0 days on market
$525,000
40 Rader St #505
Norfolk, Virginia 23510
MLS# 10638027 · DOWNTOWN AREA · Norfolk VA
Updated 4 days ago · Source: REIN MLS
Est. payment
$3,479/mo
Edit below
Price / sq ft
$284
1,848 sq ft
Days on market
0
New listing
HOA
None
Year built
1918
108 yrs old
Beds
2
Full Baths
2
Half Baths
0
Sq Ft
1,848
Garage
No
Schools
- ElementaryW.H. Taylor Elementary School8/10
- MiddleBlair Middle School4/10
- —
Info provided by GreatSchools
About this home
Lovely water views on two floors in this Penthouse overlooking the Elizabeth River and Downtown Norfolk. Floor to ceiling windows, skylights, private balconies on both levels, and a private rooftop terrace provide the perfect space for easy everyday living and fabulous entertaining. Two assigned parking spots #2 & #3 are in a gated lot w/private door to building. The Pier Condominium is extremely well-managed with am…
Listed by Charlotte Chandler · BHHS RW Towne Realty
VaHome Team property overview
A spacious 1,848-square-foot, two-bedroom, two-bath condo in a 1918 building right in Norfolk's Downtown Area — with Ben White Dog Park literally at your doorstep, two military bases under five minutes away, and a walkable urban lifestyle that's genuinely hard to beat.
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Why this home stands out
What sets 40 Rader Street #505 apart is the combination of pre-war character — think a century-old building with the bones to prove it — and a location that puts you within a quarter mile of restaurants, coffee, and green space. At 1,848 square feet, this is a rare downtown condo that actually gives you room to breathe, spread out, and live comfortably without sacrificing the energy of city life.
DOWNTOWN AREA and the Norfolk real estate market
The Downtown Area of Norfolk is one of the most walkable, culturally layered neighborhoods in Hampton Roads. You're surrounded by converted historic buildings, independent restaurants, waterfront parks, and the kind of street-level energy that suburban zip codes simply can't replicate. For anyone browsing norfolk va houses for sale and wondering where urban living actually works in this region, this neighborhood is the honest answer. Norfolk itself is a city of real depth — home to the world's largest naval station, a thriving arts scene anchored by the Chrysler Museum, and a downtown core that has been steadily reinventing itself for over a decade. The Elizabeth River waterfront is close, MacArthur Center is nearby, and Granby Street's dining and nightlife corridor is within easy reach. Living at 40 Rader Street puts you at the center of all of it — not on the edge looking in.
What's nearby
Step outside and Ben White Dog Park is essentially in your backyard, with Bea Arthur Dog Park just a one-minute walk further and Smith Creek green space also within a block. Cure Coffeehouse is 0.2 miles away for your morning routine, and Marley's @ the Y! and Zinnia Cafe & Events give you two more solid coffee options within half a mile. The Restaurant at Four Eleven York and Sirens Subs are both 0.2 miles out for lunch or dinner. Grocery runs are easy with Mercato Di Grazia, MacArthur General Store, and Amale Tre Focacceria & Italian Deli all within 0.7 miles. Fitness options include the Blocker Norfolk Family YMCA, Jim White Fitness & Nutrition Studios, and Riverview Aquatics Center — all under 0.6 miles.
For different buyers
For military families relocating
Naval Medical Center Portsmouth is a one-minute drive from 40 Rader Street, and USCG Base Portsmouth is three minutes out. For military households where commute time and operational readiness matter, this location is about as dialed-in as it gets. A VA loan can make a building like this more accessible than many buyers expect — and the square footage here gives a family real room to settle in.
For first-time buyers
If you're exploring houses to buy in Norfolk for the first time and want a home that trades yard maintenance for walkability, 40 Rader Street #505 is worth a serious look. At 1,848 square feet across two bedrooms and two baths, you're not compromising on space. The 1918 building adds character you simply can't find in new construction, and the surrounding neighborhood means your daily errands, coffee, and workouts are all on foot.
Frequently asked questions
How far is 40 Rader Street #505 from Naval Medical Center Portsmouth?
