Single-Tenant Bank
For Sale
Contact for pricing
201 VOLVO PKWY, Chesapeake, VA 23320
Operating under a long-term NNN lease with corporate backing and no landlord responsibilities.
Property Size5,517 SF
Price / SF$901.11
Days on Market15
Property Features for 201 VOLVO PKWY
General Information
Standard status
Active
Size
5,517 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute NNN
Investment Type
Net Lease
Net Operating Income
$313,200
Site & Location
Traffic Count
25,000 vehicles/day
Highway Access
Yes
Building Details
Year Built
1988
Buildings
1
Stories
20
Units
1
Tenancy
Single
Listing Agency:
The Boulder Group
(888) 737-2264
Listed By:
Jimmy Goodman · License #IL 471007006
Source:
Crexi
Added: Jul 27
Changed: Aug 9
Last Checked: Aug 9 at 2:51PM
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 The Boulder Group
Investment Insights
Based on property information with market context.
The property is a 5,517-square-foot bank building constructed in 1988 and occupied by Atlantic Union Bank. The lease is structured on a long-term NNN basis through December 2040, includes 1.50% annual rent escalations during the primary term, and provides two 5-year renewal options with 2.00% annual increases. Landlord responsibilities are identified as zero, and the lease carries a corporate guarantee from Atlantic Union Bankshares Corporation. The tenant maintains a KBRA: A- investment grade credit rating.
Located at 201 Volvo Pkwy in Chesapeake’s Greenbrier submarket, the property fronts a corridor carrying approximately 25,000 VPD. Greenbrier Parkway accommodates approximately 72,000 VPD, with direct Interstate 64 access at Exit 289. The site is adjacent to Summit Pointe and the Sentara Greenbrier HealthPlex, with Greenbrier Mall and Greenbrier MarketCenter nearby. More than 212,000 residents live within a 5-mile radius, with average household income exceeding $106,000.
Located at 201 Volvo Pkwy in Chesapeake’s Greenbrier submarket, the property fronts a corridor carrying approximately 25,000 VPD. Greenbrier Parkway accommodates approximately 72,000 VPD, with direct Interstate 64 access at Exit 289. The site is adjacent to Summit Pointe and the Sentara Greenbrier HealthPlex, with Greenbrier Mall and Greenbrier MarketCenter nearby. More than 212,000 residents live within a 5-mile radius, with average household income exceeding $106,000.
Key Highlights
- 5,517‑square‑foot bank building constructed in 1988
- Long‑term NNN lease in place through December 2040
- 1.50% annual rent escalations during the remaining primary term
Property Analytics
Current Use
Lease Details
25,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
928
Businesses Nearby
680k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Superstores 17%
Home Improvements & Furnishings 15%
Shops & Services 15%
Sam's Club
Superstores
114,108 visits/mo
0.4 miles
Lowe's
Home Improvements & Furnishings
51,121 visits/mo
0.3 miles
Chick-fil-A
Dining
48,524 visits/mo
0.4 miles
The Home Depot
Home Improvements & Furnishings
47,955 visits/mo
0.4 miles
Dollar Tree
Shops & Services
33,618 visits/mo
0.4 miles
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Operating under a long-term NNN lease with corporate backing and no landlord responsibilities.
Where is this bank located?
The property is located at 201 VOLVO PKWY Chesapeake, VA.
What is the asking price?
The asking price for this property is $4,971,424.
What are key features of this property?
This property features: 5,517‑square‑foot bank building constructed in 1988; Long‑term NNN lease in place through December 2040; 1.50% annual rent escalations during the remaining primary term
