Single-Story Office Building with Pylon
3204 Churchland Boulevard Chesapeake, VA 23321
For Sale
$1,040,000
Renovated 1995 single-story office building with flexible medical or professional use, ample parking, and pylon signage.
Property Size4,840 SF
Price / SF$214.88
Days on Market23
Property Features for 3204 Churchland Boulevard
General Information
- Standard status
- Active
- Size
- 4,840 SF
- Property subtype
- Office
Listing Agency:
CBRE | Norfolk
(757) 364-6441
Listed By:
Jeff Parker, CCIM
(757) 364-6441
Source:
Cbre
Added: Jul 3
Changed: Jul 10
Last Checked: Jul 25 at 3:38AM
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 CBRE | Norfolk
Investment Insights
Based on property information with market context.
Built in 1995 and fully renovated in 2021, this single-story office building offers a flexible layout configured with 14 private offices, a conference room, two restrooms, a kitchen, a stock room, and an open area for additional workspace. The property sits on an approximate 1.24-acre site with excess land that can support future expansion and includes all utilities on site.
The building is located in the Churchland submarket of Chesapeake, a few miles from Northern Suffolk, with convenient highway access in a suburban setting. Visibility is supported by pylon signage, and the site offers ample parking for tenant and visitor use.
The interior configuration is well-suited for medical users or professional office tenants seeking a predominantly office-focused plan. Zoned O-I, the building may also be attractive to investors or owner-operators looking for a commercial property with a current tenant in place through 3/31/27, with the tenant paying operating expenses. Please note: all rent and operating expense details are as stated in the listing remarks.
The building is located in the Churchland submarket of Chesapeake, a few miles from Northern Suffolk, with convenient highway access in a suburban setting. Visibility is supported by pylon signage, and the site offers ample parking for tenant and visitor use.
The interior configuration is well-suited for medical users or professional office tenants seeking a predominantly office-focused plan. Zoned O-I, the building may also be attractive to investors or owner-operators looking for a commercial property with a current tenant in place through 3/31/27, with the tenant paying operating expenses. Please note: all rent and operating expense details are as stated in the listing remarks.
Key Highlights
- ±4,840 SF single‑story office building on a ±1.24‑acre site with excess land for expansion
- Built in 1995 and fully renovated in 2021
- 14 private offices plus a conference room, two restrooms, kitchen, stock room, and open area
Financial Insights For Office B
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 | $116.2k | $24.00 |
| − Vacancy | −$17.4k | −$3.60 |
| EGI | $98.7k | $20.40 |
| − OpEx | −$24.7k | −$5.10 |
| NOI | $74.1k | $15.30 |
4,840 SF · lease $24.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.06M
$925.7K – $1.23M
NOI $74,052 @ 7.0% cap · market cap 7.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,130 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
PG Harris Construction ...
General Contractor
P G Harris ...
Construction Company
FAQs
What type of property is this?
Office building - Renovated 1995 single-story office building with flexible medical or professional use, ample parking, and pylon signage.
Where is this office building located?
The property is located at 3204 Churchland Boulevard Chesapeake, VA.
What is the asking price?
The asking price for this property is $1,040,000.
What are key features of this property?
This property features: ±4,840 SF single‑story office building on a ±1.24‑acre site with excess land for expansion; Built in 1995 and fully renovated in 2021; 14 private offices plus a conference room, two restrooms, kitchen, stock room, and open area
