Chesapeake, VA
Commercial Real Estate Market Trends & Data

$267 Avg asking sale price
$8,606 Avg asking lease rate
24,886 SF Avg unit lease size
28,175 SF Avg building size for sale
9.03% Average cap rate

Chesapeake's Demographic Profile

Chesapeake has 93,775 households and a median income of $92,251, providing context for rent absorption and tenant demand across retail and multifamily assets. A +3% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 256,322
# Households 93,775
Median age 39
Median household income $92,251
Avg household size 3.0
Renter-occupied housing units 27,971
5-year population change +3%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Chesapeake, VA

↻ Updated Monthly

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Chesapeake $280 27,998 SF 7.88%
Portsmouth $177 11,573 SF 8.40%
Norfolk $182 15,804 SF 11.84%
Virginia Beach $192 18,579 SF 11.84%
Nearby Industrial Markets Avg Cost/SF Typical Size Cap Max
Chesapeake $157 23,612 SF 15.40%
Norfolk $158 22,646 SF 11.84%
Virginia Beach $181 17,000 SF 15.40%
Nearby Retail Markets Avg Cost/SF Typical Size
Chesapeake $308 14,954 SF
Portsmouth $307 6,085 SF
Norfolk $275 45,949 SF
Virginia Beach $368 30,231 SF
Fort Monroe $100 8,500 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Chesapeake $173 94,173 SF 6.95%
Portsmouth $194 53,803 SF 9.70%
Norfolk $185 38,486 SF 9.70%
Suffolk $72 18,000 SF 8.68%

Commercial Properties For Sale in Chesapeake

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

Take 5 Oil Change

Chesapeake, VA 23322

  • 1,830 SF Retail Building
  • 5.75% Cap Rate
  • $2,521,739
For Sale

Executive Business Park

Chesapeake, VA 23320

  • 15,010 SF Flex Building
  • $396,000
For Sale

3804 Bainbridge Blvd

Chesapeake, VA 23324

  • 2,066 SF Office Building
  • $225,000
For Sale

3400 Airline Blvd

Portsmouth, VA 23701

  • 3,648 SF Office Building
  • $639,000
For Sale

1437 Sams Dr

Chesapeake, VA 23320

  • 1,500 SF Retail Building
  • 24.44% Cap Rate
  • $450,000
For Sale

Bldg. 3

Portsmouth, VA 23701

  • 20,500 SF Flex Building
  • $315,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether Chesapeake pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Chesapeake $267 28,175 SF
Portsmouth $225 20,698 SF
Norfolk $196 33,916 SF
Virginia Beach $262 29,252 SF

Regional Demographic Comparison

This comparison places Chesapeake alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Chesapeake or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Chesapeake 256,322 93,775 39 $92,251 3 27,971 3%
Portsmouth 96,645 39,070 37 $55,489 2 17,994 -1%
Norfolk 229,699 90,025 34 $60,283 2 51,968 -2%
Virginia Beach 454,059 176,252 39 $84,941 3 66,787 -1%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Chesapeake, VA and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Chesapeake

View All Commercial Real Estate For Sale in Chesapeake
Is Chesapeake a good market for a first-time commercial real estate investor?

Chesapeake offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Chesapeake?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Chesapeake. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Chesapeake?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Chesapeake. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Chesapeake compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Chesapeake. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Chesapeake acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Chesapeake, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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