Freestanding Restaurant with
440 Chestnut Street Portsmouth, VA 23704
New
440 Chestnut Street, Portsmouth, VA, 23704
$1,200,000
For Sale
$1,200,000
Freestanding restaurant building with drive-through on a 0.80-acre lot, offering high visibility near key road access.
Property Size2,648 SF
Lot Size0.80 Acres
Price / SF$453.17
Days on Market7
Property Features for 440 Chestnut Street
General Information
- Standard status
- Active
- Size
- 2,648 SF
- Lot size
- 0.80 Acres
- Property subtype
- Retail
Listing agency
(804) 201-2026
Listed by
Pam Strieffler
(804) 201-2026
Source
Cbre
Added: Jul 17 Updated: Jul 22 at 6:49PM Checked: Jul 23 at 5:44AM
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 Pam Strieffler
Investment Insights
Based on property information with market context.
This freestanding restaurant building totals 2,648 square feet and includes a convenient drive-through. The property sits on a 0.80-acre lot and is presented as an easy-to-operate site for restaurant use.
The location provides close proximity to London Boulevard and Interstate 264, supporting straightforward access for both customers and deliveries. The site is also described as having excellent visibility.
Offered for sale, this asset combines a dedicated drive-through component with a standalone building configuration on its own lot.
The location provides close proximity to London Boulevard and Interstate 264, supporting straightforward access for both customers and deliveries. The site is also described as having excellent visibility.
Offered for sale, this asset combines a dedicated drive-through component with a standalone building configuration on its own lot.
Key Highlights
- Freestanding building offering 2,648 SF
- Drive‑thru included
- Situated on a 0.80‑acre lot
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.0k | $18.12 |
| − Vacancy | −$2.0k | −$0.76 |
| EGI | $46.0k | $17.36 |
| − OpEx | −$11.5k | −$4.34 |
| NOI | $34.5k | $13.02 |
2,648 SF · lease $18.12/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$492.5K
$430.9K – $574.6K
NOI $34,475 @ 7.0% cap · market cap 2.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$843.0K
$737.7K – $983.5K
NOI $59,012 @ 7.0% cap · market cap 4.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
KFC
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Drive through restaurant - Freestanding restaurant building with drive-through on a 0.80-acre lot, offering high visibility near key road access.
Where is this drive through restaurant located?
The property is located at 440 Chestnut Street Portsmouth, VA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Freestanding building offering 2,648 SF; Drive‑thru included; Situated on a 0.80‑acre lot
