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    Property profile & analytics

    311 Johnstown Rd Chesapeake, VA 23322

    • Office buildings
    • 1,120 SF
    • 0.07 lot acres
    For Sale
    View listing
    $200,000
    Value Estimation
    Last Sale
    Mar 28, 2025
    $200,000
    Location Intelligence
    Property ID
    US87-1301890
    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

    • Farmers Insurance - Theresa Woolard / Auto Insurance Agency / Home Insurance Agency
    • Albert Dean Bohon / Optometrist

    Property Details for 311 Johnstown Rd

    Year built
    1972
    Lot size
    0.07 lot acres
    Property size
    1,120 SF
    Zone code
    B1: NEIGHBORHOOD BUSINESS
    Property type
    Office buildings
    APN
    481012000001
    APU
    481012000001

    Description

    This exceptional commercial property, located at 311 Johnstown Road in Chesapeake, Virginia, presents a fantastic opportunity for a diverse range of businesses. Priced at $200,000, this property offers versatile office space previously occupied by an optometrist's practice for many years. The interior is currently well-appointed and ready for immediate occupancy. The building enjoys a highly desirable location with over 15,000 vehicles passing by daily, ensuring excellent visibility and accessibility for your business. Strategic placement between an established insurance firm and a retail business provides a strong commercial synergy. This makes it an excellent choice for both start-up companies seeking a prime location and established businesses looking to expand their operations. The property's suitability extends beyond traditional office spaces

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $240,000

    • CAP approach

      CAP return
      Estimation
      6%
      $270,000
      6.5%
      $285,000
      7%
      $300,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $280,000
      Geo Method
      $265,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $305,000
      Retail
      $230,000
      Mixed-Use
      $235,000
      Hospitality
      $230,000
      Educational
      $235,000
      Residential Income
      $290,000
      Energy
      $250,000
      Income-Based Land
      $275,000
      Food Service
      $230,000

    Location Insight

    • Map
    • Local Demand
    City
    Chesapeake
    County
    Chesapeake City
    State
    Virginia
    Longitude
    -76.2386
    Latitude
    36.7115
    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
    $1,305
    $53,300
    $94,400
    $147,700
    -
    $53,300
    $94,400
    $147,700

    Comparable in this City

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    • Value Estimation by Request
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      752 Cedar Rd

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      752 Cedar Rd, Chesapeake, VA 23322-7227
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    • Value Estimation
      $355,000
      1,096 SF

      229 Mt Pleasant Rd

      OFFICE BUILDING • 1,096 SF
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      View Details
    • Value Estimation
      $245,000
      1,839 SF

      133 Mt Pleasant Rd

      OFFICE BUILDING • 1,839 SF
      133 Mt Pleasant Rd, Chesapeake, VA 23322-4156
      View Details
    • Value Estimation
      $385,000
      5,184 SF

      392 Battlefield Blvd S Ste, Unit 101

      OFFICE BUILDING • 5,184 SF
      392 Battlefield Blvd S Ste, Chesapeake, VA 23322-5364
      View Details

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    311 Johnstown Rd
    Chesapeake, VA 23322
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    Realmo Value Estimation

    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.

    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.

    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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