Commercial Kitchens with
For Sale
$330,000
1410 Poindexter St, Chesapeake, VA 23324
Food-production building with included land, equipment, rear and side parking, and second-floor office space.
Property Size1,992 SF
Price / SF$165.66
Days on Market16
Property Features for 1410 Poindexter St
General Information
Standard status
Active
Size
1,992 SF
Additional Details
Road Access
Yes
Building Details
Year Built
1920
Listing Agency:
Long & Foster Real Estate Inc.
(888) 536-0216
Listed By:
Betty Boyd
Source:
Veritygroup
Added: Aug 14
Changed: Aug 28
Last Checked: Aug 28 at 11:54AM
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.
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,258
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.74%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
NOI $22,258 @ 7.0% cap · market cap 6.74%
Second Best
Industrial
$126.5K
$110.7K – $147.6K
NOI $8,855 @ 7.0% cap · market cap 2.68%
Theoretical Best
Office A
$588.7K
$515.1K – $686.8K
NOI $41,210 @ 7.0% cap · market cap 12.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
