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440 Chestnut St 2,644 SF of Retail Space Available in Portsmouth, VA 23704
HIGHLIGHTS
- Freestanding 2,644 SF building with existing drive-thru infrastructure.
- Less than 0.4 miles from I-264, providing excellent regional access.
- Surrounded by national QSR brands and retail anchors for strong co-tenancy.
- Located on a 0.8-acre lot with 29 surface parking spaces.
- Strong traffic counts with 22,000 VPD at Chestnut St./London Blvd.
- Ideal for quick-service, fast casual, or medical/retail conversion.
SPACE AVAILABILITY (1)
Display Rental Rate as
- SPACE
- SIZE
- TERM
- RENTAL RATE
- RENT TYPE
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 2,644 SF | Negotiable | Upon Request Upon Request Upon Request Upon Request | TBD |
1st Floor
Formerly a KFC, the 2,644-square-foot building includes an existing drive-thru, making it ideal for QSR, fast casual, or medical/retail conversion. The property sits on a 0.8-acre lot with 29 surface parking spaces, ensuring convenience for customers and operational efficiency.
- Fully Built-Out as a Fast Food Restaurant
- Space is an outparcel at this property
- Drive Thru
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
SELECT TENANTS AT 440 CHESTNUT ST, PORTSMOUTH, VA 23704
- TENANT
- DESCRIPTION
- US LOCATIONS
- REACH
- KFC
- Fast-food
- 5,127
- International
| TENANT | DESCRIPTION | US LOCATIONS | REACH |
| KFC | Fast-food | 5,127 | International |
PROPERTY FACTS
| Total Space Available | 2,644 SF | Gross Leasable Area | 2,644 SF |
| Property Type | Retail | Year Built | 2002 |
| Property Subtype | Fast Food |
| Total Space Available | 2,644 SF |
| Property Type | Retail |
| Property Subtype | Fast Food |
| Gross Leasable Area | 2,644 SF |
| Year Built | 2002 |
ABOUT THE PROPERTY
Strategically located less than 0.4 miles from I-264, the site offers excellent regional connectivity and strong traffic counts, with over 22,000 vehicles per day at Chestnut Street and London Boulevard. Its proximity to Downtown Portsmouth, the historic Olde Towne waterfront district, and the Naval Medical Center Portsmouth provides a steady flow of daytime and weekend traffic from both local residents and visitors. The surrounding trade area features a robust mix of national retailers, including Wawa, Starbucks, McDonald’s, Taco Bell, and Wendy’s, reinforcing the site’s retail synergy and consumer draw. With strong demographics—over 236,000 residents within a five-mile radius and average household incomes exceeding $84,000—the property offers a compelling location for operators looking to capture a dense and diverse customer base. This is a rare opportunity to secure a second-generation restaurant space in a proven retail corridor with excellent visibility and signage potential.
- Bus Line
- Pylon Sign
NEARBY MAJOR RETAILERS
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440 Chestnut St
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