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    Retail Space in Bayview Plaza Title is generated by Realmo AI

    7924 Chesapeake Blvd, Norfolk, VA

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    Retail space in established shopping center near Little Creek Base.

    Type:RETAIL
    Property size:
    25,816 SF
    Lot size:
    2.23 Acres
    Price / SF:
    $155/SF
    Added:
    Apr 2, 2025
    Days on Market:
    440
    Last Refresh:
    May 19 at 10:25 pm

    Property Features for 7924 Chesapeake Blvd

    General Information

    Standard status
    Active
    Size
    25,816 SF
    Lot size
    2.23 Acres
    Property subtype
    RETAIL

    Properties For Sale

    at 7924 Chesapeake Blvd Contact us

    We can help!

    Listing Contact
    Chris Good
    Chris Good

    Listing agent Chris Good

    Listing office Kotarides Property Management

    Listing date Apr 2, 2025

    Source Moodyscre

    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 Kotarides Property Management

    HighLights

    • High traffic location: Over 34,000 vehicles per day at the intersection of Chesapeake Blvd. and E. Little Creek Road.
    • Convenient location: Immediately off the signalized intersection of Chesapeake Boulevard and E. Little Creek Road, near CVS and Wawa.
    • Investment or owner‑occupant opportunity: Vacant 6,886 SF space formerly a primary care doctor's office, available for occupancy or lease.
    • Proximity to Little Creek Amphibious Base: Located three miles from the base with a daytime population of 19,000.
    • Established shopping center: Located in Bayview Plaza, a shopping center with diverse restaurants and medical offices.
    • Pylon signage available.

    Overview

    Located in the established Bayview neighborhood, this 6,886 square foot space is situated in Bayview Plaza, a shopping center with a mix of restaurants and medical office spaces. The property is positioned off the signalized intersection of Chesapeake Boulevard and E. Little Creek Road, near a CVS and Wawa. The location benefits from high traffic volume, with over 34,000 vehicles per day at the intersection. Pylon signage is available. The property is three miles from Little Creek Amphibious Base, which has a daytime population of 19,000. Formerly occupied by a primary care doctor's office, this space presents an investment or owner-occupant opportunity. The 25,816 square foot shopping center is near above average Wawa and CVS locations.

    Local Financial Insights For 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 $439.9k $17.04
    − Vacancy −$21.1k −$0.82
    EGI $418.8k $16.22
    − OpEx −$125.6k −$4.87
    NOI $293.2k $11.36
    25,816 SF · lease $17.04/SF/yr · vacancy 4.80% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $4.19M
    $3.66M – $4.89M (±1% cap)
    NOI $293,152 @ 7.0% cap · market cap 7.30%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $5.48M
    $4.79M – $6.39M (±1% cap)
    NOI $383,354 @ 7.0% cap · market cap 9.55%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bayview-Nowcare Medical Center: ... Physician Kirsten Santianni Pediatrician Rogers Lynette S ... Pediatrician Michelle L. Kimball, ... Pharmacy Joel D. Gutierrez, ... Pharmacy

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Similar Places Nearby

    • Quick-Tag — Walmart Supercenter, 7530 Tidewater Dr, Norfolk, VA 23505
    • Let's Get Nerdy! — 956 E Little Creek Rd suite 37, Norfolk, VA 23518
    • Little Creek Square — 1710-1780 E Little Creek Rd, Norfolk, VA 23518
    • Little Creek Marketplace — E Little Creek Rd, Norfolk, VA 23513
    • Coinstar Kiosk | Bitcoin ATM — Food Lion, 7525 Tidewater Dr, Norfolk, VA 23505

    Location Insight

    • Map
    • Local Demand
    City
    Norfolk
    County
    Norfolk
    State
    Virginia
    Longitude
    -76.241
    Latitude
    36.9161

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    FAQs

    What type of property is this?
    Shopping center - Retail space in established shopping center near Little Creek Base.
    Where is this shopping center located?
    The property is located at 7924 Chesapeake Blvd Norfolk, VA.
    What is the asking price?
    The asking price for this property is $4,015,606.
    What are key features of this property?
    This property features: High traffic location: Over 34,000 vehicles per day at the intersection of Chesapeake Blvd. and E. Little Creek Road.; Convenient location: Immediately off the signalized intersection of Chesapeake Boulevard and E. Little Creek Road, near CVS and Wawa.; Investment or owner‑occupant opportunity: **Vacant 6,886 SF space formerly a primary care doctor's office, available for occupancy or lease.**
    (757) 461-1000 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Chris Good
    Chris Good
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