501 Discovery Dr Chesapeake, VA 23320
Property profile & analytics
501 Discovery Dr, Chesapeake, VA 23320
- Medical Office Space
- 23,825 SF
- 6.58 lot acres
Property ID
US87-1896362
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. Geoffrey Wright / Physician
- Jeremy L. Walters, DPM FACFAS / Physician
- Dr. Alireza Jamali / Physician
- Dr. Samuel Brown / Physician
- Dr. Catherine Rapp / Physician
Property Details for 501 Discovery Dr
- Year built
- 2016
- Lot size
- 6.58 lot acres
- Property size
- 23,825 SF
- Zone code
- PUD: PLANNED UNIT DEVELOP
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- 482010000060
- APU
- 482010000060
Description
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.
Value Estimations
based on Realmo’s proprietary methodology
-
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $1,500,000 Current use
- OFFICE BUILDING
- $2,125,000 Change: +41% Conversion: Easy
- AUTO REPAIR, GARAGE
- $1,905,000 Change: +27% Conversion: Difficult
- RESTAURANT
- $1,900,000 Change: +27% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $1,275,000 Change: -15% Conversion: Moderate
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Chesapeake
- County
- Chesapeake City
- State
- Virginia
- Longitude
- -76.2219
- Latitude
- 36.7354
- 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
$60,379
$1,382,400
$4,906,800
$6,289,200
-
$1,382,400
$4,906,800
$6,289,200
