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Mixed-Use

1005 Chesapeake Ave

1005 Chesapeake Ave, Chesapeake, VA 23324

Listing Price: $399,000

Cap Rate
7.52%
Number of Units
2
Occupancy
100.0%
Price/Unit
$199,500
Price/Gross SF
$130.82
Gross SF
3,050

Investment Overview

Marcus and Millichap is pleased to present the exclusive offering for 1005 Chesapeake Avenue in Chesapeake, Virginia. The subject property is comprised of two apartments and one commercial space located in the Diggstown neighborhood. The apartments consist of one 3 bed 1 bath and one 1 bed 1 bath unit and the commercial space is currently occupied by a recording studio. Diggstown has a fairly dense commercial area where the subject property is located and provides quick and easy access to 464 and 64. It is also a short distance to the largest employer in the region the US Naval Shipyard located just across the bridge in Norfolk. The property has been well maintained and the apartments have ample room for the rents to be increased. This is a great property for someone looking to get started in investing in commercial real estate.

Investment Highlights

  • Steady cash flowing asset in popular Chesapeake neighborhood
  • Recently renovated apartments and office space with tenants in place
  • Upside in monthly rents with historically high occupancy
  • Great opportunity for a first time investor

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Mixed-Use

1005 Chesapeake Ave

Listing Price: $399,000

Cap Rate
7.52%
Number of Units
2
Occupancy
100.0%
Price/Unit
$199,500
Price/Gross SF
$130.82
Gross SF
3,050

Investment Highlights

  • Steady cash flowing asset in popular Chesapeake neighborhood
  • Recently renovated apartments and office space with tenants in place
  • Upside in monthly rents with historically high occupancy
  • Great opportunity for a first time investor

Investment Overview

Marcus and Millichap is pleased to present the exclusive offering for 1005 Chesapeake Avenue in Chesapeake, Virginia. The subject property is comprised of two apartments and one commercial space located in the Diggstown neighborhood. The apartments consist of one 3 bed 1 bath and one 1 bed 1 bath unit and the commercial space is currently occupied by a recording studio. Diggstown has a fairly dense commercial area where the subject property is located and provides quick and easy access to 464 and 64. It is also a short distance to the largest employer in the region the US Naval Shipyard located just across the bridge in Norfolk. The property has been well maintained and the apartments have ample room for the rents to be increased. This is a great property for someone looking to get started in investing in commercial real estate.

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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