Prime opportunity in Chesapeake’s South Norfolk/Money Point area! This property is zoned M-2 (Heavy Industrial), offering excellent potential for commercial or industrial use. The parcel is approx. 3,572 sq ft and well-situated with convenient access to major thoroughfares, ports, and interstates.Onsite is a 2-bedroom, 1-bath home (approx. 1,016 sq ft) that can provide immediate rental income, office space, or temporary use while future plans are developed. The structure is a bonus, but the true value lies in the land and its versatile zoning, making this a rare find for investors, business owners, or developers seeking expansion opportunities.Capitalize on a location with strong growth, flexible uses, and multiple options for maximizing value.
Lot/land
$95,000
427 Freeman Ave, Chesapeake, VA 23324
--beds
--baths
3,484Square Feet
Unimproved Land
Built in ----
3,484 Square Feet Lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
- 313 days
- 254
- 8
Zillow last checked:
Listing updated:
Listed by:
Robert Rogers,
Real Broker LLC 757-520-0565
Source: REIN Inc.,MLS#: 10607003
Facts & features
Property
Features
- Fencing: Partial,Fenced
- Waterfront features: Not Waterfront
- Frontage length: 30
Lot
- Size: 3,484 Square Feet
- Dimensions: 120 x 30
- Features: Interior Lot, Level, Less Than 1/4 Acre
Details
- Additional structures: Residence
- Parcel number: 1570000001470
- Zoning: M2
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Subdivision: Money Point
Location
- Region: Chesapeake
Financial & listing details
- Tax assessed value: $73,800
- Annual tax amount: $917
- Date on market: 10/21/2025
- Road surface type: Paved
Estimated market value
Not available
Estimated sales range
Not available
$1,479/mo
Price history
Price history is unavailable.
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $745 -18.7% | $73,800 -18.7% |
| 2024 | $917 +14.6% | $90,800 +14.6% |
| 2023 | $800 +9.9% | $79,200 +14.3% |
| 2022 | $728 +69% | $69,300 +69% |
| 2021 | $431 | $41,000 -2.8% |
| 2020 | -- | $42,200 +0.5% |
| 2019 | $441 +17% | $42,000 +17% |
| 2018 | $377 +1.7% | $35,900 +1.7% |
| 2017 | $371 +0% | $35,300 |
| 2016 | $371 | $35,300 |
| 2015 | $371 | $35,300 |
| 2014 | $371 -12.4% | $35,300 -12.4% |
| 2013 | $423 | $40,300 |
| 2012 | $423 -13.3% | $40,300 -13.3% |
| 2011 | $488 -2.7% | $46,500 -2.7% |
| 2010 | $502 -2.8% | $47,800 -2.8% |
| 2009 | $517 -7.3% | $49,200 -7.3% |
| 2008 | $558 -0.4% | $53,100 +0.6% |
| 2007 | $560 -2.1% | $52,800 +2.5% |
| 2006 | $572 +26.2% | $51,500 +45.5% |
| 2004 | $453 +18.8% | $35,400 +18.8% |
| 2003 | $381 +4.2% | $29,800 +4.2% |
| 2002 | $366 | $28,600 |
| 2001 | $366 | $28,600 |
Find assessor info on the county website
Monthly payment
Climate risks
Neighborhood: South Norfolk
Nearby schools
Schools provided by the listing agent
- Elementary: George W. Carver Intermediate
- Middle: Oscar Smith Middle
- High: Oscar Smith
Source: REIN Inc.. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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