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1972 Shipyard rd
Chesapeake, VA 23323
Land For Sale
·
105.00 AC
Investment Highlights
- ±105-acre residential development opportunity in Chesapeake’s Grassfield area.
- Chesapeake 2045 Plan designates the site for low-scale residential use; potential rezoning to R-8 zoning likely supported.
- Within minutes of Greenbrier retail, downtown Norfolk, Virginia Beach attractions, and major employment centers.
- Frontage on Shipyard Road with easy access to I-64, Route 17, and the broader Hampton Roads region.
- Utilities available: city water onsite; sewer connection within 700 feet of the site.
Executive Summary
Colliers International presents a unique residential development opportunity in the desirable Grassfield area of Chesapeake, Virginia. This ±105-acre site consists of three parcels and is ideally positioned with frontage on Shipyard Road, offering convenient proximity to major destinations including Greenbrier, downtown Norfolk, Virginia Beach Town Center, and coastal attractions. The site is situated within a growing residential corridor and enjoys accessibility to major regional highways, including I-64 and Route 17.
According to the Chesapeake 2045 Comprehensive Plan, the property falls under a low-scale residential character district. Future development for single-family homes with a potential rezoning to R-8 (8,000 SF lots) would likely receive favorable consideration from city officials. Utilities include available city water and nearby sewer connection approximately 700 feet away at the entrance to Bryan’s Cove, a nearby townhouse community.
Surrounding amenities include boating and recreational opportunities, golf courses, and sought-after schools, enhancing the attraction for family-oriented residential development. The property represents a rare large-scale land assemblage in a high-demand market with demographic strength and long-term growth potential.
According to the Chesapeake 2045 Comprehensive Plan, the property falls under a low-scale residential character district. Future development for single-family homes with a potential rezoning to R-8 (8,000 SF lots) would likely receive favorable consideration from city officials. Utilities include available city water and nearby sewer connection approximately 700 feet away at the entrance to Bryan’s Cove, a nearby townhouse community.
Surrounding amenities include boating and recreational opportunities, golf courses, and sought-after schools, enhancing the attraction for family-oriented residential development. The property represents a rare large-scale land assemblage in a high-demand market with demographic strength and long-term growth potential.
Property Facts
| Sale Type | Investment | Property Subtype | Commercial |
| No. Lots | 1 | Total Lot Size | 105.00 AC |
| Property Type | Land |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Total Lot Size | 105.00 AC |
1 Lot Available
Lot
| Price | $4,500,000 | Lot Size | 105.00 AC |
| Price Per AC | $42,857.14 |
| Price | $4,500,000 |
| Price Per AC | $42,857.14 |
| Lot Size | 105.00 AC |
Parcel: 0340000001040 - 67.48 AC Parcel: 0340000001010 - 2.665 AC Parcel: 0340000001050 - 35 AC
Description
These three parcels are strategically positioned in the desirable Grassfield area of Chesapeake with frontage on Shipyard Rd. The Chesapeake 2045 Comprehensive Plan designates the use as low-scale residential character district. A single-family development with a rezoning to R-8 (8,000 SF lots) would likely be supported by city staff and elected officials. Shopping, boating, golfing, historical attractions, and a highly sought-after schools are all only a few minutes away. Greenbrier, downtown Norfolk, the Virginia Beach oceanfront, and Virginia Beach Town Center are all within a quick 30-minute drive.
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $2,701,600 | Total Assessment | $2,701,600 |
Property Taxes
Parcel Numbers
Land Assessment
$2,701,600
Improvements Assessment
$0
Total Assessment
$2,701,600
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