This exceptional 5,184-square-foot industrial property, situated on an expansive 8-acre lot in Chesapeake, Virginia, presents a unique investment opportunity. The property features two buildings, offering a flexible layout ideal for a variety of industrial or warehouse uses. Currently entirely vacant, the entire 5,184 square feet is available for lease to a single tenant. Built in 1970, the property is zoned M1 - Light Industrial, allowing for a range of permitted activities. The location at 5411 W Military Highway, Chesapeake, VA 23321, provides excellent access to major transportation routes, enhancing logistical efficiency. The substantial lot size offers ample room for expansion, storage, or outdoor operations. This property is perfect for a business seeking a spacious, versatile workspace in a prime Chesapeake location. The property's single-tenant occupancy ensures ease of management and control. With its generous square footage and expansive land area, this property offers significant potential for growth and profitability. The property's location in Chesapeake, Virginia, provides access to a skilled workforce and a thriving business community. This is a rare opportunity to acquire a well-located, sizable industrial property in a desirable market.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$494,475
6.5%
$456,438
7%
$423,836
Comparable approach
Method
Valuation
Relative Method
$270,791
Geo Method
$402,962
Alternative Use
Use
Valuation
Industrial / Distribution
$892,292
Mixed-Use / Specialty
$453,925
Hospitality / Lodging
$331,876
Office
$450,305
Institutional / Educational
$471,582
Residential Income
$551,751
Multifamily
$666,654
Automotive / Energy
$404,213
Parking / Income-Based Land
$140,365
Restaurant / Food Service
$234,198
Healthcare / Senior Housing
$466,400
Location Insight
City
Chesapeake
County
Chesapeake City
State
Virginia
Latitude
36.7699
Longitude
-76.4583
CBSA code
47260
CBSA name
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
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Military Hwy Chesapeake, VA 23321
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Military Hwy Chesapeake, VA 23321
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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