Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    413 Centerville Tpke N Chesapeake, VA 23320

    Property Lookup

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

    413 Centerville Tpke N Chesapeake, VA 23320

    View on Map
    • Commercial real estate
    • 163.90 lot acres
    For Sale
    $1,275,000
    View Listing →
    Centerville Turnpike Land Parcel For Sale
    $1,275,000
    163.98 Acres

    Centerville Turnpike Land Parcel

    Land parcel at signalized intersection, owner financing considered.

    413 Centerville N Turnpike, Chesapeake, VA 23320
    View Listing
    Property ID
    US87-0967990
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Casual Home Furniture / Furniture & Home Goods / Home Decor Store
    • Mitra Eshghi / Pharmacy

    Property Details for 413 Centerville Tpke N

    Lot size
    163.90 lot acres
    Property type
    Commercial real estate
    APN
    0490000000830

    Description

    This exceptional 163.9-acre parcel in Chesapeake, Virginia, presents a unique investment opportunity. Located at the signalized intersection of Centerville Turnpike and Butts Station Road (zip code 23320), this property boasts a strategic location within a designated commercial corridor. The land features a diverse composition, including woodlands and wetlands, along with a significant portion of elevated fill. Specifically, 8.35 acres of elevated fill, approved by both the Army Corps of Engineers and the City of Chesapeake, are predominantly situated along Centerville Turnpike's road frontage. This pre-approved fill significantly streamlines development. The mixed zoning designation allows for a wide range of development possibilities, including warehousing and storage facilities, a neighborhood shopping center, or an office park. The property's APN is 0490000000830. Surveys are available upon request. The asking price for this expansive commercial land is $1,375,000. This is a rare opportunity to acquire a large, strategically located parcel with significant development potential in a thriving area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Chesapeake
    County
    Chesapeake
    State
    Virginia
    Longitude
    -76.18691
    Latitude
    36.733182

    Comparable in this City

    • Contact for pricing

      Chesapeake Land Development Opportunity

      Approximately 6 acres of land available for development in Chesapeake.
      Debaun Loop, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      Commercial Land Near Battlefield Boulevard

      Commercial land with B-3 zoning near I-64.
      1512 Sams Cir, Chesapeake, VA 23320
      View Details
    • $825,000
      2.16 Acres

      Commercial Land Near 168 Bypass

      2.16 acre commercial land parcel zoned B-2.
      423 Battlefield Blvd N, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      Chesapeake Land For Sale

      1.804 acre land parcel available in Chesapeake, Virginia.
      710 Oak Grove Rd, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      6.858 Acres on Great Bridge

      6.858 acres of land ready for development.
      Great Bridge Blvd, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      Prime Great Bridge Corner Lot

      Hard corner lot in high-traffic Great Bridge area.
      359 Battlefield Blvd S, Chesapeake, VA 23320
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Chesapeake Land Development Opportunity

      Approximately 6 acres of land available for development in Chesapeake.
      Debaun Loop, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      Commercial Land Near Battlefield Boulevard

      Commercial land with B-3 zoning near I-64.
      1512 Sams Cir, Chesapeake, VA 23320
      View Details
    • $825,000
      2.16 Acres

      Commercial Land Near 168 Bypass

      2.16 acre commercial land parcel zoned B-2.
      423 Battlefield Blvd N, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      185-Acre Corporate Mixed-Use Park

      185-acre corporate park with lakefront setting and Interstate visibility.
      644 Independence Pkwy, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      Prime Great Bridge Corner Lot

      Hard corner lot in high-traffic Great Bridge area.
      359 Battlefield Blvd S, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      Chesapeake Land For Sale

      1.804 acre land parcel available in Chesapeake, Virginia.
      710 Oak Grove Rd, Chesapeake, VA 23320
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land in Great Bridge Area

      Land for rent in Chesapeake, near major retailers.
      Battlefield Blvd S, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      Chesapeake Commercial Land For Lease

      11.59 Acres, Prime Location
      900 Battlefield Blvd, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      Land for Lease in Chesapeake

      Land available for lease in Kroger-anchored shopping center.
      Centerville Tpke S, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      Commercial Land for Lease

      Available commercial land with flexible lot sizes and lease terms.
      W Military Hwy, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      Modern Office Space in Chesapeake

      Modern office space for rent in Greenbrier Office Park.
      924 Professional Pl, Chesapeake, VA 23320
      View Details
    • Contact for pricing

      Industrial Single Tenant Opportunity

      Single tenant industrial property available for lease on 7 acres.
      5428 Bainbridge Pt, Chesapeake, VA 23320
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    413 Centerville Tpke N
    Chesapeake, VA 23320
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!