Property profile

1601 Cahoon Pkwy Chesapeake, VA 23322

FOR SALE
Commercial land
Property ID
US87-2253280
1.26 ac lot
Entity Owned 6-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 1.26-acre commercial land parcel presents a remarkable investment opportunity in Chesapeake, Virginia. Located at 1601 Cahoon Parkway, this property boasts a highly desirable B-2, General Commercial zoning designation, offering a wide range of development possibilities. The site features 171 feet of frontage on Cahoon Parkway, providing excellent visibility and accessibility. Its strategic location within the Grassfield section of Chesapeake places it in close proximity to key amenities and infrastructure. Neighboring properties include the Cahoon Plantation Golf Course, a Walmart Supercenter, other new retail developments, and a substantial 247-unit residential townhouse development, ensuring high traffic and a thriving commercial environment. The property benefits from convenient access to major transportation arteries, including Route 17, Dominion Boulevard, Cedar Road, and Interstate 64, facilitating seamless connectivity throughout the region. Utilities are readily available, with water, sewer, electrical, gas, and telephone services accessible to the site. This prime location and versatile zoning make this 1.26-acre parcel an ideal platform for a diverse range of commercial ventures, promising significant return on investment. The asking price for this exceptional property is $495,000. The zip code is 23322.

Property profile

Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Lot 1.26 ac (54,973 SF)
Zoning code B2: GENERAL BUSINESS
APN 460000001790
UPID US87-2253280

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

1601 Cahoon Pkwy Chesapeake, VA 23322
Chesapeake metro Census 21014 VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

since 2020
Last sale
$150
2 recorded transactions
2020
$150
2016
$250,000

Zoning & alternative use

B2: GENERAL BUSINESS · Chesapeake, VA

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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More about this property
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