427 Freeman Ave Chesapeake, VA 23324
South Norfolk NeighborhoodEstimated payment $590/month
About This Lot
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.
Property Details
Property Type
- Land
Est. Annual Taxes
- $917
Lot Details
- 3,485 Sq Ft Lot
- Lot Dimensions are 120 x 30
- Partially Fenced Property
- Interior Lot
- Level Lot
- Property is zoned M2
Schools
- George W. Carver Intermediate
- Oscar Smith Middle School
- Oscar Smith High School
Community Details
- Money Point Subdivision
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $917 | $73,800 | $58,500 | $15,300 |
| 2024 | $917 | $90,800 | $80,000 | $10,800 |
| 2023 | $658 | $79,200 | $70,000 | $9,200 |
| 2022 | $700 | $69,300 | $60,000 | $9,300 |
| 2021 | $431 | $41,000 | $33,000 | $8,000 |
| 2020 | $443 | $42,200 | $35,000 | $7,200 |
| 2019 | $441 | $42,000 | $35,000 | $7,000 |
| 2018 | $377 | $35,900 | $20,000 | $15,900 |
| 2017 | $371 | $35,300 | $20,000 | $15,300 |
| 2016 | $371 | $35,300 | $20,000 | $15,300 |
| 2015 | $371 | $35,300 | $20,000 | $15,300 |
| 2014 | $371 | $35,300 | $20,000 | $15,300 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 02/20/2026 02/20/26 | Price Changed | $100,000 | -13.0% | -- |
| 01/06/2026 01/06/26 | Price Changed | $115,000 | -8.0% | -- |
| 10/21/2025 10/21/25 | For Sale | $125,000 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Interfamily Deed Transfer | -- | None Available |
Source: Real Estate Information Network (REIN)
MLS Number: 10607003
APN: 1570000001470
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The listings data displayed on this medium comes in part from the Real Estate Information Network, Inc. (REIN) and has been authorized by participating listing Broker Members of REIN for display. REIN's listings are based upon Data submitted by its Broker Members, and REIN therefore makes no representation or warranty regarding the accuracy of the Data. All users of REIN's listings database should confirm the accuracy of the listing information directly with the listing agent.
Copyright 2026 REIN. REIN's listings Data and information is protected under federal copyright laws. Federal law prohibits, among other acts, the unauthorized copying or alteration of, or preparation of derivative works from, all or any part of copyrighted materials, including certain compilations of Data and information. COPYRIGHT VIOLATORS MAY BE SUBJECT TO SEVERE FINES AND PENALTIES UNDER FEDERAL LAW.
REIN updates its listings on a daily basis.
Some listings may be duplicated in the search results due to the co-mingling of listings from more than one multiple listing service. Should there be different listing information between the duplicated listings; user is advised to verify the accuracy of the listing information before making any financial decisions.
Some or all of the listings (or listings Data) represented in this application have been enhanced with Data not provided by REIN. The enhancements are as follows: mapping, demographics, and economics. The source of these enhancements are: GreatSchools, CoStar, Google, Walk Score, How Loud, Collateral Analytics, Black Knight, First American, and Quantarium.
This application does not include information on all of the properties available for sale at this time.
- 4376 Pickney Ln
- 504 Sloane St
- 4311 Salt Marsh Ln
- 4210 Bainbridge Blvd
- 4319 Salt Marsh Ln
- 4320 Alvah Martin Way
- 3608 Bainbridge Blvd
- 1215 Freeman Ave
- 1022 Hill St
- 1024 Middle St
- 1004 Mayfield Ave
- 4109 Franklin St
- 4102 1st St
- 4110 1st St
- 1323 Jacob Ct
- 1108 Anne Ave
- 4136 2nd St
- 4130 3rd St
- 4109 5th St
- 103 Swain Ave
- 511 Marc Smiley Rd
- 1201 Country Rd
- 1111 Anne Ave
- 2600 Harvard Dr
- 4109 5th St Unit B
- 4136 Everett St
- 122 Channing Ave Unit 1
- 120 Channing Ave Unit 2
- 2009 Mclain St Unit B
- 40 Afton Pkwy Unit 3
- 11 Emmons Place
- 901 Haledon Rd
- 102 Cushing St
- 1921 Robert Hall Blvd
- 710 Ray Ave
- 4 Channing Ave
- 2610 Omar St
- 3817 George Washington Hwy
- 5120 George Washington Hwy
- 908 Lake Village Dr
Ask me questions while you tour the home.