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    12910 John Clayton Mem Highway North, VA 23128

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    For Sale
    $425,000

    MULTI_FAMILY - Other - North, VA

    Property size:
    2,574 SF
    Lot size:
    2.97 Acres
    Added:
    Apr 16, 2026
    Days on Market:
    4
    Last Refresh:
    Apr 19 at 4:06 pm

    Property Features for 12910 John Clayton Mem Highway

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Off Street, Garage
    Exterior features
    OutBuildings
    Fencing
    Fenced
    Accessibility
    Accessible Approach with Ramp
    Appliances
    ElectricWaterHeater
    Standard status
    Active
    APN
    18-A-15
    Size
    2,574 SF
    Lot size
    2.97 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    INST #22-687 DDB 265-656 PB 17-602.9397 ACRES
    Tax Annual Amount
    1600

    Utilities

    Sewer type
    Engineered Septic, Septic Tank
    Water source
    Well

    Building Details

    Year built
    1945
    Floors in Building
    2
    Number of units
    2
    Building materials
    AluminumSiding, Drywall, Frame, VinylSiding
    Roof type
    Composition
    Architectural style
    Other
    Additional Structures
    Outbuilding

    We can help!

    Listing Contact
    Lisa Atkins
    Lisa Atkins

    Listing agent Lisa Atkins License #0225233153

    Listing office Iron Valley Real Estate Hampton Roads 200 Bendix Road, #270, Virginia Beach, VA

    Listing date Apr 16, 2026

    MLS# 202600614 Listing URL

    Copyright © 2026 Chesapeake Bay & Rivers 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

    Versatile Income-Generating Mixed-Use Property

    This versatile property, situated on 2.97 private acres, presents a unique investment and business opportunity with multiple income streams already in place. The property features a duplex with two rental units: a 2-bedroom unit on the first floor and a studio apartment on the second floor. Both units have been recently remodeled inside, offering turnkey residential income or owner-occupancy with supplemental rent. A separate shop building, complete with its own address and septic system, provides established rental income and supports a wide range of business uses. This makes it an excellent option for entrepreneurs, contractors, or investors seeking commercial potential alongside residential income. A shared well services both the duplex and the shop. Additional features include a detached garage building, providing ample storage. With three total rental opportunities and mixed-use flexibility, this property, totaling 2574 square feet, is well-suited for investors looking to expand their portfolio or buyers seeking a live/work setup in North, VA.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Grocery & Convenience Store Bed & Breakfast Restaurant Food Market Fish Market Farmer's Market Parking Lot & Garage

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    North
    County
    Mathews
    State
    Virginia
    Longitude
    -76.3799
    Latitude
    37.471

    FAQs

    What type of property is this?
    Mixed-use property - Unique investment opportunity with residential and commercial income potential.
    Where is this mixed-use property located?
    The property is located at 12910 John Clayton Mem Highway North, VA.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: Multiple income streams from duplex (2 units) and separate shop building.; 3 private acres offering privacy and potential.; Recently remodeled duplex units providing turnkey residential income.
    (804) 832-0974
    We can help!
    Listing Contact
    Lisa Atkins
    Lisa Atkins
    Real Estate License ID: 0225233153
    Learn More
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    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
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