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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4300 Portsmouth Blvd Chesapeake, VA 23321

    • Retail properties
    • 185,322 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Aaditya Ajmani, OD / Physician
    • Hair vamp Salon / Hair Salon
    • Smoke Shop / (Bike/Boat/Book/etc) Store
    • Tabitha King, LMT / Alternative Medicine Practice / Spa & Massage Center
    • Harrell's Bodywork & Massage Therapy / Alternative Medicine Practice / Spa & Massage Center

    Property Details for 4300 Portsmouth Blvd

    Property size
    185,322 SF
    Property type
    Retail properties
    Property subtype
    Restaurants

    Description

    This exceptional executive office property, located at 4300 Portsmouth Blvd in Chesapeake, Virginia (zip code 23321), offers a total of 185,322 square feet of space across two suites. The property is situated on a generous 23.52-acre lot and boasts an impressive 1,084 parking spaces, ensuring ample convenience for tenants and their clients. Currently, there are 8,992 square feet of vacant space available, divisible into units ranging from a minimum of 3,200 square feet to a maximum contiguous space of 5,792 square feet. The building's versatile design caters to a variety of business needs, suitable for retail, office, or restaurant uses. Its prime location in Chesapeake, Virginia offers excellent visibility and accessibility, making it an ideal location for businesses seeking a prominent presence in the area. The property's multiple tenancy structure provides flexibility for businesses of varying sizes. This is a rare opportunity to secure high-quality office space in a desirable location with extensive parking and significant square footage options. Inquire today to learn more about leasing opportunities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Chesapeake
    County
    Chesapeake City
    State
    Virginia
    Longitude
    -76.4214
    Latitude
    36.8235

    Comparable in this City

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      Retail properties • 25,000 SF
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    • Value Estimation by Request
      864 SF

      4452 Portsmouth Blvd

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    • Value Estimation by Request
      2,293 SF

      4116 Portsmouth Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,293 SF
      4116 Portsmouth Blvd, Chesapeake, VA 23321-2128
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    • Value Estimation by Request
      3,330 SF

      4024 Portsmouth Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,330 SF
      4024 Portsmouth Blvd, Chesapeake, VA 23321-2126
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    • Value Estimation by Request
      9,222 SF

      4717 Military Hwy

      RESTAURANT • 9,222 SF
      4717 Military Hwy, Chesapeake, VA 23321-1728
      View Details
    • Value Estimation
      $2,420,000
      10,062 SF

      4700 Portsmouth Blvd

      RESTAURANT • 10,062 SF
      4700 Portsmouth Blvd, Chesapeake, VA 23321-1420
      View Details

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    Similar Nearby for Lease

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    Chesapeake, VA 23321
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    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
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