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    501 Discovery Dr Chesapeake, VA 23320

    Sponsored
    For Sale
    $650,000

    Prime Greenbrier development site, medical/office ready.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 1.64-acre commercial land parcel in Chesapeake, Virginia (zip code 23320, address 501 Discovery Dr) presents a remarkable opportunity for development. Zoned PUD, it boasts a fully engineered site plan for a 7,000-10,000 square foot building, perfect for medical or general office use. The property's prime location offers quick access to Route 168 and other major thoroughfares, ensuring excellent visibility and convenient access for clients and employees. Its strategic proximity to over a dozen medical providers and Chesapeake Regional Medical Center creates a strong potential patient referral base, making it particularly attractive for healthcare practices. The site features convenient ingress/egress points and ample parking. Developers can customize the floor plan to meet specific needs. Existing infrastructure includes completed stormwater retention. The asking price is $650,000. A significant advantage is the high average household income (AHI) of $117,000 within a 5-mile radius, indicating a strong and affluent market. This turnkey opportunity combines a desirable location with pre-planning, minimizing development hurdles and maximizing return on investment.

    Property Features for 501 Discovery Dr

    General Information

    Property type
    Land
    Lot Size
    71,438 SF

    HighLights

    • 7,000‑10,000 SF building site plans available.
    • Excellent location with easy Route 168 access.
    • Strong patient base near numerous medical providers and Chesapeake Regional Medical Center.
    • Ample parking and convenient access.
    • Customizable floor plans for medical practices.
    • Existing stormwater retention system.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dr. Geoffrey Wright Orthopedic Surgeon Jeremy L. Walters, ... Orthopedic Surgeon Dr. Alireza Jamali Orthopedic Surgeon Dr. Samuel Brown Orthopedic Surgeon Dr. Catherine Rapp Orthopedic Surgeon

    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
    -76.221047404574
    Latitude
    36.734935782174

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    FAQs

    What type of property is this?
    Land - Prime Greenbrier development site, medical/office ready.
    Where is this land located?
    The property is located at 501 Discovery Dr Chesapeake, VA.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: 7,000-10,000 SF building site plans available.; Excellent location with easy Route 168 access.; Strong patient base near numerous medical providers and Chesapeake Regional Medical Center.
    (757) 237-7500
    Request Owner's contact information
    501 Discovery Dr Chesapeake, VA 23320
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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
    501 Discovery Dr Chesapeake, VA 23320
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