7198 Chapman DrGloucester Point, VA 23072

Property Details for 7198 Chapman Dr

Year built

1989

Lot size

1.00 AC

Property size (Sq ft)

1,680 SF

Zone code

B-1

Property type

Office properties

Property subtype

Other office properties

APN

17074

APU

17074

Description

This exceptional 1,680 square foot commercial office building, located at 7198 Chapman Drive in Gloucester Point, Virginia, presents a unique investment opportunity. Built in 1989, this two-story property offers a flexible layout suitable for a variety of professional uses, including executive offices, medical offices, or traditional office settings. The asking price is $227,000. The property's prime location in Hayes offers convenient access to the Coleman Bridge, situated just 3.5 miles to the south. The spacious interior is well-designed to accommodate the needs of growing businesses. Multiple rooms provide ample space for individual offices, collaborative work areas, and client meeting spaces. The building's versatility makes it an ideal choice for businesses seeking to expand or establish a strong presence in the Gloucester Point area. The property's zip code is 23072, and it is situated in Gloucester County. This is a chance to acquire a well-maintained commercial property in a desirable location, offering significant potential for return on investment. The property is classified as an Office building with subtypes including Executive Office, Medical Office, and Traditional Office.

• CAP approach

  CAP return

  Valuation

  6%

  $354,761

  6.5%

  $327,471

  7%

  $304,081

• Comparable approach

  Method

  Valuation

  Relative Method

  $215,264

  Geo Method

  $280,577

• Alternative Use

  Use

  Valuation

  Residential

  $406,064

  Hospitality

  $371,953

  Educational

  $309,460

  Medical

  $320,103

  Retail

  $481,383

Location Insight

City

Hayes

County

Gloucester

State

Virginia

Latitude

37.2873

Longitude

-76.5089

CBSA code

47260

CBSA name

VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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