2324 Chesapeake Square Ring Rd - Storefront Retail/Office FOR SALE


Chesapeake, VA 23321- Western Branch North
$2,200,000 USD
757-228-1829
2324 Chesapeake Square Ring Rd, Chesapeake, VA for Sale
$2,200,000 USD
Storefront Retail/Office - FOR SALE
1/6
null | Request Cap Rate

2324 Chesapeake Square Ring Rd
Chesapeake, VA 23321
Western Branch North


HIGHLIGHTS

  • Adjacent to Target and Sam’s Club
  • Easy access to Taylor Road & Portsmouth Boulevard.
  • Owner will consider subdividing parcel.
  • Super regional submarket with ready access to I-664.

OVERVIEW

Located within the Chesapeake Square retail corridor in Chesapeake, Virginia, 2324 Chesapeake Square Mall Ring Road presents an opportunity to acquire a former restaurant property positioned within one of the area's established retail concentrations. The property is situated adjacent to major national retailers and shopping destinations, creating consistent consumer activity and visibility throughout the surrounding trade area. Chesapeake Square Mall remains a key anchor for the submarket, with redevelopment activity underway that includes the planned addition of a Publix grocery store and approximately $20 million in improvements to portions of the mall property. The site benefits from direct access to the mall ring road, monument signage, and convenient connectivity to Interstate 664, providing efficient access throughout Hampton Roads. The surrounding corridor includes Target, Walmart, Sam’s Club, BJ’s Wholesale Club, Aldi, Lidl, Home Depot, and numerous restaurants, supporting a diverse retail environment and broad consumer draw. Recent residential development activity throughout the Portsmouth Boulevard corridor has added new housing inventory and expanded the area's customer base, while major employers, including Amazon facilities with more than 3,000 employees, contribute to regional workforce demand. Constructed in 1997 on approximately 2.689 acres and zoned B-2, the property offers flexibility for a variety of retail, restaurant, service, or redevelopment-oriented uses. The combination of established retail synergies, ongoing investment in the immediate trade area, strong transportation access, and continued residential and employment growth positions the asset as an opportunity for investors, owner-users, or operators seeking a location within a prominent Chesapeake commercial corridor.

FOR SALE DETAILS

PRICE

$2,200,000 USD

PRICE/SF

$193 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Freestanding, Storefront, Health Club

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1997

SPRINKLERS

-

PARKING SPACES

113

LAND DETAILS

CROSS STREETS

none

LAND ACRES

2.69 AC

LAND SF

117,176 SF

ZONING

B2

APN/PARCEL ID

0106009000040

ASK ABOUT THIS PROPERTY

Ned BrooksCBRE, Inc.More Info
757-228-1829

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Ned BrooksCBRE, Inc.More Info
757-228-1829

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