Listing Agency: Colliers | Norfolk Show Phone

Listed By: Chris Read Show Phone

Source: Moodyscre

Added: Jul 16, 2025 Changed: Jul 26 Last Checked: Jul 29 at 2:41PM

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Investment Insights

Based on property information with market context.

The subject property is a freestanding former drug store building with drive-thru service and generally good condition. The building features a grade-level roll-up door, along with building signage and pylon signage.

The property is located at the signalized intersection of Atlantic Avenue and Campostella Road and is adjacent to a busy Food Lion center. The surrounding retail area includes nearby names such as Dollar General, CVS, Dollar Tree, and AutoZone, providing an active commercial corridor.

Designed as a standalone storefront, the site is positioned for direct customer access from the intersection while maintaining dedicated drive-thru functionality.

Key Highlights

• Freestanding former drug store building with drive‑thru
• Located at a signalized intersection of Atlantic Avenue and Campostella Road
• Excellent visibility along Atlantic Avenue

Property Analytics

Current Use

Rite Aid Pharmacy Pharmacy Rite Aid Pharmacy Redbox Cinema Western Union Bank John Parker Pharmacy

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Restaurant Building Supply Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Drive-in doors

NNN (Triple Net)

Lease Type

$3.15 /SF/Yr

CAM

Location Intelligence

Trade Area within ½ mile

341

Businesses Nearby

54k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Groceries 53% Shops & Services 35% Dining 8% Electronics 5%

Food Lion Grocery Store Groceries

28,378 visits/mo 0.1 miles

Dollar General Shops & Services

9,232 visits/mo 0.2 miles

AutoZone Shops & Services

5,336 visits/mo 0.1 miles

Citgo Shops & Services

4,050 visits/mo 0.2 miles

Boost Mobile Electronics

2,468 visits/mo 0.1 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

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Drug store - Former drug store with a drive-thru and grade-level roll-up door at a signalized intersection.

Where is this drug store located?

The property is located at 2040 Atlantic Ave Chesapeake, VA.

What is the lease rate?

The lease rate is $21 SF/Yr.

What are key features of this property?

This property features: Freestanding former drug store building with drive‑thru; Located at a signalized intersection of Atlantic Avenue and Campostella Road; Excellent visibility along Atlantic Avenue