Freestanding Funeral Home
For Sale
$1,800,000
1144 George Washington Highway North, Chesapeake, VA 23323
Freestanding building on a 2-acre site with heavy highway exposure, ample parking, and B2 zoning for flexible use.
Property Size9,072 SF
Lot Size2.00 Acres
Price / SF$198.41
Days on Market48
Property Features for 1144 George Washington Highway North
General Information
Standard status
Active
Size
9,072 SF
Lot size
2.00 Acres
Property subtype
Special Purpose
Zoning
B2
Site & Location
Traffic Count
17,100 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1985
Listing Agency:
Divaris Real Estate - Hampton Roads
(757) 675-9132
Listed By:
Levi Thomson
(757) 675-9132
Source:
Divaris
Added: Jun 18
Changed: Jul 10
Last Checked: Aug 4 at 5:25AM
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 Divaris Real Estate - Hampton Roads
Investment Insights
Based on property information with market context.
The property is a 9,072 SF freestanding funeral home building situated on a 2-acre parcel. It is positioned to take advantage of a prominent roadside presence, with ample parking capacity to support patient, guest, or customer arrivals. The site is served by full-movement accessibility for convenient ingress and egress.
Located at 1144 George Washington Highway North in Chesapeake, Virginia, the property fronts George Washington Highway (U.S. Route 17), a major north–south corridor serving the southern Chesapeake and Deep Creek areas. The listing notes approximately 340 feet of frontage and traffic of 17,100 vehicles per day along U.S. Route 17. The surrounding area is described as residential neighborhoods and a diverse mix of regional employers and retail drivers.
The building and site are offered for purchase with redevelopment and alternative end-user options in mind. With B2 – General Business zoning, the property may be suited to retail or medical uses, along with other redevelopment concepts that align with the zoning and site layout. For tenants, buyers, and operators seeking a freestanding format with highway visibility and parking, this property provides a straightforward, high-exposure platform on a highly trafficked roadway.
Located at 1144 George Washington Highway North in Chesapeake, Virginia, the property fronts George Washington Highway (U.S. Route 17), a major north–south corridor serving the southern Chesapeake and Deep Creek areas. The listing notes approximately 340 feet of frontage and traffic of 17,100 vehicles per day along U.S. Route 17. The surrounding area is described as residential neighborhoods and a diverse mix of regional employers and retail drivers.
The building and site are offered for purchase with redevelopment and alternative end-user options in mind. With B2 – General Business zoning, the property may be suited to retail or medical uses, along with other redevelopment concepts that align with the zoning and site layout. For tenants, buyers, and operators seeking a freestanding format with highway visibility and parking, this property provides a straightforward, high-exposure platform on a highly trafficked roadway.
Key Highlights
- 9,072 SF freestanding funeral home building on a 2.0‑acre parcel
- ~340 ft frontage on George Washington Highway (U.S. Route 17) with ~17,100 VPD traffic count
- B2 – General Business zoning with full‑movement accessibility
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $129.5k | $14.28 |
| − Vacancy | −$7.0k | −$0.77 |
| EGI | $122.6k | $13.51 |
| − OpEx | −$36.8k | −$4.05 |
| NOI | $85.8k | $9.46 |
9,072 SF · lease $14.28/SF/yr · vacancy 5.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.23M
$1.07M – $1.43M
NOI $85,787 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.68M
$2.35M – $3.13M
NOI $187,682 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
17,100 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
259
Businesses Nearby
37k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 88%
Dining 6%
Electronics 6%
7-Eleven
Shops & Services
13,535 visits/mo
0.2 miles
Family Dollar
Shops & Services
9,302 visits/mo
0.2 miles
Wells Fargo
Shops & Services
5,277 visits/mo
0.3 miles
AutoZone
Shops & Services
4,233 visits/mo
0.1 miles
Metro by T-Mobile
Electronics
2,225 visits/mo
0.2 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Freestanding building on a 2-acre site with heavy highway exposure, ample parking, and B2 zoning for flexible use.
Where is this retail space located?
The property is located at 1144 George Washington Highway North Chesapeake, VA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 9,072 SF freestanding funeral home building on a 2.0‑acre parcel; ~340 ft frontage on George Washington Highway (U.S. Route 17) with ~17,100 VPD traffic count; B2 – General Business zoning with full‑movement accessibility
