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    Historical Bank Building For Sale Title is generated by Realmo AI

    25514 E MAIN ST., Onley, VA 23418

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    For Sale
    $599,000

    COMMERCIAL - ONLEY, VA

    Property size:
    2,400 SF
    Lot size:
    0.50 Acres
    Price / SF:
    $249/SF
    Added:
    Feb 14, 2026
    Days on Market:
    96
    Last Refresh:
    May 21 at 6:06 pm

    Property Features for 25514 E MAIN ST.

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    93C1-A-60 *
    Size
    2,400 SF
    Lot size
    0.50 Acres

    Building Details

    Year built
    1904

    We can help!

    Listing Contact
    MATTHEW D. HART, BPOR

    Listing agent MATTHEW D. HART, BPOR

    Listing office THE MATTHEW HART CORPORATION 25526 East Main Street P.O. Box 871, Onley, VA

    Listing date Feb 14, 2026

    MLS# 67848

    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.

    HighLights

    • Historic Farmers and Merchants National Bank (circa 1904) and Western Union building (circa 1914)
    • Currently leased to the ES public library for $1600/month
    • Owner financing available
    • Completely restored
    • Includes 3 vaults with original doors and a restored original safe
    • Attractive privacy brick wall/outdoor seating area with tables, chairs, and umbrellas

    Overview

    The property consists of a completely restored historical Farmers and Merchants National Bank building, dating back to circa 1904, and the Western Union building, circa 1914. Previously home to Crossroads Coffee Shop, LLC, the buildings are currently leased to the ES public library for $1600 per month. The property features three vaults with original doors and an original restored safe. An attractive privacy brick wall encloses an outdoor seating area equipped with tables, chairs, and umbrellas. The lot size is 0.5 acres, and the property size is 2400 square feet. The owner is willing to hold the financing on this property, please inquire for details. This building/business is turnkey.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Banks

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Building Supply Hair Salon Restaurant Auto Repair Shop Dental Office Big Box & Wholesale Store Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Onley
    County
    Accomack
    State
    Virginia
    Longitude
    -75.7163191
    Latitude
    37.6905891

    Nearby Similar for Sale

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    • $275,000
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      Spacious 1920s Home with Character

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    • $175,000
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      Renovated Commercial Building in Onley

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    FAQs

    What type of property is this?
    Bank - Restored historical bank and Western Union building, currently leased.
    Where is this bank located?
    The property is located at 25514 E MAIN ST. Onley, VA.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: Historic Farmers and Merchants National Bank (circa 1904) and Western Union building (circa 1914); Currently leased to the ES public library for $1600/month; Owner financing available
    (757) 710-4145
    We can help!
    Listing Contact
    MATTHEW D. HART, BPOR
    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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