217 Carmichael Way

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217 Carmichael Way

chesapeake, VA 23322
Asking Price
$3.55M
Asset Type
Retail
Class
Class B

What's Special

217 Carmichael Way is situated in the Edinburgh area of southern Chesapeake, Virginia. This retail location is positioned within a primary commercial corridor characterized by high-density suburban development and established residential communities. The property offers direct proximity to the Edinburgh Commons shopping center, providing access to national big-box retailers, grocery outlets, and diverse dining amenities. Transportation access is supported by the site’s location near the intersection of Hillcrest Parkway and Route 168, a major regional artery connecting the Hampton Roads area to northeastern North Carolina. The asset is suitable for retail operations that benefit from consistent local commuter traffic and neighborhood visibility. Ideal use cases include boutique storefronts, service-oriented businesses, or specialized fitness and wellness studios. The typical tenant profile encompasses regional franchises, medical office practitioners, or small-scale consumer goods providers seeking to serve the growing demographic of the southern Chesapeake submarket. The surrounding environment supports businesses that prioritize convenient parking and proximity to essential suburban services.

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NOI
$80,000
Cap Rate
2.25%
DSCR
0.38
Underwater
Cash-on-Cash
-12.27%
Monthly Payment
$17,553.568
Annual Cash Flow
$-130,642.818

Location & Travel Times