Building Details

Year Built 1920

Listing Agency: Long & Foster Real Estate Inc.

Listed By: Betty Boyd Show Phone

Source: Veritygroup

Added: Aug 14 Changed: Oct 5 Last Checked: Oct 7 at 1:45PM

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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 Long & Foster Real Estate Inc.

Investment Insights

Based on property information with market context.

This commercial kitchen property includes the building, land, an additional parcel, and equipment. The 1,992-square-foot structure was built in 1920 and includes second-floor office and conference room space. The property has been certified by the Board of Health, and the equipment list is attached to the offering materials.

Parking is available at the rear and along the side street, Phillip Street. The sale includes the building, land, and equipment, with no lease currently in place. The property was previously used for candy and pudding manufacturing.

Key Highlights

• 1,992‑square‑foot commercial kitchen building constructed in 1920
• Building, land, additional parcel, and equipment included in the sale
• Second floor contains office and conference room space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,258

Cap Rate

6.74%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$445,160 $445.2K

Cap Rate 7%

$317,971 $318.0K

Cap Rate 9%

$247,311 $247.3K

Market Conditions

NOI Build-Up for 1,992 SF

Gross rent

$31.1K $15.60/SF

− Vacancy

−$1.4K −$0.70/SF

EGI

$29.7K $14.90/SF

− OpEx

−$7.4K −$3.72/SF

NOI

$22.3K $11.17/SF

Area

Chesapeake, VA

Vacancy

4.50%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$445,160

Cap Rate 7%

$317,971

Cap Rate 9%

$247,311

Alternative Uses

Best Use

Specialty Retail

$318.0K

$278.2K – $371.0K (±1% cap)

NOI $22,258 @ 7.0% cap · market cap 6.74%

Second Best

Industrial

$126.5K

$110.7K – $147.6K (±1% cap)

NOI $8,855 @ 7.0% cap · market cap 2.68%

Theoretical Best

Office A

$588.7K

$515.1K – $686.8K (±1% cap)

NOI $41,210 @ 7.0% cap · market cap 12.49%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Jireh Publishers Publishing House

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Restaurant Spa & Massage Center Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

451

Businesses Nearby

Explore this area Business Placement

Demographics for 23324, VA

24,239

Population

9,834

Households

2.5

Avg Household Size

34

Median Age

21%

College-Educated

88%

High-School Grad

6.7 sq mi

ZIP Area

3,618

Density / Sq Mi

$57,774

Median Household Income

$39,642

Median Earnings

$1,145

Median Rent

$242,000

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this commercial kitchens located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Commercial kitchen - Food-production building with included land, equipment, rear and side parking, and second-floor office space.

Where is this commercial kitchen located?

The property is located at 1410 Poindexter St Chesapeake, VA.

What is the asking price?

The asking price for this property is $330,000.

What are key features of this property?

This property features: 1,992‑square‑foot commercial kitchen building constructed in 1920; Building, land, additional parcel, and equipment included in the sale; Second floor contains office and conference room space