1809 Greenbrier PkwyChesapeake, VA 23320

Property Details for 1809 Greenbrier Pkwy

Year built

1987

Lot size

0.72 AC

Property size (Sq ft)

4,293 SF

Zone code

PUD: PLANNED UNIT DEVELOP

Property type

Office buildings

APN

280000000393

APU

280000000393

Description

This exceptional 4,293 square foot, two-story office building presents a unique investment opportunity in Chesapeake, VA's thriving Greenbrier submarket. Situated on a 0.72-acre lot at the corner of Greenbrier Parkway and Citizens Lane, this former bank branch boasts a prime location with high visibility and accessibility. The property features a convenient four-lane drive-thru, 27 surface parking spaces, and a monument sign. Built in 1987, the Class B building offers excellent potential for renovation or build-to-suit opportunities. The site benefits from a daily traffic count of 29,000 vehicles and is strategically located less than half a mile from I-64, providing easy access to major transportation arteries. The property is zoned Planned Unit Development (PUD), allowing for a variety of commercial uses, including offices, retail, and services, as permitted by the Chesapeake Zoning Ordinance. Nearby amenities include national retailers, major employment centers, and educational institutions such as Indian River High School. The property's adjacency to Taco Bell and proximity to Toyota and Infiniti dealerships further enhances its desirability. This is an exceptional opportunity to acquire a well-positioned commercial property in a high-growth area. The property taxes are $2.90 per square foot.

• CAP approach

  CAP return

  Valuation

  6%

  $796,497

  6.5%

  $735,228

  7%

  $682,712

• Comparable approach

  Method

  Valuation

  Relative Method

  $481,807

  Geo Method

  $716,974

• Alternative Use

  Use

  Valuation

  Residential

  $911,683

  Hospitality

  $835,097

  Educational

  $694,790

  Medical

  $718,685

  Retail

  $1,080,785

Location Insight

City

Chesapeake

County

Chesapeake City

State

Virginia

Latitude

36.7919

Longitude

-76.2396

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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