Renovated Office
548 S Battlefield Blvd #B, Chesapeake, VA 23322
For Sale
New
Contact for pricing
The suite offers a reception area, a private office, and flexible space for meetings or additional workspace.
Property Size800 SF
Price / SF$1.63
Days on Market1
Property Features for 548 S Battlefield Blvd #B
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Additional Details
Condition
Property Use
Building Details
Building Size
Year Built
Units
Tenancy
Listing Agency:
Dalton Wade Inc
(888) 668-8283
Listed By:
Robert Johnson
Source:
Hoggerealestate
Added: Nov 10
Last Checked: Nov 10 at 2:26PM
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 Dalton Wade Inc
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Investment Insights
Based on property information with market context.
This 800-square-foot office unit includes a reception area, one private office, and flexible space that can accommodate a conference room. Renovation work has been completed, and the property dates to 1971. The O-I zoning designation supports the office classification.
The suite is at 548 S Battlefield Blvd in Chesapeake’s Great Bridge Corridor. A separate suite in the same building is also available as shared office space.
The suite is at 548 S Battlefield Blvd in Chesapeake’s Great Bridge Corridor. A separate suite in the same building is also available as shared office space.
Key Highlights
- 800‑square‑foot office suite
- Reception area and private office
- Flexible area suitable for a conference room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,240
Suggested Prices Based on Cap Rates
Cap Rate 5%
$244,800
$244.8K
Cap Rate 7%
$174,857
$174.9K
Cap Rate 9%
$136,000
$136.0K
Market Conditions
NOI Build-Up for 800 SF
Gross rent
$19.2K $24.00/SF
− Vacancy
−$2.9K −$3.60/SF
EGI
$16.3K $20.40/SF
− OpEx
−$4.1K −$5.10/SF
NOI
$12.2K $15.30/SF
Area
Chesapeake, VA
Vacancy
15.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$244,800
Cap Rate 7%
$174,857
Cap Rate 9%
$136,000
Alternative Uses
Best Use
Office B
$174.9K
$153.0K – $204.0K
NOI $12,240 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$236.4K
$206.9K – $275.8K
NOI $16,550 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
379
Businesses Nearby
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Business Placement
Demographics for 23322, VA
66,994
Population
22,386
Households
3
Avg Household Size
40
Median Age
42%
College-Educated
95%
High-School Grad
187.8 sq mi
ZIP Area
357
Density / Sq Mi
$133,522
Median Household Income
$55,549
Median Earnings
$1,870
Median Rent
$448,000
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - The suite offers a reception area, a private office, and flexible space for meetings or additional workspace.
Where is this office unit located?
The property is located at 548 S Battlefield Blvd #B Chesapeake, VA.
What are key features of this property?
This property features: 800‑square‑foot office suite; Reception area and private office; Flexible area suitable for a conference room
