Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1828 S Military Hwy Chesapeake, VA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    18,196 SF warehouse with renovated office and laydown yard.

    Type:INDUSTRIAL
    Property size:
    18,196 SF
    Lot size:
    2.91 Acres
    Added:
    Apr 3, 2025
    Days on Market:
    385
    Last Refresh:
    Apr 5 at 9:52 pm

    Property Features for 1828 S Military Hwy

    General Information

    Standard status
    Active
    Size
    18,196 SF
    Lot size
    2.91 Acres
    Property subtype
    INDUSTRIAL

    Spaces For Lease

    at 1828 S Military Hwy Contact us

    We can help!

    Listing Contact
    Chamie Burroughs
    Chamie Burroughs

    Listing agent Chamie Burroughs

    Listing office Colliers | Norfolk

    Listing date Apr 3, 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

    Overview

    Renovated Chesapeake Warehouse with Laydown

    This property offers approximately 18,196 square feet of total space, including roughly 12,943 square feet of warehouse area and 2,608 square feet of office space. An additional 2,645 square feet is available as a second-floor mezzanine storage area. The property is situated on a 6.1-acre parcel. Loading is facilitated by seven drive-in doors, including five measuring 14 feet by 16 feet, one measuring 14 feet by 10 feet, and one measuring 10 feet by 10 feet. The warehouse features varying clear heights: 11 feet across 5,464 square feet and 19 feet 9 inches across 7,479 square feet. Power is supplied at 208V / 400A / 3-phase. Zoned M-1, the masonry building is undergoing a comprehensive renovation, which includes a new office/showroom, a new glass storefront, new overhead doors, exterior painting and masonry repair, LED lighting in the warehouse, and new HVAC and gas warehouse heaters. The adjacent gravel laydown yard is being developed with new fencing, lighting, and stormwater retention. The property is expected to be delivered in May 2025.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hampton Roads Tire ... (Bike/Boat/Book/etc) Store Causeway Plumbing LLC Plumbing Service

    Suggested Use

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

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

    Similar Places Nearby

    • Life Storage - Chesapeake — 1907 Campostella Rd, Chesapeake, VA 23324
    • Self-Storage at U-Haul — 664 Woodlake Dr, Chesapeake, VA 23320
    • Extra Space Storage — 659 Woodlake Dr, Chesapeake, VA 23320
    • 𝗙𝗿𝗶𝗲𝗻𝗱𝗹𝘆 𝗩𝗔 𝗠𝗼𝘃𝗲𝗿𝘀 — 2604 Mark St, Chesapeake, VA 23324

    Location Insight

    • Map
    • Local Demand
    City
    Chesapeake
    County
    Chesapeake
    State
    Virginia
    Longitude
    -76.2505
    Latitude
    36.7872

    Nearby Similar for Lease

    • $13/mo

      Adaptable Industrial Flex Space

      Versatile space suitable for office, warehouse, or showroom.
      3741 Holland Boulevard, Chesapeake, VA 23323
      View Details
    • Contact for pricing

      Chesapeake Office Suite For Lease

      Versatile office suite in Chesapeake, ideal for small businesses.
      3808 POPLAR HILL Road, CHESAPEAKE, VA 23321
      View Details
    • Contact for pricing

      Professional Office Space in Chesapeake

      Functional office suite with reception, conference room, and kitchen.
      3808 POPLAR HILL Road, CHESAPEAKE, VA 23321
      View Details
    • $20/mo

      Commercial Space in Chesapeake, VA

      Commercial space for lease in a prime Chesapeake location.
      113 Great Bridge Boulevard, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      Modern Chesapeake Office Space Available

      Prime Chesapeake location with customizable office spaces and ample parking.
      1021 Eden Way N, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      Modern Chesapeake Office Space

      Prime Chesapeake location with modern amenities and customizable office spaces.
      1021 Eden Way N, Chesapeake, VA 23320
      View Details
    • $25/mo

      Greenbrier Medical Office Building

      Class A medical office space in the heart of Greenbrier.
      725 Volvo Parkway, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      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
    • $28/mo

      Medical Office Space Available

      Medical office suites for lease in Chesapeake, Virginia.
      1933 Edwin Drive, Chesapeake, VA 23322
      View Details
    • Sponsored
      Contact for pricing

      Crossways Blvd

      1545 Crossways Blvd, Unit 250, Chesapeake, VA 23320
      View Details
    • $14/mo

      Greenbrier Office Space Available

      Two-story office building in Chesapeake's Greenbrier area, near I-64.
      2117 Smith Avenue, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      Professional Office Suites For Rent

      Well-appointed office suites in established Chesapeake office park.
      2010 Old Greenbrier Road, Chesapeake, VA 23320
      View Details

    FAQs

    What type of property is this?
    Warehouse - 18,196 SF warehouse with renovated office and laydown yard.
    Where is this warehouse located?
    The property is located at 1828 S Military Hwy Chesapeake, VA.
    What are key features of this property?
    This property features: Gut‑renovated masonry building with new office/showroom and glass storefront.; Boasts ±18,196 SF total size with ±12,943 SF warehouse.; Features seven (7) drive‑in doors.
    (757) 478-9626 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Chamie Burroughs
    Chamie Burroughs
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!