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    Like-New Warehouse/Office Building on Highway Title is generated by Realmo AI

    1468 Lake Road, Lottsburg, VA 22511

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    For Sale
    $799,000

    Commercial - Lottsburg, VA

    Property size:
    16,000 SF
    Price / SF:
    $49/SF
    Added:
    Mar 12, 2026
    Days on Market:
    68
    Last Refresh:
    May 18 at 7:06 pm

    Property Features for 1468 Lake Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Agricultural
    Interior features
    Three Phase Electric, Other-see Remarks
    Standard status
    Active
    APN
    10-1-195B
    Size
    16,000 SF

    Utilities

    Utilities
    Electricity Available
    Heating system
    Heat Pump (Heating), See Remarks (Heating)
    Cooling system
    Heat Pump

    Building Details

    Year built
    2020
    Flooring type
    Concrete
    Building materials
    Frame, Other
    Architectural style
    Other

    We can help!

    Listing Contact
    Steve Jones
    Steve Jones

    Listing agent Steve Jones

    Listing office Middle Bay Realty - B PO Box 307, Kilmarnock, VA

    Listing date Mar 12, 2026

    MLS# 120080 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.

    HighLights

    • Substantially under appraised value: Offered at over $150,000 less than a recent appraisal.
    • Like‑new construction: Built in 2020 with a 16,000 sq ft metal building.
    • Functional office/warehouse space suitable for various operational uses.
    • Excellent accessibility with direct access to Rt 360.
    • Advanced infrastructure: Features 480 Volts‑3 Phase electrical, reinforced concrete floors, efficient heating/cooling, and high ceilings.
    • Practical loading includes 2 grade‑level garage doors and ample parking.

    Overview

    Located in the Northern Neck of Virginia, this property at 1468 Lake Road in Lottsburg offers a business opportunity with direct access to Rt 360, a main intrastate highway. The property features a 16,000 square foot metal-constructed building erected in 2020, blending office and warehouse/industrial space. It includes 2 grade-level garage doors, 480 Volts-3 Phase electrical, reinforced concrete floors, efficient heating and cooling, insulation, custom lighting, and tall ceilings. The building has parking both inside and out. The property is positioned on a level parcel, supporting logistics and regional connectivity. The building's configuration and access allow for operational customization. The property is zoned for agricultural use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bolt's Saw Services ... Building Supply

    Map

    City
    Lottsburg
    County
    Northumberland
    State
    Virginia
    Longitude
    -76.4945429
    Latitude
    37.966106

    Nearby Similar for Sale

    • $799,000
      16,000 SF

      Like-New Warehouse/Industrial Space Opportunity

      16,000 SF office/warehouse on level parcel with highway access.
      1468 Lake Road, Lottsburg, VA 22511
      View Details
    • $129,500

      Waterfront Lot on King Cote Creek

      Waterfront lot with barn, pier, and boat lift.
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    FAQs

    What type of property is this?
    Warehouse - 16,000 SF office/warehouse on level lot with highway access.
    Where is this warehouse located?
    The property is located at 1468 Lake Road Lottsburg, VA.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: Substantially under appraised value: Offered at over $150,000 less than a recent appraisal.; Like‑new construction: Built in 2020 with a 16,000 sq ft metal building.; Functional office/warehouse space suitable for various operational uses.
    (804) 761-7318
    We can help!
    Listing Contact
    Steve Jones
    Steve Jones
    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.

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