501 Discovery Dr Chesapeake, VA 23320
For Sale
This exceptional 1.64-acre commercial land parcel in Chesapeake, Virginia (zip code 23320, address 501 Discovery Dr) presents a remarkable opportunity for development. Zoned PUD, it boasts a fully engineered site plan for a 7,000-10,000 square foot building, perfect for medical or general office use. The property's prime location offers quick access to Route 168 and other major thoroughfares, ensuring excellent visibility and convenient access for clients and employees. Its strategic proximity to over a dozen medical providers and Chesapeake Regional Medical Center creates a strong potential patient referral base, making it particularly attractive for healthcare practices. The site features convenient ingress/egress points and ample parking. Developers can customize the floor plan to meet specific needs. Existing infrastructure includes completed stormwater retention. The asking price is $650,000. A significant advantage is the high average household income (AHI) of $117,000 within a 5-mile radius, indicating a strong and affluent market. This turnkey opportunity combines a desirable location with pre-planning, minimizing development hurdles and maximizing return on investment.
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Dr. Geoffrey Wright Physician
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Jeremy L. Walters, DPM FACFAS Physician
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Dr. Alireza Jamali Physician
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Dr. Samuel Brown Physician
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Dr. Catherine Rapp Physician
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2019Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
PUD: PLANNED UNIT DEVELOP · Chesapeake, VAChesapeake. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.