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Industrial Land with Waterfront Access
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960 & 969 Michael Dr, Chesapeake, VA 23323

M-1 Light Industrial land with utility service, waterfront access, and an established industrial setting.

Property SizeContact for details
Days on Market3

Property Features for 960 & 969 Michael Dr

General Information

Standard status Active
Property subtype Land
Listing Agency: Norfolk - Main
Listed By: Ben Anderson
Source: Colliers
Added: Sep 1 Last Checked: Sep 2 at 1:13PM

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 Norfolk - Main

Investment Insights

Based on property information with market context.

This offering comprises two industrial land parcels totaling 29.446 acres, with 22.333 acres at 960 Michael Drive and 7.113 acres at 969 Michael Drive. The property carries M-1 Light Industrial zoning and has existing water, sewer, gas, and electric service. A BMP is already in place, and the 969 Michael Drive parcel includes direct waterfront access with approximately 3' to 5' water depth.

The site is in Chesapeake's Gilmerton Industrial Park, near the Port of Virginia, major interstate connections, and the Hampton Roads industrial corridor. Neighboring users include Virginia Equipment & Development and Excel Paving Co. Addresses included in the offering are 960 and 969 Michael Dr, Chesapeake, VA 23323.

Key Highlights

  • Two parcels totaling 29.446 acres
  • 22.333 acres at 960 Michael Drive and 7.113 acres at 969 Michael Drive
  • M‑1 Light Industrial zoning

Property Analytics

Current Use

Waterfront Land

Suggested Use

Top Pick Real Estate Agency Law Firm Spa & Massage Center Restaurant Building Supply Gym & Fitness Center

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

Location Intelligence

Trade Area within ½ mile

260
Businesses Nearby

Demographics for 23323, VA

42,736
Population
15,064
Households
2.8
Avg Household Size
36
Median Age
35%
College-Educated
93%
High-School Grad
81.9 sq mi
ZIP Area
522
Density / Sq Mi
$105,912
Median Household Income
$50,523
Median Earnings
$1,590
Median Rent
$360,500
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
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Frequently Asked Questions

What type of property is this?
Industrial land - M-1 Light Industrial land with utility service, waterfront access, and an established industrial setting.
Where is this industrial land located?
The property is located at 960 & 969 Michael Dr Chesapeake, VA.
What are key features of this property?
This property features: Two parcels totaling 29.446 acres; 22.333 acres at 960 Michael Drive and 7.113 acres at 969 Michael Drive; M‑1 Light Industrial zoning
More about this property
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