1205 Bainbridge BlvdChesapeake, VA 23324

Property Details for 1205 Bainbridge Blvd

Year built

1754

Lot size

0.16 AC

Property size (Sq ft)

3,728 SF

Zone code

B2: GENERAL BUSINESS

Property type

Office buildings

APN

1270000002670

APU

1270000002670

Description

This exceptional investment opportunity presents a fully occupied mixed-use building located at 1205-1207 Bainbridge Boulevard in Chesapeake, Virginia. The property sits on a 0.16-acre lot and comprises a ground-floor commercial space currently leased to a stable tenant, and three residential units on the upper floors. All units are currently occupied, providing immediate and consistent income generation. The building is well-maintained and boasts a strong rental history, demonstrating its appeal and profitability. Ample parking is available on the side and rear of the building, providing convenient access for both commercial tenants and residential occupants. Its strategic location near major interstates offers easy access to Downtown Norfolk, a significant advantage for both commercial operations and residential living. The proximity to shopping, dining, and business centers further enhances the property's desirability and potential for continued strong rental income. This property represents a rare opportunity to acquire a stable, income-producing asset in a high-demand area, making it an ideal addition to any investment portfolio. The asking price is $485,000.

• CAP approach

  CAP return

  Valuation

  6%

  $691,670

  6.5%

  $638,465

  7%

  $592,860

• Comparable approach

  Method

  Valuation

  Relative Method

  $418,397

  Geo Method

  $622,613

• Alternative Use

  Use

  Valuation

  Residential

  $791,697

  Hospitality

  $725,190

  Educational

  $603,349

  Medical

  $624,100

  Retail

  $938,544

Location Insight

City

Chesapeake

County

Chesapeake City

State

Virginia

Latitude

36.8148

Longitude

-76.2783

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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