Manufacturing Property with Office
For Sale
$330,000
1410 Poindexter Street, Chesapeake, VA 23324
Commercial/Industrial, Chesapeake, VA
Property Size1,992 SF
Lot Size0.10 Acres
Price / SF$165.66
Days on Market9
Property Features for 1410 Poindexter Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B5
Parking features
Off Street
Subdivision
SOUTH NORFOLK
Standard status
Active
Size
1,992 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
1300
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Amenities
conference room
Building Details
Year built
1920
Roof type
Metal, Shingle
Listing Agency:
Long & Foster Real Estate Inc.
(757) 428-4600
Listed By:
Betty Boyd
Added: Aug 12
Changed: Aug 20
Last Checked: Aug 20 at 6:06PM
MLS# 10648841
Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 1410 Poindexter Street in Chesapeake, this 1,992-square-foot manufacturing property includes the building, land, equipment, and an additional parcel. The property was previously used for candy and pudding production and has been certified by the Board of Health. A second-floor area provides office and conference room space, while heat pump heating and central air serve the building. The roof includes metal and shingle sections, and the property was built in 1920.
Off-street parking is available at the rear and along Phillip Street. The 0.102-acre lot is included in the sale, and the property is zoned B5. No lease is currently in place.
Off-street parking is available at the rear and along Phillip Street. The 0.102-acre lot is included in the sale, and the property is zoned B5. No lease is currently in place.
Key Highlights
- 1,992‑square‑foot manufacturing property with building, land, and equipment included
- Previously used for candy and pudding manufacturing
- Second‑floor offices 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?
Manufacturing property - Food-production building with upper-level offices, conference space, equipment, and off-street parking.
Where is this manufacturing property located?
The property is located at 1410 Poindexter Street 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 manufacturing property with building, land, and equipment included; Previously used for candy and pudding manufacturing; Second‑floor offices and conference room space
