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Property profile & analytics
OFF-MARKET
Estimated value
$2,030,000
Drug stores
1415 Cedar Rd, Chesapeake, VA 23322-7107
Entity Owned
20-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-1348903
Property summary
AI-generated overview
This exceptional 14,550-square-foot freestanding retail building, formerly a Rite Aid pharmacy, presents a compelling investment opportunity in Chesapeake, Virginia. Built in 2003, the property boasts a convenient drive-thru and sits on a sizable 4.025-acre lot. Its zoning is designated as PUD. Strategically located in the Great Bridge retail submarket, the building enjoys high visibility at the signalized intersection of Greens Edge Drive and Cedar Road. This prime location offers easy access to a significant customer base, enhanced by its proximity to Tidewater Community College and a Walmart Supercenter. Further bolstering its appeal is the imminent construction of a new Publix grocery store directly on Cedar Road, west of the property, promising increased foot traffic and enhanced retail synergy. The building is in excellent condition and ready for immediate occupancy or redevelopment, making it an ideal asset for a variety of retail uses. The property's address is 1415 Cedar Road, Chesapeake, VA 23322.
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2003
Total area
14,550 SF
Lot
4.03 ac (175,329 SF)
Zoning code
PUD: PLANNED UNIT DEVELOP
APN
464001000002
UPID
US87-1348903
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Rite Aid Pharmacy Pharmacy
-
Chad R. Deuvall, PharmD Pharmacy
-
Rite Aid Pharmacy
-
Coinhub Bitcoin ATM Teller Atm
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.12M
Comparable Approach
Comparable
$1.38M
Blend (final)
Blend
$2.03M
Owner & transaction history
GLANTZ CHESAPEAKE LLC
GLANTZ CHESAPEAKE LLC
Zoning & alternative use
PUD: PLANNED UNIT DEVELOP · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Chesapeake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chesapeake submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,295,000
6.5%
$2,115,000
7%
$1,965,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,725,000
Current use
COMMERCIAL (GENERAL)
$2,370,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$2.03M
Range $1.83M – $2.23M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$140 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2019Property tax & assessments
Tax year 2019
Tax billed
$43,403
Tax year 2019
Assessed value
$5,296,500
Assessed 2023
Previous assessed
$4,717,300
+12.3% YoY
Effective rate
0.82%
On assessed value
Assessed land
$1,648,800
Assessed improvement
$3,647,700
Land market value
$1,648,800
Improvement market value
$3,647,700
Total market value
$5,296,500
Applied tax rate
12.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2003
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
14,550 SF
Lot
4.03 ac (175,329 SF)
Zoning code
PUD: PLANNED UNIT DEVELOP
APN
464001000002
UPID
US87-1348903
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
PUD: PLANNED UNIT DEVELOP · Chesapeake, VA
Zoning PUD: PLANNED UNIT DEVELOP · permitted uses
PUD: PLANNED UNIT DEVELOP · Chesapeake, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chesapeake. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.7M
COMMERCIAL (GENERAL)
Est. value
$2.4M
RETAIL STORES Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2003
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
4.03 ac
Current owner
From public records · entity-resolved
GLANTZ CHESAPEAKE LLC
Entity
Free & Clear · 0 yrs held
Mailing address
4470 PO BOX 3165TH BLVD, HARRISBURG, PA 17105-3165
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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