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    237 Battlefield Blvd Chesapeake, VA 23322

    • Strip malls
    • 27,696 SF
    • 15.80 lot acres
    For Lease
    View listing
    $21 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0674714
    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

    • Totally Horses / Laundry Service
    • Grand Slam 2 / Batting Cage Center / Baseball
    • Canine Designs Pet Grooming / Pet Groomer
    • Mr Fix- Phone & Computer- Buy/repair/sell / Cell Phone Accessory Store / Computer Consultant
    • Tropical Smoothie Cafe / Restaurant / Breakfast Restaurant

    Property Details for 237 Battlefield Blvd

    Year built
    1965
    Lot size
    15.80 lot acres
    Property size
    27,696 SF
    Zone code
    B1: NEIGHBORHOOD BUSINESS
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    480000000020
    APU
    480000000020

    Description

    This Class A retail shopping center, located at 237 S. Battlefield Blvd in Chesapeake, Virginia (zip code 23322), offers exceptional opportunities for businesses seeking high-visibility locations. The property boasts a total of 100,000 square feet and is currently home to multiple tenants. Two immediately available spaces are perfect for a variety of retail uses, ranging from 935 to 1,062 contiguous square feet. The minimum divisible space is 935 square feet, providing flexibility for businesses of different sizes. A total of 1,997 square feet is currently vacant, presenting a unique chance to establish a presence in this thriving Chesapeake City location. The property's prime location ensures high foot traffic and excellent visibility, making it an ideal investment for businesses seeking strong returns. This is a rare opportunity to secure space in a well-maintained, Class A shopping center in a high-demand area. The address is easily accessible and benefits from strong regional demographics. Contact us today to learn more about leasing opportunities and explore the potential of this exceptional retail space.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Chesapeake
    County
    Chesapeake City
    State
    Virginia
    Longitude
    -76.2373
    Latitude
    36.716
    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
    $201,868
    $5,037,900
    $14,295,800
    $19,333,700
    -
    $5,037,900
    $14,295,800
    $19,333,700

    Comparable in this City

    • Value Estimation by Request
      46,564 SF

      401 Centerville S Tpke

      SHOPPING CENTER, STRIP CENTER • 46,564 SF
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    • Value Estimation by Request
      22,600 SF

      1249 Cedar Rd Ste, Unit 101

      SHOPPING CENTER, STRIP CENTER • 22,600 SF
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      58,190 SF

      1245 Cedar Rd Ste L

      SHOPPING CENTER, STRIP CENTER • 58,190 SF
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    • Value Estimation by Request
      43,523 SF

      717 Battlefield Blvd S Ste 7b

      SHOPPING CENTER, STRIP CENTER • 43,523 SF
      717 Battlefield Blvd S Ste 7b, Chesapeake, VA 23322-5462
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    • Value Estimation by Request
      99,662 SF

      237 Hanbury Rd E Ste, Unit 8

      SHOPPING CENTER, STRIP CENTER • 99,662 SF
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    • Value Estimation by Request
      35,962 SF

      1464 Mt Pleasant Rd

      SHOPPING CENTER, STRIP CENTER • 35,962 SF
      1464 Mt Pleasant Rd, Chesapeake, VA 23322-4043
      View Details

    Similar Nearby for Sale

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      Retail Strip Center For Sale

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    • $495,000
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      building and garage need work but tons of potential! Property qualifies for The Great Bridge Facade Enhancement Project. They will pay 1\/2

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    • $4,450,000
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      39 Acres, Prime Development Opportunity
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    • $3,300,000

      Corner Lot for Retail

      Prime corner lot suitable for grocery, retail, or multifamily use.
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    Similar Nearby for Lease

    • $21 SF/Yr
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      Battlefield Blvd Retail Center

      Chesapeake, VA: Prime Retail Space Available
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      1,080 SF

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      Retail space available in Chesapeake, Virginia, anchored by Kroger.
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      Retail space available near Tidewater Community College.
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      Retail space available near Tidewater Community College and Publix.
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      Renovated Shopping Center Retail Space

      Recently renovated shopping center anchored by Food Lion and Fitness 19.
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    Chesapeake, VA 23322
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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.

    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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