Dollar General Retail
New
For Sale
$1,021,000
1435 Bainbridge Blvd, Chesapeake, VA 23324
A corporately guaranteed retail tenancy has operated at this South Norfolk location since 2004.
Property Size8,125 SF
Price / SF$125.66
Days on Market1
Property Features for 1435 Bainbridge Blvd
General Information
Standard status
Active
Size
8,125 SF
Property subtype
Discount
Lease Type
NN
Amenities
LOW RENT & PRICE POINT DOLLAR GENERAL
CHESAPEAKE, VA | SUPERIOR DEMOGRAPHICS: 255,000+ PEOPLE WITHIN FIVE-MILE RADIUS
INTERSTATE LOCATION | 48,000+ VPD
NEAR NORFOLK NAVAL SHIPYARD | 12,000+ MILITARY & CIVILIAN PERSONNEL
INVESTMENT-GRADE TENANT | S&P: BBB | CORPORATE GUARANTEE
20+ YEARS OF OPERATING HISTORY | CORPORATE-GUARANTEED BY DOLLAR GENERAL
Building Details
Building Size
8,125 SF
Listing Agency:
Marcus & Millichap - Atlanta
Listed By:
Don McMinn · License #License(s): GA: 292036
(678) 808-2762
Source:
Marcusmillichap
Added: Sep 26
Last Checked: Sep 26 at 3:07PM
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 Marcus & Millichap - Atlanta
Investment Insights
Based on property information with market context.
The 8,125-square-foot retail property is occupied by Dollar General, which has operated at this location since 2004. Dollar General Corporation guarantees the lease and carries an S&P BBB credit rating. The lease includes a five-year option period through March 31, 2030, followed by one additional five-year renewal option. Annual rent figures are not included here.
At Bainbridge Boulevard and Holly Avenue in Chesapeake, the property is less than half a mile from I-464, which carries approximately 48,000 vehicles per day. Norfolk Naval Shipyard is less than one mile away and employs approximately 12,000 military and civilian personnel. The surrounding five-mile area has a population of more than 255,000.
At Bainbridge Boulevard and Holly Avenue in Chesapeake, the property is less than half a mile from I-464, which carries approximately 48,000 vehicles per day. Norfolk Naval Shipyard is less than one mile away and employs approximately 12,000 military and civilian personnel. The surrounding five-mile area has a population of more than 255,000.
Key Highlights
- 8,125‑square‑foot retail property occupied by Dollar General
- Dollar General has operated at this location since 2004
- Lease guarantee from Dollar General Corporation, rated BBB by S&P
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
$76,832
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
7.53%
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%
$1,536,640
$1.5M
Cap Rate 7%
$1,097,600
$1.1M
Cap Rate 9%
$853,689
$853.7K
Market Conditions
NOI Build-Up for 8,125 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
$116.0K $14.28/SF
− Vacancy
−$6.3K −$0.77/SF
EGI
$109.8K $13.51/SF
− OpEx
−$32.9K −$4.05/SF
NOI
$76.8K $9.46/SF
Area
Chesapeake, VA
Vacancy
5.40%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
30.00%
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%
$1,536,640
Cap Rate 7%
$1,097,600
Cap Rate 9%
$853,689
Alternative Uses
Best Use
Retail
$1.10M
$960.4K – $1.28M
NOI $76,832 @ 7.0% cap · market cap 7.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $168,090 @ 7.0% cap · market cap 16.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
10k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 95%
Dining 5%
7-Eleven
Shops & Services
4,951 visits/mo
0.4 miles
Dollar General
Shops & Services
4,820 visits/mo
0.0 miles
Pelican's SnoBalls
Dining
568 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - A corporately guaranteed retail tenancy has operated at this South Norfolk location since 2004.
Where is this retail space located?
The property is located at 1435 Bainbridge Blvd Chesapeake, VA.
What is the asking price?
The asking price for this property is $1,021,000.
What are key features of this property?
This property features: 8,125‑square‑foot retail property occupied by Dollar General; Dollar General has operated at this location since 2004; Lease guarantee from Dollar General Corporation, rated BBB by S&P
