Sign Up Successful!
You now have access to more from Realmo!
    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

    140 Chesapeake Dr White Stone, VA 22578

    Sponsored
    For Sale
    $895,000

    Commercial - White Stone, VA

    Property size:
    10,940 SF
    Days on Market:
    1
    Last Refresh:
    Feb 1 at 1:06 pm

    Property Features for 140 Chesapeake Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    C-1
    APN
    Part of34A-3-18
    Exterior features
    Additional Building, Delivery Door
    Size
    10,940 SF

    Utilities

    Heating system
    Baseboard, Electric (Heating)
    Water front features
    0 Feet Of Waterfront

    Building Details

    Year built
    1965
    Flooring type
    Concrete, Tile, Vinyl
    Building materials
    Block
    Roof type
    Other
    Architectural style
    Other

    We can help!

    Listing Contact
    Emily Carter

    JIM & PAT CARTER REAL ESTATE, INC (804) 435-3131

    Listing agent Emily Carter (804) 435-3131

    Listing date Feb 1, 2026

    MLS# 119892 Listing URL

    Copyright © 2026 Northern Neck 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.

    Learn more

    Property Insight Report

    Overview

    Versatile Commercial Property in White Stone

    This commercial property is located in White Stone, VA, and features road frontage along Virginia Route 200 (Chesapeake Drive). The property includes two industrial-type buildings and is served by public water, sewer, and high-speed internet. One building, previously used as an automobile repair business, offers 7,520 square feet. This includes 1,200 square feet of retail space, a second floor with 720 square feet for reception and office use, and over 5,500 square feet of shop space. The second building, formerly a machine shop, provides 3,420 square feet. Most of the site is paved, offering ample parking. The property is zoned C-1 general commercial district, intended for general business requiring direct public access. Permitted uses include retail stores, banks, theaters, business offices, newspaper offices, beauty salons, restaurants, taverns, garages, and service stations. The property's location and visibility on a main highway, combined with its zoning and utilities, make it suitable for commercial or industrial applications requiring significant visibility.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Law Firm Wholesale Shop Auto Repair Shop Clothing Store Auto Parts Store Gym & Fitness

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

    Similar Places Nearby

    KC Glass, Inc, Elbourn's Towing & Recovery

    Location Insight

    • Map
    • Local Demand
    City
    White Stone
    County
    Lancaster
    State
    Virginia
    Longitude
    -76.393667
    Latitude
    37.6509786

    Nearby Similar for Sale

    • $850,000
      Pending

      Turn-Key Restaurant and Event Center

      Existing bar, restaurant, and event center in prime location.
      606 Chesapeake Dr, White Stone, VA 22578
      View Details
    • $525,000
      0.49 Acres

      Renovated Victorian in White Stone

      Three-story renovated Victorian suitable for retail, commercial, or investment.
      419 Rappahannock Dr, White Stone, VA 22578
      View Details
    • $525,000
      3,330 SF

      Renovated Victorian Mixed-Use Building

      Three-story renovated Victorian with retail, office, and residential potential.
      419 Rappahannock Dr, White Stone, VA 22578
      View Details
    • $525,000
      0.49 Acres

      Renovated Victorian Property on Rt. 3

      Three-story renovated Victorian property with retail, office, and residential potential.
      419 Rappahannock Dr, White Stone, VA 22578
      View Details
    • $175,000
      1.60 Acres

      Lancaster, VA Farm Land

      1.6 acre lot near Windmill Point Marina.
      Windmill Point Rd, White Stone, VA 22578
      View Details

    FAQs

    What type of property is this?
    Auto shop - Commercial property with road frontage, two buildings, and ample parking.
    Where is this auto shop located?
    The property is located at 140 Chesapeake Dr White Stone, VA.
    What is the asking price?
    The asking price for this property is $895,000.
    What are key features of this property?
    This property features: - Prime location on Virginia Route 200 (Chesapeake Drive) in the Northern Neck with high traffic and visibility.; - Zoned C-1 general commercial, allowing for a wide range of business uses (retail, office, service, etc.).; - Two industrial-type buildings totaling 10,940 square feet.
    (804) 435-3131
    Request Owner's contact information
    140 Chesapeake Dr White Stone, VA 22578
    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.
    140 Chesapeake Dr
    White Stone, VA 22578
    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
    140 Chesapeake Dr White Stone, VA 22578
    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

    We can help!
    Listing Contact
    Emily Carter
    (804) 435-3131
    Learn more
    Google sign-in failed. Please try again or use another login method.