Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    110 Volvo Pkwy Chesapeake, VA 23320-4614
    Back to Search
    Property profile & analytics

    110 Volvo Pkwy, Chesapeake, VA 23320-4614

    View on Map
    • Turn key restaurants
    • 7,069 SF
    • 2.33 lot acres
    Off-Market
    Last Sale Mar 31, 2023
    $3,221,735
    Property ID
    US87-0840352
    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.
    Value Estimations
    $3,165,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • TGI Fridays / Restaurant
    • Boston Photo Studio / (Bike/Boat/Book/etc) Store / Photography Service
    • Angel Maid Bakery / Bakery / Take-out & Catering
    • Mindy’s Bakery / Bakery / Take-out & Catering
    • Local Garage Door Repair / Building Supply / General Contractor

    Property Details for 110 Volvo Pkwy

    Year built
    2003
    Lot size
    2.33 lot acres
    Zone code
    PUD: PLANNED UNIT DEVELOP
    Property type
    Turn key restaurants
    APN
    270000000930
    APU
    270000000930

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 31, 2023 $3,221,735 Mdc Coast 29 LLC Arcp Tg Chesapeake Va LLC Special Warranty Deed —
    Jul 14, 2014 $3,177,366 Arcp Tg Chesapeake Va LLC Ge Capital Francise Finance Special Warranty Deed —
    Dec 13, 2013 $2,855,610 Ge Capital Franchise Finance United Restaurant Group LP Special Warranty Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,125,000
      ML approach
      $3,085,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,631,000
      Market price range: $1.58M - $3.37M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $2,605,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $3,140,000
      Change: +21% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Chesapeake
    County
    Chesapeake City
    State
    Virginia
    Longitude
    -76.2498
    Latitude
    36.7654
    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
    $29,723
    $1,867,200
    $1,471,500
    $3,338,700
    -
    $1,867,200
    $1,471,500
    $3,338,700

    Comparable in this City

    • Value Estimation by Request
      4,167 SF

      1625 Ring Rd

      RESTAURANT
      1625 Ring Rd, Chesapeake, VA 23320-2838
      View Details
    • Value Estimation by Request
      9,191 SF

      1528 Sams Cir

      RESTAURANT
      1528 Sams Cir, Chesapeake, VA 23320-4693
      View Details
    • Value Estimation
      $645,000
      2,508 SF

      1370 Military Hwy

      RESTAURANT
      1370 Military Hwy, Chesapeake, VA 23320-2514
      View Details
    • Value Estimation
      $615,000
      7,553 SF

      1725 Debaun Ave

      RESTAURANT
      1725 Debaun Ave, Chesapeake, VA 23320-4432
      View Details
    • Value Estimation
      $605,000
      10,062 SF

      1440 Greenbrier Pkwy

      RESTAURANT
      1440 Greenbrier Pkwy, Chesapeake, VA 23320-2831
      View Details
    • Value Estimation
      $520,000
      7,918 SF

      1568 Crossways Blvd

      RESTAURANT
      1568 Crossways Blvd, Chesapeake, VA 23320-2841
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,623 SF

      Restaurant Space on South Military

      High-visibility restaurant space centrally located on South Military Highway.
      1370 S Military Hwy, Chesapeake, VA 23320
      View Details
    • Contact for pricing
      7,071 SF

      Restaurant Opportunity in Retail Corridor

      Fully equipped restaurant in a high-traffic retail area.
      1672 Sentinel Dr, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      Established Cafe Business Opportunity

      Profitable cafe business for sale in prime Chesapeake location.
      Unknown, Chesapeake, VA 23320
      View Details
    • Contact for pricing
      2,896 SF

      Freestanding Building on Corner Parcel

      2,896 SF building on one-acre corner parcel in Chesapeake, VA.
      740 Eden Way N, Chesapeake, VA 23320
      View Details
    • $4,000,000
      28,400 SF

      Versatile Commercial Property in Chesapeake

      Multi-building commercial property with warehouse, office, and showroom spaces.
      4653 Battlefield Blvd, Chesapeake, VA 23320
      View Details
    • Contact for pricing
      10,000 SF

      Industrial Warehouse in Greenbrier Park

      10,000 SF industrial warehouse in Greenbrier Commerce Park.
      908 Executive Ct, Chesapeake, VA 23320
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,630 SF

      Mixed-Use Development with Retail Space

      Mixed-use project with retail, office, and residential spaces for lease.
      Volvo Pkwy, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      Mixed-Use Project in Coastal Virginia

      Mixed-use development with residential, office, and retail spaces available.
      500 Volvo Pkwy, Chesapeake, VA 23320
      View Details
    • Contact for pricing
      5,000 SF

      Mixed-Use Development Retail Space

      Retail space available in a large mixed-use development.
      500 Volvo Pkwy, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease.
      1421 Kempsville Rd, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      Retail Space in Greenbrier Submarket

      Endcap retail space in Chesapeake's Greenbrier retail area.
      601 Volvo Pkwy, Chesapeake, VA 23320
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    110 Volvo Pkwy
    Chesapeake, VA 23320-4614
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    110 Volvo Pkwy, Chesapeake, VA, 23320
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!