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    Versatile Commercial Building in Callao Title is generated by Realmo AI

    268 Northumberland Hwy, Callao, VA 22435

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    For Sale
    $299,000

    COMMERCIAL - CALLAO, VA

    Property size:
    4,160 SF
    Price / SF:
    $71/SF
    Added:
    May 28, 2026
    Days on Market:
    7
    Last Refresh:
    Jun 3 at 12:06 pm

    Property Features for 268 Northumberland Hwy

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    B-1
    Standard status
    Active
    APN
    8B(1)102C,102D+
    Size
    4,160 SF

    Taxes and HOA fees

    Tax Description
    DB 345/698

    Building Details

    Year built
    1980

    We can help!

    Listing Contact
    Deborah V. Newsome

    Listing agent Deborah V. Newsome

    Listing office VanLand Realty VanLand Realty P. O. Box 241, Callao, VA

    Listing date May 28, 2026

    MLS# 120502

    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

    • Prime location in the heart of Callao, Northern Neck of Virginia, with good road frontage on Route 360.
    • Opportunity to offset expenses by renting out office spaces to other businesses.
    • 2,080 sq ft per floor (total 4,160 sq ft), offering ample space for various business needs.
    • Full basement with interior/exterior access, featuring a large community room, full kitchen, 2 bathrooms, and storage.
    • First floor designed for multiple businesses with 2 bathrooms.
    • New roof installed in 2025.

    Overview

    This commercial building, currently used as a medical office, offers space for multiple businesses on the first floor, complete with two bathrooms. The full basement, accessible from both inside and outside, features a large open "community room" suitable for various purposes, along with a full kitchen, two bathrooms, and a storage area. Parking is available along the side of the building and near the walk-out basement entrance. The property is located in the heart of Callao in the Northern Neck of Virginia, offering good road frontage on Route 360. This location is suitable for a variety of businesses. The building offers the opportunity to occupy a portion of the building and rent out the other offices. According to county records, each floor measures 2,080 square feet, totaling 4,160 square feet. A new roof was installed in 2025.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Callao
    County
    Northumberland
    State
    Virginia
    Longitude
    -76.5561614
    Latitude
    37.9671881

    Nearby Similar for Sale

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    • $1,610,000
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      Family Dollar Investment Opportunity

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    FAQs

    What type of property is this?
    Medical Office Space - Multi-use commercial building in Callao, ideal for various businesses.
    Where is this medical office space located?
    The property is located at 268 Northumberland Hwy Callao, VA.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: Prime location in the heart of Callao, Northern Neck of Virginia, with good road frontage on Route 360.; Opportunity to offset expenses by renting out office spaces to other businesses.; **2,080 sq ft per floor (total 4,160 sq ft)**, offering ample space for various business needs.
    (804) 529-7225
    We can help!
    Listing Contact
    Deborah V. Newsome
    Request Owner's contact information
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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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