Naval Medical Center Portsmouth is approximately a one-minute drive from 40 Rader Street, making this one of the closest residential options to that installation in the area. USCG Base Portsmouth is about three minutes away by car.
What is the building's history at 40 Rader Street?
The building at 40 Rader Street was constructed in 1918, making it over a century old and one of the older residential structures in Norfolk's Downtown Area. Buildings of this era typically feature solid construction, thicker walls, and architectural details that newer developments rarely replicate.
Is there a dog park near 40 Rader Street #505?
Yes — Ben White Dog Park is essentially adjacent to the property at 0.0 miles, and Bea Arthur Dog Park is just 0.1 miles away. It's one of the most dog-friendly locations in downtown Norfolk.
Does 40 Rader Street #505 have an HOA?
As a condo unit in a multi-unit building, 40 Rader Street #505 is subject to a homeowners association. Specific HOA rules, amenities covered, and fee structures should be confirmed directly through the listing documentation or your agent.
Are there flood zone considerations for 40 Rader Street in Norfolk?
Norfolk is a coastal city and flood zone designations vary by specific parcel and elevation — the dedicated FloodRisk tile on this page provides the current FEMA flood zone classification for 40 Rader Street. It's always worth reviewing that information alongside any lender requirements.
Tom and Dariya Milan at LPT Realty know this neighborhood well. Reach out to get a straight answer on whether 40 Rader Street #505 fits your timeline and goals.
Summary generated by AI from public records and publicly available information.
Location & Neighborhood
Places within ~1 mile, ordered by distance from this property. Powered by Google Places.
Flood Risk
Property Details
Bedrooms
2
Full Baths
2
Half Baths
0
Approx Sq Ft
1,848
Stories
1
Fireplaces
0
Flooring
Carpet, Ceramic, Marble, Wood
Heating
Cooling
Laundry
Interior Features
N/A
Appliances
Dishwasher, Disposal, Dryer, Microwave, Elec Range, Refrigerator, Washer
Sale & Tax History
List Price
$525,000
Price / Sq Ft
$284
Annual Taxes
$7,220
Monthly Tax
$602
HOA
None
Tax Rate (effective)
1.38%
Sale Timeline (this listing)
| Event | Date | Price | Detail |
|---|---|---|---|
| Listed | Jun 5, 2026 | $525,000 | — |
| Currently listed | — | $525,000 | — |
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:
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.
About buying in Norfolk
Homes for sale in Norfolk, VA range from historic district townhouses in Ghent (23507) and waterfront condos along the Elizabeth River to ranch-style family homes in Larchmont, Lochaven, and Lafayette-Winona. As the cultural and economic heart of Hampton Roads, Norfolk offers something for nearly every buyer: $200K starter homes in Ocean View (23503, 23518), $400K-$600K Craftsman bungalows in Ghent and West Ghent (23517), executive homes near Old Dominion University (23508), and luxury riverfront properties in Larchmont and Algonquin Park. Norfolk's biggest employer is Naval Station Norfolk — the largest naval base in the world — and the city is also home to Norfolk Naval Shipyard, Eastern Virginia Medical School, Old Dominion University, and Norfolk State University. The active-duty military and academic communities drive steady year-round demand. Public schools include Maury High School in Ghent and Granby High School in Ocean View, and historically strong specialty programs at the Governor's School for the Arts. Buyers searching the 23510 (downtown) and 23508 (West Ghent / ODU corridor) ZIP codes will find the strongest mix of urban walkability and historic architecture; 23503 and 23518 (Ocean View) offer the most affordable waterfront entry points in Hampton Roads. The Norfolk MLS inventory below updates every 5 minutes from the REIN feed.
Military Commute
Drive times to nearest basesDrive 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.
Estimate your monthly payment
$3,479/moPrincipal & interest
$2,724
Property tax
$602
Home insurance
$153
PMI
None
HOA
None
Estimate only. 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.
Listed by BHHS RW Towne Realty · MLS# 10638027
Data provided by REIN MLS. Information deemed reliable but not guaranteed.
$525,000
40 Rader ST #505, NORFOLK VA 23510
Norfolk, Virginia 23510
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