Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    0 AIRPORT DR Melfa, VA 23410

    View on Map
    For Sale
    $85,000

    Land - MELFA, VA

    Lot size:
    5.00 Acres
    Added:
    Jan 3, 2025
    Days on Market:
    456
    Last Refresh:
    Apr 4 at 3:06 pm

    Property Features for 0 AIRPORT DR

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    5.00 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    IRENE LEWIN

    Listing agent IRENE LEWIN

    Listing office LEWIN & CARR INC. ONANCOCK, VA

    Listing date Jan 3, 2025

    MLS# 63638 Listing URL

    Copyright © 2026 Eastern Shore Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    20-Acre Land Tract in Melfa

    This 20-acre tract, divided into four home sites, is located in Melfa, Virginia. Each of the four surveyed home sites is 5 acres. The properties are mostly wooded and have state road frontage. Each site is certified for well and conventional septic systems. Permitted uses include tiny homes and large residences. Restrictions include no mobile homes, barbed wire fencing, or junk vehicles.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Melfa
    County
    Accomack
    State
    Virginia
    Longitude
    -75.764694
    Latitude
    37.671417

    Nearby Similar for Sale

    • $325,000
      2,860 SF

      Melfa Multi-Unit Investment Property

      Well-maintained, tenant-occupied multi-unit property in Melfa, Virginia.
      19385 MAIN ST, MELFA, VA 23410
      View Details
    • $325,000
      2,860 SF

      Melfa Multi-Unit Investment Property

      Well-maintained three-unit property in Melfa, tenant-occupied and income-producing.
      19385 MAIN ST, MELFA, VA 23410
      View Details
    • $375,000
      1,992 SF

      Remodeled Farmhouse with Modern Updates

      Tastefully remodeled 3-bedroom farmhouse with modern updates and charm.
      29142 PHILLIPS DR, MELFA, VA 23410
      View Details
    • $55,000

      Residential Lot in Melfa, VA

      2-acre lot for custom home in Melfa, Virginia.
      LOT 40 DOE CROSSING, MELFA, VA 23410
      View Details
    • $93,500

      MELFA, VA - Golf Course Lot

      0.92 acre lot on golf course with installed septic.
      Lot 7 FAIRWAY DR, MELFA, VA 23410
      View Details
    • $35,000

      Homesite Near Yacht & Country

      Homesite near boating, dining, and essential services.
      45 COUNTRY CLUB RD, MELFA, VA 23410
      View Details
    • $45,000

      Cleared 1.54 Acre Lot

      Cleared 1.54 acre lot ready for new home.
      Lot 29 WHITE TAIL LANE, MELFA, VA 23410
      View Details
    • $115,000

      Residential Land Near Country Club

      Residential land near Eastern Shore Yacht and Country Club.
      Lot 43+ COUNTRY CLUB RD, MELFA, VA 23410
      View Details
    • $623,000

      89 Acres of Farmland

      89 acres of land, partially wooded, with irrigation pond.
      0 AIRPORT RD, MELFA, VA 23410
      View Details
    • $75,000

      Wooded Lot Near Onancock

      5-acre wooded lot ready to build near Onancock, Virginia.
      Lot A AIRPORT DR, MELFA, VA 23410
      View Details
    • $39,900

      Residential Land Near Yacht Club

      0.52 acre lot with mature trees and existing septic.
      Lot 25 COUNTRY CLUB RD, MELFA, VA 23410
      View Details
    • $49,000

      Residential Lot Near Golf Course

      Residential lot in established community near beaches, shopping, and dining.
      Lot 55 HARBOR RD, MELFA, VA 23410
      View Details

    FAQs

    What type of property is this?
    Land - 20-acre tract divided into four certified home sites in Melfa, VA.
    Where is this land located?
    The property is located at 0 AIRPORT DR Melfa, VA.
    What is the asking price?
    The asking price for this property is $85,000.
    What are key features of this property?
    This property features: 20‑acre tract subdivided into four 5‑acre home sites; Well & septic certification for conventional septic systems on each lot; Mostly wooded lots offer privacy and natural beauty
    (757) 787-0901
    We can help!
    Listing Contact
    IRENE LEWIN
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!