Restaurant Business with
For Sale
$230,000
1437 Sam's Drive, Chesapeake, VA 23320
Commercial/Industrial, Chesapeake, VA
Property Size1,500 SF
Lot Size5.79 Acres
Price / SF$153.33
Days on Market131
Property Features for 1437 Sam's Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
GREENBRIER
Standard status
Active
Size
1,500 SF
Lot size
5.79 Acres
Utilities
Cooling system
Central Air
Building Details
Roof type
Shingle
Listing Agency:
Sunrise Real Estate Group
Listed By:
Senel Cuce
(757) 805-2286
Added: Jun 12
Changed: Oct 12
Last Checked: Oct 20 at 1:06AM
MLS# 10639627
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.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The restaurant business occupies 1,500 square feet and includes existing equipment, subject to the agreed inventory. The space has central air conditioning and a shingle roof.
The lease extends through 2030. Restaurant service includes dining on-site, carryout, delivery, and catering.
The lease extends through 2030. Restaurant service includes dining on-site, carryout, delivery, and catering.
Key Highlights
- 1,500‑square‑foot restaurant space
- Existing equipment included, subject to the agreed inventory
- Lease secured through 2030
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,760
Cap Rate
7.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$335,200
$335.2K
Cap Rate 7%
$239,429
$239.4K
Cap Rate 9%
$186,222
$186.2K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$23.4K $15.60/SF
− Vacancy
−$1.1K −$0.70/SF
EGI
$22.3K $14.90/SF
− OpEx
−$5.6K −$3.72/SF
NOI
$16.8K $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 Rate 5%
$335,200
Cap Rate 7%
$239,429
Cap Rate 9%
$186,222
Alternative Uses
Best Use
Specialty Retail
$239.4K
$209.5K – $279.3K
NOI $16,760 @ 7.0% cap · market cap 7.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$443.3K
$387.9K – $517.2K
NOI $31,032 @ 7.0% cap · market cap 13.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
272
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23320, VA
60,412
Population
26,131
Households
2.3
Avg Household Size
39
Median Age
38%
College-Educated
93%
High-School Grad
31.7 sq mi
ZIP Area
1,906
Density / Sq Mi
$81,736
Median Household Income
$49,403
Median Earnings
$1,654
Median Rent
$323,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The operation supports on-site dining, carryout, delivery, and catering.
Where is this conventional restaurant located?
The property is located at 1437 Sam's Drive Chesapeake, VA.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: 1,500‑square‑foot restaurant space; Existing equipment included, subject to the agreed inventory; Lease secured through 2030
