4100 Sail Ct
Chesapeake, VA 23321
Schooner Cove Apartments · Multifamily Property For Sale · 28 Units

Marcus & Millichap is pleased to present 4100 Sail Court located in Chesapeake, VA. The offering consists of a 28 apartments in 2 buildings, built in 1989, and situated on 1.78 acres. Purchased from distressed sale, the property is currently undergoing renovation and lease-up transition. 4100 Sail Court is composed of(28) Three-Bedroom, Two-Bath unit flats. This unit mix is highly favorable, appealing to the local demographic. The property also has a spacious backyard that granting the resident's a gathering/social space to be used for the tenant's leisure. Tenants are responsible for electric and the owner is responsible for water and sewer. 4100 Sail Court can be accessed by Airline Blvd, a primary thoroughfare leading across town and providing access to Interstate 264 and 464. Tenants have a simple commute to Tidewaters top employment and education drivers including Norfolk Naval Shipyard, Portsmouth Marine Terminals, Bon Secours Medical Center, Portsmouth Naval Medical Center, Tidewater Community College, and multiple US Military Bases. Within 1 mile, residents have access to I-464, which connects to I-264, the primary East/West thoroughfare connecting Portsmouth to Norfolk and Virginia Beach. The urban outskirts of the Hampton Roads have seen a steady influx of residential owners since 2012, spurring the surrounding areas’ commercial boom. Projects across Suffolk, Portsmouth, and Chesapeake expect an increase in commercial development and acquisition upwards of 200 acres, economic job growth nearing 5,000 additional workers, and total investments of roughly $600 million by 2035. These projects such as Harborview Town Center, Portsmouth International Port, Chesapeake 2035 and many more continue to progress into 2018, many of which predicting completion in a short 10 years.