Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    700 Independence Pkwy Chesapeake, VA 23320

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Conditioned warehouse suites with roll-up doors for lease.

    Property size:
    22,495 SF
    Lot size:
    11.24 Acres

    Property Features for 700 Independence Pkwy

    General Information

    Size
    22,495 SF
    Lot size
    11.24 Acres

    We can help!

    Listing Contact
    Ricky Anderson
    Source: Moodyscre

    Listing Agent: Ricky Anderson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Conditioned Warehouse Space Available

    The property features conditioned warehouse space available in two suites. Suite 100 offers a warehouse space of 3,020 square feet with ceiling heights of approximately 17 feet 6 inches to the joist and approximately 19 feet 8 inches to the deck. Suite 500 provides a warehouse space of 6,079 square feet with ceiling heights of approximately 16 feet 8 inches to the joist and approximately 19 feet to the deck. The building is equipped with a wet pipe sprinkler system and has 480/277 volt, 2,000 amp service. Verizon Smart Park fiber-optic services and Cox Fibernet are available. The property is located at 700 Independence Parkway in Chesapeake, Virginia. The total property size is 24,250 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Emprise Corporation (Bike/Boat/Book/etc) Store Consumer Portfolio Services, ... Financial Advisor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Ocean Storage - Chesapeake, Near2Me Storage Units, Tuff Shipping Containers, Yatriv

    Location Insight

    • Map
    • Local Demand
    City
    Chesapeake
    County
    Chesapeake
    State
    Virginia
    Longitude
    -76.2573827
    Latitude
    36.7667962

    Nearby Similar for Lease

    • $1,800 /Mo
      1,500 SF

      Industrial Unit with Office Space

      Flex space with offices and bay area, easy highway access.
      3936 Holland Blvd, Chesapeake, VA 23323
      View Details
    • $900 /Mo
      436 SF

      Chesapeake Office Suite For Lease

      Functional office suite in a convenient Chesapeake location, move-in ready.
      3808 Poplar Hl Rd Unit, Chesapeake, VA 23321
      View Details
    • $900 /Mo
      871 SF

      Chesapeake Office Suite For Lease

      Versatile office suite in Chesapeake, ideal for small businesses.
      3808 Poplar Hl Rd Unit, Chesapeake, VA 23321
      View Details
    • $20 SF/Yr
      18,731 SF

      Commercial Space in Chesapeake, VA

      Commercial space for lease in a prime Chesapeake location.
      113 Great Bridge Blvd, Chesapeake, VA 23320
      View Details
    • Sponsored
      Contact for pricing

      Crossways Blvd

      Meet, work or collaborate in our professional The Pinnacle Building business center
      1545 Crossways Blvd, Chesapeake, VA 23320
      View Details
    • $1,200 /Mo

      Professional Office Suites For Rent

      Office suites in well-established Chesapeake office complex, 500-5,000 sqft.
      2010 Old Greenbrier Rd, Chesapeake, VA 23320
      View Details
    • $2,790 /Mo

      Modern Chesapeake Office Space Available

      Prime Chesapeake location with customizable office spaces and ample parking.
      1021 Eden Way N, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      Vibrant Shopping Center Near I-64

      Dynamic shopping center near Greenbrier Mall with ample parking.
      732 Eden Way North, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      Great Bridge Retail/Office Space

      Retail and office spaces in the heart of Great Bridge.
      800 S Battlefield Blvd, Chesapeake, VA 23322
      View Details
    • Contact for pricing

      Retail Space in Chesapeake Center

      Retail spaces available in established Chesapeake shopping center.
      717-729 S Battlefield Blvd, Chesapeake, VA 23322
      View Details
    • $28 SF/Yr

      Medical Office Space Available

      Medical office suites for lease in Chesapeake, Virginia.
      1933 Edwin Dr, Chesapeake, VA 23322
      View Details
    • $25 SF/Yr

      Greenbrier Medical Office Building

      Class A medical office space in the heart of Greenbrier.
      725 Volvo Pkwy, Chesapeake, VA 23320
      View Details

    FAQs

    What type of property is this?
    Warehouse - Conditioned warehouse suites with roll-up doors for lease.
    Where is this warehouse located?
    The property is located at 700 Independence Pkwy Chesapeake, VA.
    What are key features of this property?
    This property features: - Large warehouse spaces available: Suite 500 (6,079 RSF) and Suite 100 (3,020 RSF).; - **High ceilings** in both suites (+\/-16'-8" to +/-17'-6" to the joist; +/-19'-0" to +/-19'-8" to the deck).; - Conditioned warehouse space in both suites.
    (757) 490-3300 Call to check price and availability
    Request Owner's contact information
    700 Independence Pkwy Chesapeake, VA 23320
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    700 Independence Pkwy
    Chesapeake, VA 23320
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    700 Independence Pkwy Chesapeake, VA 23320
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Ricky Anderson
    (757) 490-3300 (757) 217-1892
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!