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    1449 Battlefield N Blvd Chesapeake, VA 23320-4501
    Property profile & analytics

    1449 Battlefield N Blvd, Chesapeake, VA 23320-4501

    View on Map
    • Grocery and convenience stores
    • 1,891 SF
    • 0.91 lot acres
    Off-Market
    Last Sale Sep 21, 2022
    $2,100,000
    Property ID
    US87-1258789
    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
    $1,825,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Miller's / Gas Station
    • Amazon Locker - Lekh / Courier Service / Postal Service
    • ATM / Atm
    • Shell / Car Wash
    • Southern Maryland Oil Inc / Gas Station

    Property Details for 1449 Battlefield N Blvd

    Year built
    1996
    Lot size
    0.91 lot acres
    Zone code
    B3: HIGHWAY SERVICE
    Property type
    Grocery and convenience stores
    APN
    270000000920
    APU
    270000000920

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 21, 2022 $2,100,000 Global Montello Group Corp Tidewater Investments LLC Special Warranty Deed —
    Mar 5, 2019 $2,350,000 Tidewater Investments LLC Papco INC Special Warranty Deed $1.8M · Townebank
    Sep 3, 2013 $1,234,000 Papco INC Dash In Food Stores INC Special Warranty Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,740,000
      ML approach
      $1,695,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,497,000
      Market price range: $427k - $1.50M

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

    Location Insight

    • Map
    • Local Demand
    City
    Chesapeake
    County
    Chesapeake City
    State
    Virginia
    Longitude
    -76.2517
    Latitude
    36.7689
    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
    $17,789
    $1,048,800
    $946,000
    $1,994,800
    -
    $1,048,800
    $946,000
    $1,994,800

    Comparable in this City

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      1653 Sentinel Dr, Unit 100

      GROCERY, SUPERMARKET
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    • Value Estimation
      $675,000
      5,020 SF

      471 Kempsville Rd

      CONVENIENCE STORE
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      1102 Military Hwy

      CONVENIENCE STORE
      1102 Military Hwy, Chesapeake, VA 23320-2344
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      3,050 SF

      907 Great Brg Blvd

      CONVENIENCE STORE
      907 Great Brg Blvd, Chesapeake, VA 23320-6627
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      968 SF

      1050 Military Hwy

      CONVENIENCE STORE
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    • Value Estimation by Request
      3,128 SF

      1108 Volvo Pkwy

      CONVENIENCE STORE
      1108 Volvo Pkwy, Chesapeake, VA 23320-2813
      View Details

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    • $4,000,000
      28,400 SF

      Versatile Commercial Property in Chesapeake

      Multi-building commercial property with warehouse, office, and showroom spaces.
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      Restaurant Space on South Military

      High-visibility restaurant space centrally located on South Military Highway.
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      7,071 SF

      Restaurant Opportunity in Retail Corridor

      Fully equipped restaurant in a high-traffic retail area.
      1672 Sentinel Dr, Chesapeake, VA 23320
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      10,000 SF

      Industrial Warehouse in Greenbrier Park

      10,000 SF industrial warehouse in Greenbrier Commerce Park.
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      Chesapeake Land Development Opportunity

      Approximately 6 acres of land available for development in Chesapeake.
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    Similar Nearby for Lease

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      1,200 SF

      Retail Space in Busy Center

      Retail space available in a high-traffic Chesapeake location.
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      5,000 SF

      Retail Space in Chesapeake, VA

      5,000 SF retail space available for rent.
      1011 Eden Way N, Chesapeake, VA 23320
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      124,662 SF

      Divisible Retail Space in Chesapeake

      124,000 SF retail space divisible to 60,000 SF.
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      2,518 SF

      Retail Space Near Kempsville Road

      Retail space with convenient access to major thoroughfares and landmarks.
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      Retail Space in Greenbrier Market

      Premier power center location near Greenbrier Mall and Business Park.
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    • Contact for pricing
      1,300 SF

      Retail Space on Battlefield Boulevard

      Retail space with high traffic and excellent visibility available for rent.
      1434 Sams Dr, Chesapeake, VA 23320
      View Details
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    Chesapeake, VA 23320-4501
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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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