Single-Family Home with Additional
921 Cedar Road Chesapeake, VA 23322
New
921 Cedar Road, Chesapeake, VA, 23322
$699,900
For Sale
$699,900
COMMERCIAL - Chesapeake, VA
Property Size3,000 SF
Lot Size1.65 Acres
Price / SF$233.30
Days on Market5
Property Features for 921 Cedar Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- R15S
- Standard status
- Active
- Size
- 3,000 SF
- Lot size
- 1.65 Acres
Taxes and HOA fees
- Tax Annual Amount
- 4500
Building Details
- Year built
- 1973
- Roof type
- Composition
Listing Agency
The Real Estate Group
(757) 410-8500
1112F Eden Way N, Chesapeake, VA
Listed by
Jimmy Reece
(757) 410-8500
Added: Jul 14 Checked: Jul 18 at 12:06 am
MLS# 10644250
Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This offering includes an existing 5-bedroom home being sold “as-is,” along with an additional lot included in the sale. The property is described as totaling just under 1.7 acres, providing flexibility for buyers evaluating redevelopment or reuse of the existing structure.
The site is located at the corner of Cedar Rd & Waters Rd in Chesapeake, VA 23322. The City has this area listed under its “Character District” in the Comprehensive Plan, with notes indicating neighborhood small business or office activities, subject to the City’s review.
Listing remarks also reference the potential for a flip of the existing home, and that professional office, wellness center, or similar low-traffic ventures may be considered by the City if they support a “Neighborhood” feel and usage. The property is zoned R15S.
The site is located at the corner of Cedar Rd & Waters Rd in Chesapeake, VA 23322. The City has this area listed under its “Character District” in the Comprehensive Plan, with notes indicating neighborhood small business or office activities, subject to the City’s review.
Listing remarks also reference the potential for a flip of the existing home, and that professional office, wellness center, or similar low-traffic ventures may be considered by the City if they support a “Neighborhood” feel and usage. The property is zoned R15S.
Key Highlights
- 1973‑built 5BR home with 3,000 SF and composition roof
- Sold “as‑is” with an additional lot; total site size is just under 1.7 acres
- Corner location at Cedar Rd & Waters Rd
Local Financial Insights For Office B
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 | $72.0k | $24.00 |
| − Vacancy | −$10.8k | −$3.60 |
| EGI | $61.2k | $20.40 |
| − OpEx | −$15.3k | −$5.10 |
| NOI | $45.9k | $15.30 |
3,000 SF · lease $24.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$655.7K
$573.8K – $765.0K
NOI $45,900 @ 7.0% cap · market cap 6.56%
Second Best
Apartment 5plus
$436.4K
$381.8K – $509.1K
NOI $30,546 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$886.6K
$775.8K – $1.03M
NOI $62,064 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Single family properties
Similar For Sale Nearby
FAQs
What type of property is this?
Single family property - As-is 5-bedroom home sold with an additional lot, offering redevelopment options under the City’s character district concepts.
Where is this single family property located?
The property is located at 921 Cedar Road Chesapeake, VA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 1973‑built 5BR home with 3,000 SF and composition roof; Sold “as‑is” with an additional lot; total site size is just under 1.7 acres; Corner location at Cedar Rd & Waters Rd
