Listing provided courtesy of Real Broker LLCMLS# 10607003MLS Provider
  • 252 days on site
  • 27 views

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.

Source: REIN MLS, MLS#: 10607003

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  • Property Type
    Land
  • Lot
    0.08 acres

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Jonathan Dahl

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  • Median Age
    32
  • Population Density
    3,145
  • College Educated
    25%
  • Estimated Median Income
    $44,883
  • Estimated Total Home Owners
    4,276
  • Estimated Total Renters
    3,970
  • Owner / Renter Divide
    52% / 48%
  • Estimated Average Household Size
    3
  • Total Population
    23,232
  • Community data courtesy of LiveBy, Inc.

Owning this Home

$
$ %
%
* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

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  • Skip Templeton
  • RW Towne Mortgage
  • Vice President | Mortgage Loan Officer
  • (757) 287-1902

Want to talk? Contact us here.

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Life at 427 Freeman Avenue


Schools


School data courtesy of LiveBy, Inc.
Ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating. The schools displayed on this website are for informational purposes only and may not represent a complete or up-to-date list. School assignments are subject to change and should be verified directly with the local school district. Please contact the appropriate school district to confirm school zoning and enrollment eligibility for this property.

History

Date Event Value Agent
4/6/2026Source: REIN MLS Price Reduction
$95,000 -5.0%
2/20/2026Source: REIN MLS Price Reduction
$100,000 -13.0%
1/6/2026Source: REIN MLS Price Reduction
$115,000 -8.0%
10/29/2025Source: REIN MLS Status Change
Active
10/21/2025Source: REIN MLS Added to Database
October 21, 2025

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