Industrial Warehouse/Manufacturing Asset
1033 Cavalier Blvd, Chesapeake, VA 23323
For Sale
$5,495,000
20,750 SF industrial building in Chesapeake, VA for sale.
Property Size20,750 SF
Lot Size6.37 Acres
Price / SF$264.82
Days on Market250
Property Features for 1033 Cavalier Blvd
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Building Details
Building Size
Listing Agency:
CBC Brooks Real Estate
Listed By:
Douglas Kendall
(757) 803-0836
Source:
Cbcworldwide
Added: Mar 5
Changed: Aug 8
Last Checked: Jul 26 at 3:20AM
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
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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 / Yr
$165,093
Cap Rate
3.00%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Location Intelligence
Trade Area within ½ mile
268
Businesses Nearby
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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
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Market
Vacancy Rate% for Industrial in South region
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.
