229 Hillcrest Pkwy Chesapeake, VA 23322
Property profile & analytics
229 Hillcrest Pkwy Chesapeake, VA 23322
- Medical Office Space
- 13,416 SF
- 1.41 lot acres
Property ID
US87-2367493
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.
Location Intelligence
Current Use by Public Records
- Dr. Haley Julian / Dental Office
- Marni Husson / Dental Office
- Haley Paige Julian-Hill / Dental Office
- Ivy Rehab Physical Therapy / Physician
- Konikoff Dental Associates Edinburgh / Dental Office
Property Details for 229 Hillcrest Pkwy
- Year built
- 2020
- Lot size
- 1.41 lot acres
- Property size
- 13,416 SF
- Zone code
- PUD: PLANNED UNIT DEVELOP
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- 730000001813
- APU
- 730000001813
Description
This exceptional Class A medical office building, located at 229 Hillcrest Parkway in Chesapeake, Virginia, presents a compelling investment opportunity. The 12,298 square foot, two-story building was constructed in 2021 and is situated within the thriving Edinburgh mixed-use development. Benefitting from a highly visible corner location at the intersection of Hillcrest Parkway and Edinburgh Parkway, the property enjoys excellent exposure to high traffic volume. The building boasts a strong tenant roster, including Konikoff Dentistry, Klar Holmes Orthodontics (both part of the Dental Care Alliance), and Ivy Rehab, ensuring a stable and predictable income stream. The Southern Chesapeake submarket, where the property is located, demonstrates impressive strength with only 5.4% vacancy across its 720,000 square feet of office space. This fully stabilized asset is ideally positioned within a growing, upscale area, proximate to major retailers such as Target and Walmart, further enhancing its appeal and accessibility. The asking price is $5,420,000. Additional investment opportunities within this portfolio are also available.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,247,000
Market price range: $403k - $1.40M -
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $885,000 Current use
- COMMERCIAL (GENERAL)
- $2,220,000 Change: +151% Conversion: Easy
- RESTAURANT
- $1,765,000 Change: +100% Conversion: Difficult
- OFFICE BUILDING
- $1,655,000 Change: +87% Conversion: Easy
- AUTO REPAIR, GARAGE
- $1,225,000 Change: +38% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $890,000 Change: +0% Conversion: Moderate
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Location Insight
- Map
- Local Demand
- City
- Chesapeake
- County
- Chesapeake City
- State
- Virginia
- Longitude
- -76.2339
- Latitude
- 36.6561
- 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
$11,096
$845,400
$2,696,100
$3,541,500
-
$845,400
$2,696,100
$3,541,500
