Industrial Warehouse/Manufacturing Asset
For Sale
$5,495,000
1033 Cavalier Blvd, Chesapeake, VA 23323
20,750 SF industrial building in Chesapeake, VA for sale.
Property Size20,750 SF
Lot Size6.37 Acres
Price / SF$264.82
Days on Market157
Property Features for 1033 Cavalier Blvd
General Information
Standard status
Active
Size
20,750 SF
Lot size
6.37 Acres
Property subtype
Industrial
Building Details
Building Size
20,750 SF
Listing Agency:
CBC Brooks Real Estate
(757) 803-0836
Listed By:
Douglas Kendall
(757) 803-0836
Source:
Cbcworldwide
Added: Mar 5
Changed: Aug 8
Last Checked: Apr 5 at 8:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBC Brooks Real Estate
Investment Insights
Based on property information with market context.
Located at 1033 Cavalier Blvd in Chesapeake, VA, this industrial property presents an opportunity for both owner-occupiers and investors. The property, totaling 20,750 square feet, is suitable for various industrial purposes. It is zoned M-1 Light Industrial, accommodating a range of manufacturing operations. The property consists of two adjoined buildings. The original building, constructed in 1985, comprises 8,750 square feet and features an 18-foot clear height. A 12,000-square-foot addition, built in 2016, offers a 42-foot clear height. Situated in Cavalier Industrial Park, the location provides convenient access to major thoroughfares, including I-64 and I-264. The 6.37-acre property is suited for warehouse and manufacturing operations or inclusion in an industrial investment portfolio. All FF&E will convey with the real estate.
Key Highlights
- 20,750 SF industrial warehouse/manufacturing building ideal for owner‑occupiers or investors.
- M‑1 Light Industrial zoning allows for diverse manufacturing uses.
- Convenient access to I‑64 and I‑264 in Cavalier Industrial Park.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$165,093
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,301,860
$3.3M
Cap Rate 7%
$2,358,471
$2.4M
Cap Rate 9%
$1,834,367
$1.8M
Market Conditions
NOI Build-Up for 20,750 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$201.7K $9.72/SF
− Vacancy
−$7.5K −$0.36/SF
EGI
$194.2K $9.36/SF
− OpEx
−$29.1K −$1.40/SF
NOI
$165.1K $7.96/SF
Area
Chesapeake, VA
Vacancy
3.70%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,301,860
Cap Rate 7%
$2,358,471
Cap Rate 9%
$1,834,367
Alternative Uses
Best Use
Warehouse
$2.36M
$2.06M – $2.75M
NOI $165,093 @ 7.0% cap · market cap 3.00%
Second Best
Industrial
$1.32M
$1.15M – $1.54M
NOI $92,240 @ 7.0% cap · market cap 1.68%
Theoretical Best
Office A
$6.13M
$5.37M – $7.15M
NOI $429,276 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
268
Businesses Nearby
Explore this area
Business Placement
Demographics for 23323, VA
42,736
Population
15,064
Households
2.8
Avg Household Size
36
Median Age
35%
College-Educated
93%
High-School Grad
81.9 sq mi
ZIP Area
522
Density / Sq Mi
$105,912
Median Household Income
$50,523
Median Earnings
$1,590
Median Rent
$360,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - 20,750 SF industrial building in Chesapeake, VA for sale.
Where is this manufacturing property located?
The property is located at 1033 Cavalier Blvd Chesapeake, VA.
What is the asking price?
The asking price for this property is $5,495,000.
What are key features of this property?
This property features: 20,750 SF industrial warehouse/manufacturing building ideal for owner‑occupiers or investors.; M‑1 Light Industrial zoning allows for diverse manufacturing uses.; Convenient access to I‑64 and I‑264 in Cavalier Industrial Park.
