5411 Military HwyChesapeake, VA 23321

Property Details for 5411 Military Hwy

Year built

1970

Lot size

8.00 AC

Property size (Sq ft)

2,320 SF

Zone code

M1: LIGHT INDUSTRIAL

Property type

Retail properties

Property subtype

Auto shops

APN

210000000014

APU

210000000014

Description

This exceptional 5,184-square-foot industrial property, situated on an expansive 8-acre lot in Chesapeake, Virginia, presents a unique investment opportunity. The property features two buildings, offering a flexible layout ideal for a variety of industrial or warehouse uses. Currently entirely vacant, the entire 5,184 square feet is available for lease to a single tenant. Built in 1970, the property is zoned M1 - Light Industrial, allowing for a range of permitted activities. The location at 5411 W Military Highway, Chesapeake, VA 23321, provides excellent access to major transportation routes, enhancing logistical efficiency. The substantial lot size offers ample room for expansion, storage, or outdoor operations. This property is perfect for a business seeking a spacious, versatile workspace in a prime Chesapeake location. The property's single-tenant occupancy ensures ease of management and control. With its generous square footage and expansive land area, this property offers significant potential for growth and profitability. The property's location in Chesapeake, Virginia, provides access to a skilled workforce and a thriving business community. This is a rare opportunity to acquire a well-located, sizable industrial property in a desirable market.

• CAP approach

  CAP return

  Valuation

  6%

  $632,745

  6.5%

  $584,072

  7%

  $542,353

• Comparable approach

  Method

  Valuation

  Relative Method

  $656,147

  Geo Method

  $976,407

• Alternative Use

  Use

  Valuation

  Residential

  $492,687

  Hospitality

  $451,298

  Educational

  $375,475

  Medical

  $388,388

  Retail

  $584,072

Location Insight

City

Chesapeake

County

Chesapeake City

State

Virginia

Latitude

36.7699

Longitude

-76.4583

CBSA code

47260

CBSA name

VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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