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    1200 George Washington N Hwy Chesapeake, VA 23323-5021

    • Commercial land
    • 1.31 lot acres
    OFF-MARKET
    Value Estimation
    Last Sale
    Oct 22, 2021
    $283,000
    Location Intelligence
    Property ID
    US87-1219658
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial land

    Property Details for 1200 George Washington N Hwy

    Lot size
    1.31 lot acres
    Zone code
    B1: NEIGHBORHOOD BUSINESS
    Property type
    Commercial land
    APN
    251001000164
    APU
    251001000164

    Description

    This exceptional 1.3-acre commercial property in Chesapeake, Virginia, presents a unique investment opportunity. Located at 1200 George Washington Hwy N, zip code 23323, this site boasts a fully engineered plan for a 6,259 square foot retail/office building. The property is zoned B-1 (Neighborhood Business District), ensuring a wide range of potential uses. Its strategic location at a signalized intersection guarantees high visibility and significant traffic flow, maximizing exposure for any business. A key advantage is the deeded cross access and shadow-anchoring by a Walgreens, providing immediate brand recognition and increased foot traffic. The asking price is $399,000. This is a rare chance to acquire a meticulously planned site in a thriving area, offering substantial potential for growth and return on investment. The property's size and zoning make it ideal for a variety of retail and office uses, catering to the needs of the surrounding community. Don't miss this chance to secure a prime commercial property in a high-demand location.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Chesapeake
    County
    Chesapeake City
    State
    Virginia
    Longitude
    -76.3335
    Latitude
    36.7853
    CBSA code
    47260
    CBSA name
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2019
    $3,709
    $381,800
    $0.00
    $381,800
    -
    $381,800
    $0.00
    $381,800

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    Similar Nearby for Lease

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    Chesapeake, VA 23323-5021
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    Realmo Value Estimation

    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.

    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
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