Warehouse with Fenced
New
For Sale
$600,000
615 Chautauqua Ave, Portsmouth, VA 23707
Light industrial zoning and three-phase power support the property’s warehouse configuration.
Property Size8,206 SF
Lot Size0.44 Acres
Price / SF$73.12
Days on Market3
Property Features for 615 Chautauqua Ave
General Information
Standard status
Active
Size
8,206 SF
Lot size
0.44 Acres
Property subtype
Industrial
Zoning
IL
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
11 ft
Drive-In Doors
5
Three-Phase Power
Yes
Amenities
3-phase power
grade-level doors
Building Details
Building Size
8,206 SF
Listing Agency:
Norfolk - Main
Listed By:
Pat Mugler
(757) 228-1831
Source:
Colliers
Added: Oct 12
Changed: Oct 13
Last Checked: Oct 13 at 2:31AM
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 Norfolk - Main
Investment Insights
Based on property information with market context.
The warehouse contains approximately 8,206 SF, including a small office area, and sits on an approximately 0.44-acre parcel enclosed by fencing. Improvements include three-phase power, five 10-foot-by-10-foot grade-level doors, and 11 feet of clear height. The property is zoned IL (Light Industrial) and was formerly used as a tire facility.
In Portsmouth’s Port Norfolk area, the site is near Portsmouth Marine Terminal and offers access to VA-164, US-58, and US-17. The parcel is identified as 01200080.
In Portsmouth’s Port Norfolk area, the site is near Portsmouth Marine Terminal and offers access to VA-164, US-58, and US-17. The parcel is identified as 01200080.
Key Highlights
- Approximately 8,206 SF of building area on approximately 0.44 acres
- Five 10' x 10' grade‑level doors
- 11' clear height in the warehouse
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,850
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$997,000
$997.0K
Cap Rate 7%
$712,143
$712.1K
Cap Rate 9%
$553,889
$553.9K
Market Conditions
NOI Build-Up for 8,206 SF
Gross rent
$73.1K $8.91/SF
− Vacancy
−$1.9K −$0.23/SF
EGI
$71.2K $8.68/SF
− OpEx
−$21.4K −$2.60/SF
NOI
$49.9K $6.07/SF
Area
Portsmouth County, VA
Vacancy
2.60%
Lease Rate
$8.91 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$997,000
Cap Rate 7%
$712,143
Cap Rate 9%
$553,889
Alternative Uses
Best Use
Retail
$1.55M
$1.35M – $1.80M
NOI $108,276 @ 7.0% cap · market cap 18.05%
Second Best
Warehouse
$864.7K
$756.7K – $1.01M
NOI $60,532 @ 7.0% cap · market cap 10.09%
Theoretical Best
Office A
$2.61M
$2.29M – $3.05M
NOI $182,874 @ 7.0% cap · market cap 30.48%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
11 ft
Clear height
5
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
281
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23707, VA
14,316
Population
7,216
Households
2
Avg Household Size
36
Median Age
26%
College-Educated
87%
High-School Grad
3.9 sq mi
ZIP Area
3,671
Density / Sq Mi
$51,070
Median Household Income
$37,932
Median Earnings
$1,076
Median Rent
$222,100
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- Ison Distribution Services LLC — 500 CONFEDERATE AVE, 2401 High St, Portsmouth, VA 23704
- Stewart Moving & Storage — 830 Douglas Ave, Portsmouth, VA 23707
Frequently Asked Questions
What type of property is this?
Warehouse - Light industrial zoning and three-phase power support the property’s warehouse configuration.
Where is this warehouse located?
The property is located at 615 Chautauqua Ave Portsmouth, VA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Approximately 8,206 SF of building area on approximately 0.44 acres; Five 10' x 10' grade‑level doors; 11' clear height in the warehouse
