Dollar General Retail
1435 Bainbridge Blvd, Chesapeake, VA 23324
For Sale
$1,021,000
A corporately guaranteed retail tenancy has operated at this South Norfolk location since 2004.
Property Size8,125 SF
Price / SF$125.66
Days on Market49
Property Features for 1435 Bainbridge Blvd
General Information
Standard status
Size
Property subtype
Lease Type
Site & Location
Neighborhood
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
Listing Agency:
Marcus & Millichap - Atlanta
Listed By:
Don McMinn
(678) 808-2762
Source:
Marcusmillichap
Added: Sep 26
Changed: Nov 9
Last Checked: Nov 12 at 4:19AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$76,832
Cap Rate
7.53%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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
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
