaurant at Four Eleven York are both within a short walk for meals. Fitness is covered by the Blocker Norfolk Family YMCA, Riverview Aquatics Center, and Jim White Fitness & Nutrition Studios — all within half a mile. Ben White Dog Park is two-tenths of a mile away.

For different buyers

For military families relocating

Naval Medical Center Portsmouth is about one minute by car from this address, and USCG Base Portsmouth is three minutes out — making Unit 504 one of the most commute-efficient addresses in the region for personnel assigned to either installation. A VA loan is a natural fit here, and the downtown location means a second earner or remote worker has plenty of options without needing a second vehicle.

For first-time buyers

If you're comparing homes for sale in Norfolk and wondering whether downtown living can actually work for a first purchase, Unit 504 makes the case clearly. Three bedrooms give you flexibility — a home office, a guest room, or space to grow — and the walkable block means you can genuinely reduce how much you spend on transportation. Historic character, real square footage, and a location that only gets more connected over time.

More buyer questions

How far is 40 Rader Street #504 from Naval Medical Center Portsmouth?

Naval Medical Center Portsmouth is approximately one minute by car from this address, making it one of the closest residential options to that installation in the area. USCG Base Portsmouth is about three minutes away.

Is 40 Rader Street #504 in a flood zone?

Flood zone information for this address is detailed in the FloodRisk tile on this page, which reflects the most current FEMA mapping data available.

What school zone does 40 Rader Street #504 fall in?

Families comparing homes for sale zoned for Kings Daughters Hosp. Ep. and homes for sale zoned for W.H. Taylor Elementary School will find this address falls within the relevant Norfolk City Public Schools boundaries — confirm current zoning with the district directly, as boundaries can change.

Does 40 Rader Street have an HOA?

Yes, the building operates under a homeowners association structure typical of converted historic condominium buildings. HOA details including rules and included services should be confirmed during the due-diligence period.

What is the Walk Score like for homes for sale in 23510?

The 23510 zip code — and Rader Street in particular — ranks among the most walkable addresses in Norfolk, with groceries, coffee, restaurants, parks, and fitness all within half a mile of the front door.

Tom and Dariya Milan at LPT Realty know this neighborhood well. Reach out to get a straight answer on anything — tours, comps, VA loan questions, or just a second opinion.

Summary generated by AI from public records and publicly available information.

Homes like this one sell fast — see the next one first

Norfolk$490K – $670K3+ beds

By subscribing you agree to receive listing emails from Tom & Dariya Milan, Realtors, at most one a day. Unsubscribe anytime · Privacy PolicyBrokered by LPT Realty

Schools

VaHome School Score

Our own 1–10 rating, scored from Virginia Department of Education data.

VaHome School Score — calculated by VaHome.com from Virginia Department of Education assessment, progress, and attendance data. Attendance zones come from the MLS listing record; confirm the current zone with the school division before making an offer.

Flood & environment

FEMA flood zone AE · base flood elevation 9 ft · Special Flood Hazard Area (flood insurance typically required) · FIRM 510104

Flood Risk

Looking up FEMA flood zone…

Zone AE typically means lenders require flood insurance — factor it into the monthly numbers below.

Hurricane Evacuation Zone

Evacuation Zone A

Source: Virginia Dept. of Emergency Management — Know Your Zone

In the Downtown Newport News neighborhood of Norfolk. houses for sale in Norfolk →

Location intelligence

Minutes to real places, not a score

Location & Neighborhood

Places within ~1 mile, ordered by distance from this property. Powered by Google Places.

Military Commute

Drive times to nearest bases

Drive times via Google Maps with current traffic patterns. Times are typical and may vary by time of day. Use the "Analyze" button up top to see live drive time to your saved base.

The numbers

Run the real carrying cost

Estimates only — taxes come from the public record; confirm rates with your lender. VA-eligible buyers: $0-down financing may apply.

Estimate your monthly payment

$3,808/mo

Principal & interest

$3,009

Property tax

$630

Home insurance

$169

PMI

None

HOA/Condo (paid separately)

$1,150

Estimate only. Association (HOA/condo) fees are paid separately and are not included in the payment above. Insurance assumed at 0.35% of home value annually. Actual taxes, insurance, and rate will vary by lender, credit, and property. Contact a lender for a personalized quote.

