1420 Chestnut ST Portsmouth, VA ^$ 2,500,000

1420 Chestnut ST

^$ 2,500,000

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1420 Chestnut ST

Portsmouth, VA, 23704

^$ 2,500,000

Bedrooms-- Baths-- Sq 6,359

Monthly Estimate*

^$ 17,267

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Commercial Property for sale in Portsmouth, VA

for $2,500,000. This 6,359 square foot building was built in 2003 on a lot size of 2.708.

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.

Commercial Active

Price

^$ 2,500,000

Property Type

Commercial

Taxes

^$ 14,099

Style

Commercial/Industrial

Lot Size

2.708

Year Built

2003

Town/City

Portsmouth

County/Region

Portsmouth City

MLS | Web ID

10658206

Features

General

Construction Other

Heating Forced Hot Air Gas Zoned

Cooling Central Air Zoned

Utilities City Sewer City Water Electric Gas

Ownership Type Simple

Ceiling Height 9'

Features Mini Kitchen Pole Sign

Roof Metal

Parking Lot 26-50 Spcs 51-100 Spcs

Zoning IL

Property Type Commercial/Industrial

Area 21 - Central Portsmouth

Subdivision Name ALL OTHERS AREA 21

Location Faces Front Frontage

Sub Type Purchase

New Construction Y/N 0

Non Non Contingent

Exterior

Siding Brick

Foundation Slab

Garage Y/N 0

* Excluded Features

List By

Neal Rosenbaum

Listing Agent

Virginia Commonwealth Realty

Broker

Affordability Calculator

$18,442

Per Month

Monthly Principal & Interest: $17,267
Monthly Property Taxes: $1,175
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Commerical listings in Portsmouth, VA

Average List Price ^$439,237

Percent of Sale Price 82%

About Portsmouth, VA

93,572 Population

-7% Since 2002

^$47,591 Median Income

37.48 Median Age

26% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

239339 Elementary School

239621 Middle School

Unknown High School High School

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1420 Chestnut ST, Portsmouth, VA, 23704 is a Commercial Property for sale at $2,500,000 with 6,359 sqft and a lot size of 2.708. 1420 Chestnut ST was built in 2003. The property's zip code is 23704 which is in Portsmouth, VA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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This application does not include information on all of the properties available for sale at this time.

REIN updates its listings on a daily basis. Data last updated 10/17/2026.

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1420 Chestnut ST

Commercial Property for sale in Portsmouth, VA

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