Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Centerville Turnpike Land Parcel Title is generated by Realmo AI

    413 Centerville N Turnpike, Chesapeake, VA 23320

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,275,000

    Land parcel at signalized intersection, owner financing considered.

    Type:Commercial/Industrial
    Lot size:
    163.98 Acres
    Added:
    Mar 24, 2026
    Days on Market:
    47
    Last Refresh:
    Feb 10 at 7:56 am

    Property Features for 413 Centerville N Turnpike

    General Information

    Standard status
    Active
    Lot size
    163.98 Acres
    Property subtype
    Commercial/Industrial

    We can help!

    Listing Contact
    John R. Gobble III
    John R. Gobble III

    Listing agent John R. Gobble III

    Listing office Howard Hanna Real Estate Svcs.

    Listing date Mar 24, 2026

    Source Exitrealty

    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 Howard Hanna Real Estate Svcs.

    HighLights

    • Seller will consider owner financing.
    • Located at the intersection of Centerville Turnpike and Butts Station Road.
    • Intersection has a traffic signal.
    • Road frontage available.
    • Mix of road frontage and wetlands.
    • Parcel of land.

    Overview

    This parcel is a mix of road frontage and wetlands. The property is located at the intersection of Centerville Turnpike and Butts Station Road. The intersection has a traffic signal. The seller will consider owner financing.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Casual Home Furniture Furniture & Home Goods Mitra Eshghi Pharmacy

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Chesapeake
    County
    Chesapeake
    State
    Virginia
    Longitude
    -76.1869228
    Latitude
    36.7332061

    Nearby Similar for Sale

    • $700,000

      Versatile Chesapeake Medical/Professional Office

      Adaptable office space in a desirable Chesapeake location.
      3808 POPLAR HILL Road, CHESAPEAKE, VA 23321
      View Details
    • $450,000

      Lakefront Lot in Luxury Community

      Vacant lakefront lot in established luxury home community.
      341 Scone Castle Loop, Chesapeake, VA 23322
      View Details
    • $70,000

      Chesapeake Vacant Industrial Land Parcel

      Vacant M-2 zoned land parcel in Chesapeake, Virginia.
      435 Freeman Avenue, Chesapeake, VA 23324
      View Details
    • $275,000

      Residential Land in Hickory District

      4.61-acre parcel in Chesapeake's desirable Hickory school district.
      1916 Land Of Promise Road, Chesapeake, VA 23322
      View Details
    • $399,900

      Chesapeake Farmland in Hickory Area

      20.054 acres of raw farmland in southern Chesapeake, Virginia.
      Buskey Road lot: C, Chesapeake, VA 23322
      View Details
    • $439,900

      Chesapeake Farmland in Hickory Area

      27.232 acres of raw farmland in southern Chesapeake.
      Buskey Road lot: D, Chesapeake, VA 23322
      View Details
    • $239,900
      2,345 SF

      Chesapeake Duplex Investment Opportunity

      Duplex in South Norfolk with income potential near major interstates.
      1136 Jackson Avenue, Chesapeake, VA 23324
      View Details
    • $75,000

      Chesapeake Land Opportunity

      Two B1-zoned lots in South Norfolk, Chesapeake.
      1427 Atlantic Avenue, Chesapeake, VA 23324
      View Details
    • $495,000

      Commercial Land in Chesapeake, VA

      1.262 acres zoned B-2 in Chesapeake, Virginia.
      1601 Cahoon Parkway, Chesapeake, VA 23322
      View Details
    • $55,000

      Waterfront Land in Chesapeake, VA

      Building lot in Chesapeake with waterfront and city utilities.
      1208 Railroad Avenue, Chesapeake, VA 23324
      View Details
    • $259,900
      1,790 SF

      Chesapeake Duplex on Corner Lot

      Two-story duplex on a large corner lot in Chesapeake, VA.
      1101 Park Avenue, Chesapeake, VA 23324
      View Details
    • $495,000

      Commercial Land in Chesapeake, VA

      1.262 acres of commercial land for sale.
      1601 Cahoon Parkway | Chesapeake, VA 23322
      View Details

    FAQs

    What type of property is this?
    Commercial land - Land parcel at signalized intersection, owner financing considered.
    Where is this commercial land located?
    The property is located at 413 Centerville N Turnpike Chesapeake, VA.
    What is the asking price?
    The asking price for this property is $1,275,000.
    What are key features of this property?
    This property features: Seller will consider owner financing.; Located at the intersection of Centerville Turnpike and Butts Station Road.; Intersection has a traffic signal.
    (757) 428-3516
    We can help!
    Listing Contact
    John R. Gobble III
    John R. Gobble III
    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

    Thank You for Inquiry
    413 Centerville N Turnpike, Chesapeake, VA 23320
    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!