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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    146 Battlefield S Blvd Chesapeake, VA 23322-5224

    • Retail space
    • 5,077 SF
    • 0.71 lot acres
    OFF-MARKET
    Last Sale
    Jun 07, 2022
    $5,100,000
    Value Estimations
    $4,230,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0733336
    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

    • Jersey Mike's Subs / Sandwich Shop / Caterer
    • Dollar Bank / Financial Institution / Loan Agency
    • Verizon Authorized Retailer - Wireless Zone / Electronics Store / Electronic Parts Supplier
    • Jersey Mike's / Sandwich Shop
    • Verizon / Cell Phone Store / Electronic Parts Supplier

    Property Details for 146 Battlefield S Blvd

    Year built
    1981
    Lot size
    0.71 lot acres
    Property size
    5,077 SF
    Zone code
    B1: NEIGHBORHOOD BUSINESS
    Property type
    Retail space
    APN
    481005000070
    APU
    481005000070

    Description

    This exceptional retail space, part of the newly constructed Great Bridge Village Shoppes, offers 1,531 square feet of vacant space within a 6,242 square foot multi-tenant building. Located at the signalized intersection of Battlefield Boulevard and Albemarle Drive in Chesapeake, Virginia (zip code 23322), this property boasts prime visibility and high traffic counts exceeding 38,000 vehicles daily. The 0.712-acre lot provides ample parking with 63 spaces for customers and employees. This single-tenant space is situated amongst established national retailers including Jersey Mike's, Domoishi, and Dollar Bank, ensuring a strong retail environment. The location benefits from proximity to significant population centers, including large residential communities, the Chesapeake Municipal Center (with over 3,407 employees and 16,000+ walk-up visits in 2015), Chesapeake Regional Hospital, Sentara Healthcare, and Tidewater Community College (over 13,000 students within 3 miles). This presents a unique opportunity for businesses seeking high visibility and access to a substantial customer base in a thriving Chesapeake community. The property is categorized as Commercial Retail and is located in Chesapeake County, Virginia.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,230,000
      ML approach
      $4,465,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Chesapeake
    County
    Chesapeake City
    State
    Virginia
    Longitude
    -76.2401
    Latitude
    36.7186
    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
    $10,780
    $569,600
    $881,900
    $1,451,500
    -
    $569,600
    $881,900
    $1,451,500

    Comparable in this City

    • Value Estimation
      $320,000
      9,750 SF

      1020 Cedar Rd, Unit A

      RETAIL STORES (PERSONAL SERVICES) • 9,750 SF
      1020 Cedar Rd, Chesapeake, VA 23322-7004
      View Details
    • Value Estimation
      $450,000
      15,810 SF

      1101 Cedar Rd

      RETAIL STORES (PERSONAL SERVICES) • 15,810 SF
      1101 Cedar Rd, Chesapeake, VA 23322-7198
      View Details
    • Value Estimation
      $550,000
      2,400 SF

      388 Battlefield S Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      388 Battlefield S Blvd, Chesapeake, VA 23322-5321
      View Details
    • Value Estimation
      $260,000
      868 SF

      4243 Battlefield S Blvd

      RETAIL STORES (PERSONAL SERVICES) • 868 SF
      4243 Battlefield S Blvd, Chesapeake, VA 23322-2460
      View Details
    • Value Estimation
      $260,000
      7,200 SF

      729 Battlefield Blvd S Ste A

      RETAIL STORES (PERSONAL SERVICES) • 7,200 SF
      729 Battlefield Blvd S Ste A, Chesapeake, VA 23322-5588
      View Details
    • Value Estimation
      $230,000
      6,176 SF

      357 Johnstown Rd E E Ste

      RETAIL STORES (PERSONAL SERVICES) • 6,176 SF
      357 Johnstown Rd E E Ste, Chesapeake, VA 23322-5356
      View Details

    Similar Nearby for Sale

    • $4,760,000
      10,903 SF

      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

      up to $20
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    • $4,450,000
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      Chesapeake, VA Residential Land

      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

    • Contact for pricing
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      Retail Space in Battlefield Blvd

      Retail space available with abundant parking and established tenants.
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    • Contact for pricing
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      Retail space available in renovated shopping center anchored by Food Lion.
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      Retail space available near Tidewater Community College and Publix.
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      Retail Space Available For Rent

      Retail space available for rent in Chesapeake, Virginia.
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      Cedar Road Retail Opportunity

      Chesapeake, VA Retail/Office Space Available
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      Cahoon Commons Retail Center

      Chesapeake, VA retail space available
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    Chesapeake, VA 23322-5224
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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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