1005 Chesapeake Ave - Office/Residential FOR SALE


Chesapeake, VA 23324- South Norfolk
$450,000 USD
757-202-9548
1005 Chesapeake Ave, Chesapeake, VA for Sale
$450,000 USD
Office/Residential - FOR SALE
1/13
null | Request Cap Rate

1005 Chesapeake Ave
Chesapeake, VA 23324
South Norfolk


OVERVIEW

Ideal for Business and Residential Use This property presents a perfect blend of commercial space and residential units, catering to the growing demand for live-work-play environments in urban centers. Strategic Location Situated in the Central Business District, this property benefits from high foot traffic, proximity to local businesses, and easy access to city amenities. Its location on Chesapeake Avenue ensures visibility and accessibility for both commercial tenants and residents. Investment Potential With its mixed-use designation and under-32-unit apartment configuration, this property offers diverse income streams and the potential for value appreciation in a developing urban area. Flexible Space Utilization The B5 zoning allows for a wide range of commercial uses on the ground floor, with residential units above, creating a dynamic and adaptable property suitable for various business models. Urban Living Appeal Residential units cater to young professionals and urban dwellers seeking the convenience of city living combined with the charm of Chesapeake's community atmosphere. Development Opportunities The property's location in the Central Business District may offer potential for future development or expansion, subject to local regulations and approvals. Strong Market Fundamentals Chesapeake's growing economy and strategic location in the Hampton Roads region provide a solid foundation for long-term property value and rental demand. Don't miss this opportunity to invest in a prime mixed-use property in one of Chesapeake's most dynamic areas. Schedule a viewing of 1005 Chesapeake Avenue today to explore the potential of this versatile commercial-apartment complex.

FOR SALE DETAILS

PRICE

$450,000 USD

PRICE/SF

$148 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

ADD'L SUBTYPES

Storefront, Storefront Retail/Office, Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1910

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

B5

APN/PARCEL ID

1280000000730

ASK ABOUT THIS PROPERTY

Chanda ChannRockstar Partners Inc.More Info
757-202-9548

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Chanda ChannRockstar Partners Inc.More Info
757-202-9548

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.