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    1712 Ring Road Chesapeake, VA 23320 Chesapeake, VA 23320

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    Sponsored
    For Lease
    Contact for pricing

    8,455 SF Freestanding Restaurant, Ideal Location

    Lot size:
    8,455 SF

    Property Features for 1712 Ring Road Chesapeake, VA 23320

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    8,455 SF
    Elevators
    N/A

    Amenities

    Overview

    Freestanding Restaurant Space in Chesapeake

    Located at 1712 Ring Road in Chesapeake, Virginia, this 8,455-square-foot freestanding space is suitable for restaurant or retail use. The property is an outparcel within the Greenbrier Mall parking lot, offering high visibility on Greenbrier Parkway and convenient access off Interstate 64. Ample designated parking surrounds the building. Situated in the Greenbrier submarket, the location provides exposure to a substantial customer base. Chesapeake is less than 30 minutes from both Virginia Beach and Norfolk. The building's size and layout are well-suited for a large-scale operation, with ample room for dining areas, kitchen facilities, and support spaces. The property is ready for immediate occupancy and presents a compelling investment opportunity in a high-traffic area.

    We can help!

    Listing Contact
    Margaret Anne Harrison

    Learn more

    Property Insight Report

    HighLights

    • Prime 8,455 sq ft freestanding restaurant space in Chesapeake, VA.
    • High visibility location in Greenbrier Mall parking lot, off I‑64.
    • Convenient access to Virginia Beach & Norfolk, less than 30 minutes away.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chesapeake
    State
    Virginia
    Longitude
    -76.227823
    Latitude
    36.779075

    Nearby Comparable

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      Retail Space in Chesapeake, VA

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      Chesapeake Retail Space For Lease

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      1,200 SF

      Office Space Near Greenbrier Mall

      Office space for rent with convenient highway access.
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      5,904 SF

      Retail Spaces For Lease

      Retail spaces available, ranging from 1,000 to 27,000 square feet.
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      15,380 SF

      Chesapeake Retail Space For Sale

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      1,530 SF

      Retail Spaces Available for Lease

      Retail spaces available from 1,000 to 27,000 square feet.
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      1,480 SF

      Retail Space in Greenbrier Village

      Vibrant retail space near I-64 and Greenbrier Mall.
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    • Sponsored
      Contact for pricing

      Crossways Blvd

      Meet, work or collaborate in our professional The Pinnacle Building business center
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      View Details

    FAQs

    What type of property is this?
    Restaurant - 8,455 SF Freestanding Restaurant, Ideal Location
    Where is this restaurant located?
    The property is located at 1712 Ring Road Chesapeake, VA 23320 Chesapeake, VA.
    What are key features of this property?
    This property features:
    (757) 448-2129
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1712 Ring Road Chesapeake, VA 23320 Chesapeake, VA 23320
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    We can help!
    Listing Contact
    Margaret Anne Harrison
    (757) 448-2129
    Learn more
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