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    237 Battlefield Blvd Chesapeake, VA 23322

    Sponsored
    For Lease
    $21 SF/Yr

    Chesapeake, VA: Prime Retail Space Available

    Lot size:
    100,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This Class A retail shopping center, located at 237 S. Battlefield Blvd in Chesapeake, Virginia (zip code 23322), offers exceptional opportunities for businesses seeking high-visibility locations. The property boasts a total of 100,000 square feet and is currently home to multiple tenants. Two immediately available spaces are perfect for a variety of retail uses, ranging from 935 to 1,062 contiguous square feet. The minimum divisible space is 935 square feet, providing flexibility for businesses of different sizes. A total of 1,997 square feet is currently vacant, presenting a unique chance to establish a presence in this thriving Chesapeake City location. The property's prime location ensures high foot traffic and excellent visibility, making it an ideal investment for businesses seeking strong returns. This is a rare opportunity to secure space in a well-maintained, Class A shopping center in a high-demand area. The address is easily accessible and benefits from strong regional demographics. Contact us today to learn more about leasing opportunities and explore the potential of this exceptional retail space.

    Property Features for 237 Battlefield Blvd

    General Information

    Property type
    Lifestyle centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    100,000 SF
    Class
    A
    Total Rate
    175000

    Unit(s) available at that property

    Space
    Unit 5
    Size
    900 SF
    Space
    Unit 17a
    Size
    1,062 SF
    Rate per SF
    $21

    HighLights

    • High‑demand space available in Great Bridge's premier shopping center.
    • Two available units: 1,062 SF and a 900 SF space (expandable).
    • Kroger‑anchored center at a prime Great Bridge intersection in Chesapeake.
    • Strong residential growth and high‑income demographics in the Great Bridge submarket.
    • Join established national retailers including Hallmark, Chili's, Panera Bread, and more.
    Property Profile Location Intelligence

    Current Use by Public Records

    Totally Horses Laundry Service Grand Slam 2 Batting Cage Center Canine Designs Pet ... Pet Groomer Mr Fix- Phone ... Mobile Phone Repair Shop Tropical Smoothie Cafe Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chesapeake
    County
    Chesapeake City
    State
    Virginia
    Longitude
    -76.2380554
    Latitude
    36.7170224

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    FAQs

    What type of property is this?
    Lifestyle center - Chesapeake, VA: Prime Retail Space Available
    Where is this lifestyle center located?
    The property is located at 237 Battlefield Blvd Chesapeake, VA.
    What is the lease rate?
    The lease rate is $0.00-$21 SF/Yr.
    What are key features of this property?
    This property features: High-demand space available in Great Bridge's premier shopping center.; Two available units: 1,062 SF and a 900 SF space (expandable).; Kroger-anchored center at a prime Great Bridge intersection in Chesapeake.
    Request Owner's contact information
    237 Battlefield Blvd Chesapeake, VA 23322
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    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.

    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
    237 Battlefield Blvd Chesapeake, VA 23322
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