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Property profile & analytics

516 Innovation Dr Ste 201a Chesapeake, VA 23320-3866

  • Commercial real estate
  • 2,825 SF
  • 0.06 lot acres
OFF-MARKET
Last Sale
Dec 18, 2020
$437,600
Value Estimations
$410,000
Show details
Cap Rate Potential
8.8%
Commercial real estate
Location Intelligence
Property ID
US87-2279822
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

  • Harry Wooten Squire / Dentist
  • Clearfield sleep lab / Store
  • Dr. Paul Letellier / Dentist
  • Ace Optical / Optician
  • Persevering Families & Counseling, LLC / Mental Health Service / Marriage Or Relationship Counselor

Property Details for 516 Innovation Dr Ste 201a

Year built
2013
Lot size
0.06 lot acres
Property size
2,825 SF
Zone code
PUD: PLANNED UNIT DEVELOP
Property type
Commercial real estate
APN
482017000026
APU
482017000026

Description

This exceptional 4,057-square-foot medical office building is available for lease in the Battlefield submarket of Chesapeake, Virginia. Located at 516 Innovation Drive, zip code 23320, this single-tenant property presents a unique opportunity for medical professionals seeking a modern and efficient workspace. The entire building is currently vacant, offering immediate occupancy for a new tenant. The property's size makes it ideal for a variety of medical practices, providing ample space for examination rooms, administrative offices, and support areas. Its location in the Battlefield submarket offers convenient access to major roadways, ensuring easy commutes for both staff and patients. The property is situated at 36.735841 latitude and -76.2200571 longitude. This is a single-tenant building, providing privacy and control over the entire space. The property type is classified as an office building with a medical office subtype. Interested parties are encouraged to inquire further to explore the possibilities of establishing their practice in this prime Chesapeake location. The building's total square footage is 4,057 square feet, all of which is currently vacant and ready for immediate lease. This presents a rare opportunity to secure a fully functional, ready-to-occupy medical office space in a desirable location.


Value Estimations

based on Realmo’s proprietary methodology
  • AI approach

    Method
    Estimation
    Statistic approach
    $395,000
    ML approach
    $460,000
  • Comparable approach

    Method
    Estimation
    Statistic Estimate
    $616,000
    Market price range: $321k - $617k
    AI Estimate
    $608,000
    Market price range: $334k - $608k

Get a detailed, property-specific valuation — fast and free


Location Insight

  • Map
  • Local Demand
City
Chesapeake
County
Chesapeake City
State
Virginia
Longitude
-76.2198
Latitude
36.7358
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
$4,595
$50,300
$548,400
$598,700
-
$50,300
$548,400
$598,700
More about this property
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