Residential Land for Sale in Chesapeake, Virginia
427 Freeman Ave, Chesapeake, VA 23324
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.
Location
- Street address
- 427 Freeman Ave
- County
- City of Chesapeake
- Community
- Money Point
- Elevation
- 7 feet
Property details
- Lot size
- 0.08 acres3,485 sq ft
- Zoning
- M2
- MLS #
- REIN 10607003
- Posted
Property taxes
- Recent
- $917
Parcels
- 1570000001470
Details and features
Listing
- Type
- Land
Exterior
- Fencing
- Fenced
- Features
- Habitable Dwelling
Nearby schools
| Name | Type |
|---|---|
| George W. Carver Intermediate | Elementary |
| Oscar Smith Middle | Middle |
| Oscar Smith | High |
Listing history
| Date | Event | Price | Change | Source |
|---|---|---|---|---|
| Apr 6, 2026 | Price drop | $95,000 | $5,000 -5% | REIN |
| Feb 20, 2026 | Price drop | $100,000 | $15,000 -13% | REIN |
| Jan 6, 2026 | Price drop | $115,000 | $10,000 -8% | REIN |
| Oct 24, 2025 | New listing | $125,000 | — | REIN |