Mediterranean Restaurant
1437 Sam's Drive, Chesapeake, VA 23320
For Sale
$230,000
Commercial/Industrial, Chesapeake, VA
Property Size1,500 SF
Lot Size5.79 Acres
Price / SF$153.33
Days on Market152
Property Features for 1437 Sam's Drive
General Information
Property type
Property subtype
Subdivision
Standard status
Size
Lot size
Tenancy & Operations
Currently Operating
Business Included
Utilities
Cooling system
Building Details
Roof type
Listing Agency:
Sunrise Real Estate Group
Listed By:
Senel Cuce
(757) 805-2286
Added: Jun 12
Changed: Nov 7
Last Checked: Nov 10 at 6:06PM
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.
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.
This 1,500-square-foot Mediterranean restaurant business is offered with its existing equipment, subject to the agreed inventory. The operation serves customers through dine-in, takeout, delivery, and catering. Central air conditioning is installed, and the business operates from a space with a shingle roof.
Located at 1437 Sam's Drive in Chesapeake, the restaurant has a lease secured through 2030. The sale concerns the business and its equipment.
Located at 1437 Sam's Drive in Chesapeake, the restaurant has a lease secured through 2030. The sale concerns the business and its equipment.
Key Highlights
- 1,500‑square‑foot restaurant business
- Existing equipment included, subject to agreed inventory
- Dine‑in, takeout, delivery, and catering channels
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 sale includes an operating business with dine-in, takeout, delivery, and catering channels.
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 business; Existing equipment included, subject to agreed inventory; Dine‑in, takeout, delivery, and catering channels