Value & history

Judge value on real ground

Asking vs. assessment

118% of $492,300

City assessment record · taxes $7,561/yr

Land share of assessed value

16% — $77,000

Improvements $415,300 · assessor record ✓

Price context — similar nearby homes

$227,600 – $500,000

The 6 most similar homes nearby (same city, within ~20% of this size, ~2.5 mi; 6 sold). Context for judging the asking price — not an appraisal or an estimate of this home's value.

301 Brooke AVE #305 · 0.4 mi · 1,766 sqft$399,999 sold 2026-02
415 Saint Pauls BLVD #709 · 0.9 mi · 2,063 sqft$500,000 sold 2026-04
301 Brooke AVE #103 · 0.4 mi · 1,642 sqft$342,500 sold 2026-05

Own a home nearby? See what it is worth today — What's your Norfolk home worth?

Sale & Tax History

List Price

$579,900

Price / Sq Ft

$289

Annual Taxes

$7,561

Monthly Tax

$630

Condo fee

$1,150 / mo

Tax Rate (effective)

1.30%

Sale Timeline (this listing)

EventDatePriceDetail
ListedSep 3, 2026$579,900—
Currently listed—$579,900—

Public-Records Assessment

Source: City Assessor via Hampton Roads Regional Parcels.

18% above assessment

Total Assessed

$492,300

Land

$77,000

Improvement

$415,300

Looking for multi-year tax assessments or prior sales? REIN MLS only ships data for the current listing. For full property history, check the city assessor record:

Norfolk Real Estate Assessor

Tax data above from REIN public-records sync. Sale timeline tracked from this listing's first appearance in our feed forward; prior owner sales are not included.

Comparable Properties

Comps are selected by city, bed count, square footage and price proximity. Composite similarity score weights bed match, sqft variance, price variance, and straight-line distance.

Market tempo

8 days on market — read it in context

Days on market reflects pricing, season, and inventory — compare it against similar nearby homes below before reading anything into it.

Questions buyers ask

Is 40 Rader St #504 in a good school zone?+
The assigned zones on the listing record are Walter Herron Taylor Elementary, Blair Middle (VaHome School Score 3.5/10), Maury (VaHome School Score 3.8/10). School attendance zones can change — always confirm enrollment with the local school division.
Is 40 Rader St #504 in a flood zone?+
FEMA maps this parcel in Zone AE with a base flood elevation of 9 ft — a high-risk flood band where lenders typically require flood insurance. See the flood section on this page for the full details and sources, and verify with an elevation certificate.
Is there a gym near 40 Rader St #504?+
Yes — Blocker Norfolk Family YMCA is about 0.4 miles away, per the cached nearby-places record for this address.
Are there parks near 40 Rader St #504?+
Ben White Dog Park is about 0 miles away.
Where is the nearest grocery store to 40 Rader St #504?+
Mercato Di Grazia is about 0.6 miles away. The closest dining on record is The Restaurant at Four Eleven York (0.2 mi).
Is 40 Rader St #504 a waterfront property?+
Yes. The listing record shows: Deep Water,Deep Water Access,Dock,River.
Does 40 Rader St #504 have a condo association?+
Yes — condo association fees are on record for this unit (the current amount is shown in the facts section on this page). The association of record is The Pier Condominium Association. Association amenities on record include: Cable, Clubhouse, Dock, Elevator, Ground Maint, Security, Sewer, Trash Pickup, Water.
When was 40 Rader St #504 built?+
It was built in 1918, per the listing record.

Answers generated from the listing record, verified school zones, FEMA data, and cached nearby-places data — never invented.

The people

You'll talk to a person, not a lead queue

TD

Tom & Dariya Milan

Brokered by LPT Realty · Hampton Roads · answer their own phone

✓ Your inquiry goes to Tom & Dariya — never sold to strangers

Listing courtesy of Roger Lee · Creed Realty · REIN MLS #10651611

Call or text (757) 777-7577

Ask Dariya — instant answers

Schools, flood, drive times, what it really costs to own — answered from this page's data, by chat or voice.

Schedule a private tour

Free, no obligation — your inquiry goes to Tom & Dariya, never resold.

40 Rader St #504, Norfolk — photo

See it in person — the record only says so much.

Call or text (757) 777-7577

40 Rader St #504, Norfolk, Virginia 23510 · MLS #10651611 · Source: REIN MLS + public record. Information deemed reliable but not guaranteed — verify independently. School zones subject to change; confirm with the local school division. All locations are described by neutral geographic fact. Equal Housing Opportunity.

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