Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Class A Office Building Space Title is generated by Realmo AI

    600 Independence Pkwy, Chesapeake, VA

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Class A office building in Chesapeake with spaces for rent.

    Type:OFFICE
    Property size:
    32,113 SF
    Lot size:
    11.45 Acres
    Added:
    May 8, 2025
    Days on Market:
    394
    Last Refresh:
    May 20 at 9:07 pm

    Property Features for 600 Independence Pkwy

    General Information

    Standard status
    Active
    Size
    32,113 SF
    Lot size
    11.45 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 600 Independence Pkwy Contact us

    We can help!

    Listing Contact
    Pat Mugler
    Pat Mugler

    Listing agent Pat Mugler

    Listing office Colliers | Norfolk

    Listing date May 8, 2025

    Source Moodyscre

    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 Colliers | Norfolk

    HighLights

    • Class A office building with ±96,000 SF.
    • Central Hampton Roads location with easy access to I‑464.
    • Ample parking with a 4/1,000 SF ratio.
    • Variety of suite sizes available, ranging from 2,275 SF - 32,113 SF.
    • Proximity to banks, restaurants, and other amenities.
    • Rental Rate: $20.00 PSF, Gross.

    Overview

    The Chubb building is a three-story, Class A office building encompassing approximately 96,000 square feet, situated in Chesapeake. Constructed in 1998, the property provides a parking ratio of 4 spaces per 1,000 square feet. Located in the center of Hampton Roads, it offers convenient access to I-464 and is near banks, restaurants, and other amenities. Available spaces include Suite 100 with 2,275 square feet, Suite 200 with 20,307 square feet, Suite 203 with 3,281 square feet, and Suite 300 with 32,113 square feet. The rental rate is $20.00 per square foot, on a gross lease basis.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mcintire Jones Cheryl Insurance Agency Distinctively Designed Events Event Planning Centurum Inc (Bike/Boat/Book/etc) Store Chubb Group of Insurance ... Insurance Agency Tuff Shipping Containers Storage Facility

    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
    County
    Chesapeake
    State
    Virginia
    Longitude
    -76.2624
    Latitude
    36.762

    Nearby Similar for Lease

    • $900/Mo

      Chesapeake Office Suite For Lease

      Versatile office suite in Chesapeake, ideal for small businesses.
      3808 POPLAR HILL Road, CHESAPEAKE, VA 23321
      View Details
    • $900/Mo

      Professional Office Space in Chesapeake

      Functional office suite with reception, conference room, and kitchen.
      3808 POPLAR HILL Road, CHESAPEAKE, VA 23321
      View Details
    • Sponsored
      $129-$6,866/Mo
      11-1,292 SF

      Crossways Blvd

      1545 Crossways Blvd, Unit 250, Chesapeake, VA 23320
      View Details
    • $25 SF/Yr
      5,914 SF

      Greenbrier Medical Office Building

      Class A medical office space in the heart of Greenbrier.
      725 Volvo Parkway, Chesapeake, VA 23320
      View Details
    • $28 SF/Yr
      12,327 SF

      Medical Office Space Available

      Medical office suites for lease in Chesapeake, Virginia.
      1933 Edwin Drive, Chesapeake, VA 23322
      View Details
    • $1,200/Mo
      5,000 SF

      Professional Office Suites For Rent

      Office suites in well-established Chesapeake office complex, 500-5,000 sqft.
      2010 Old Greenbrier Road, Chesapeake, VA 23320
      View Details
    • $24 SF/Yr
      2,101 SF

      Class A Office Space Available

      Two-story Class A office building in Liberty Executive Park.
      1305 Executive Blvd, Chesapeake, VA
      View Details
    • $14 SF/Yr
      12,000 SF

      Greenbrier Office Space Available

      Two-story office building in Chesapeake's Greenbrier area, near I-64.
      2117 Smith Avenue, Chesapeake, VA 23320
      View Details
    • $2,998/Mo
      2,998 SF

      Office Space with Flexible Floorplan

      Office space for rent with flexible floor plans.
      814 Greenbrier Circle, Chesapeake, VA 23320
      View Details
    • $1,200/Mo
      15,000 SF

      Professional Office Suites For Rent

      Well-appointed office suites in established Chesapeake office park.
      2010 Old Greenbrier Road, Chesapeake, VA 23320
      View Details
    • $2,790/Mo

      Modern Chesapeake Office Space Available

      Prime Chesapeake location with customizable office spaces and ample parking.
      1021 Eden Way N, Chesapeake, VA 23320
      View Details
    • $2,790/Mo

      Modern Chesapeake Office Space

      Prime Chesapeake location with modern amenities and customizable office spaces.
      1021 Eden Way N, Chesapeake, VA 23320
      View Details

    FAQs

    What type of property is this?
    Office building - Class A office building in Chesapeake with spaces for rent.
    Where is this office building located?
    The property is located at 600 Independence Pkwy Chesapeake, VA.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: Class A office building with ±96,000 SF.; Central Hampton Roads location with easy access to I‑464.; Ample parking with a 4/1,000 SF ratio.
    (757) 490-3300 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Pat Mugler
    Pat Mugler
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    600 Independence Pkwy, Chesapeake, VA
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!