6,359 sqft
$2,500,000
1420 Chestnut ST, Portsmouth VA, 23704
Price per sqft$393.14
Built in2003
Property size6,359 sqft
Property typeCommercial
Overview
Active
New Listing
Listed Oct 16, 2026
Updated 3 days ago
Income producing property. Current owner is interested in a sale-leaseback transaction. The income comes from the office buildings plus a 65 space parking lot for big rigs. The owner is prepared to rent the office space for $112,970 per year and the current income from parking revenue is $132,000 per year. Excellent investment opportunity or a Section 1031 Exchange. Property is located close to the port and has been used for parking big rigs for many years. A 6-foot fence surrounds this rear parking lot and is accessed 24/7 by a remote control gate. Owner has been operating a business in this location for the past ten years.
Other Property Details
- Taxes
- $14,099
- Tax Frequency
- Annually
- 55+/Senior Community
- No
Courtesy of Virginia Commonwealth Realty
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