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

    601 Volvo Pkwy Chesapeake, VA 23320

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Chesapeake, VA: Prime Retail Opportunity

    Lot size:
    2,506 SF

    Property Features for 601 Volvo Pkwy

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    2,506 SF

    Spaces For Lease

    at 601 Volvo Pkwy, Chesapeake, VA 23320 Contact us

    We can help!

    Listing Contact
    David Andrews
    David Andrews

    Listing Agency: TSCG The Shopping Center Group Richmond Listing Agent: David Andrews

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

    Learn more

    Overview

    This exceptional 2,506 square foot retail space is available for lease at 601 Volvo Parkway in Chesapeake, Virginia. Located in the Chesapeake submarket, this single-tenant property offers a blank canvas for a variety of commercial ventures. The entire building is currently vacant, providing immediate occupancy for a new business. The property's address is conveniently situated at 601 Volvo Parkway, zip code 23320, within Chesapeake County, Virginia. Its prime location offers excellent visibility and accessibility for customers. The building's total square footage is 2,506 square feet, providing ample space for a diverse range of retail operations. This presents a unique opportunity for businesses seeking a well-positioned, readily available space in a thriving commercial area. The property is classified as retail commercial real estate, perfect for a variety of uses. The single-tenant occupancy ensures exclusive use of the entire space, offering complete control and customization. Interested parties are encouraged to explore the potential of this exceptional retail space in a highly desirable Chesapeake location. The property is ready for immediate occupancy, allowing for a swift and efficient business launch. This presents a rare opportunity to establish a strong presence in a vibrant commercial area. The property's location in Chesapeake, Virginia, offers access to a substantial customer base and strong regional connectivity.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chesapeake
    County
    Chesapeake
    State
    Virginia
    Longitude
    -76.2387595
    Latitude
    36.7671719

    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
    • $1,300 /Mo
      49,942 SF

      Greenbrier Office Park Suites

      Office suites available in well-established Chesapeake office park.
      1210-1228 Progressive Dr, Chesapeake, VA 23320
      View Details
    • $18 SF/Yr
      1,600 SF

      Office Space in Chesapeake

      1,600 SF office space available for lease.
      111 Mill Creek Pkwy, Chesapeake, VA 23323
      View Details
    • Contact for pricing
      11,000 SF

      Office/Retail Space Near I-64

      1,500 SF office/retail space for lease near I-64.
      1020 Battlefield Blvd N, Chesapeake, VA 23320
      View Details
    • $21 SF/Yr
      813 SF

      Professional Office Space For Lease

      Professional office space featuring reception, private offices, and open area.
      501 Cedar Rd, Chesapeake, VA 23322
      View Details
    • $1,350 /Mo
      15,000 SF

      Chesapeake Office Leasing Opportunity

      Modern office space in a prime Chesapeake location.
      1021 Eden Way N, Chesapeake, VA 23320
      View Details
    • $1,200 /Mo
      15,000 SF

      Professional Office Suites For Rent

      Well-appointed office suites in established Chesapeake office park.
      2010 Old Greenbrier Rd, Chesapeake, VA 23320
      View Details
    • Contact for pricing
      1,500 SF

      Move-in Ready Office Space

      Office space available for rent with ample parking.
      1020 Battlefield Blvd N, Chesapeake, VA 23320
      View Details

    FAQs

    What type of property is this?
    Retail property - Chesapeake, VA: Prime Retail Opportunity
    Where is this retail property located?
    The property is located at 601 Volvo Pkwy Chesapeake, VA.
    What are key features of this property?
    This property features: 2,506 SF endcap retail space at 601 Volvo Parkway, Chesapeake, VA 23320.; New construction, vanilla shell with patio and restaurant-ready utilities.; High visibility on Volvo Parkway, near top-tier retail, restaurants, and offices, across from Dollar Tree headquarters.
    (804) 673-1100 Call to check price and availability
    Request Owner's contact information
    601 Volvo 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.
    601 Volvo 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
    601 Volvo 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 David Andrews
    David Andrews
    Real Estate License ID: WV0025669
    (804) 673-1100 (804) 363-0331
    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!