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    The Largest CRE Database in the US with Over 1 Million Listings

    35 Watling St Urbanna, VA 23175

    Sponsored
    For Sale
    $379,000

    Commercial - Urbanna, VA

    Property size:
    650 SF
    Days on Market:
    128
    Last Refresh:
    Feb 20 at 11:06 pm

    Property Features for 35 Watling St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R 1
    APN
    20A-1-92A
    Interior features
    None
    Size
    650 SF

    Utilities

    Heating system
    Baseboard, Electric (Heating)
    Cooling system
    Multi Units, Window Unit(s)
    Water front features
    0 Feet Of Waterfront

    Building Details

    Year built
    1935
    Building materials
    Block
    Architectural style
    Other

    We can help!

    Listing Contact
    Joshua Griffin

    Bragg & Company Real Estate (804) 436-6787

    Listing agent Joshua Griffin (804) 435-2299

    Listing date Oct 16, 2025

    MLS# 119542 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

    Commercial Building Near Urbanna Marina

    Located in the heart of Urbanna, this well-maintained 650 sq ft commercial building is zoned residential and is situated steps from Urbanna's marina, shops, and restaurants. Constructed in 1935, the property combines historic small-town character with modern business potential. The building features cedar impression siding and a durable metal gable roof. The interior includes two rooms and a half bath. Public water and sewer are in place. The compact 0.018-acre lot offers visibility in one of Urbanna's walkable areas. Currently, the property is divided into two businesses: a hair salon and a boutique selling clothes and jewelry. The salon can be taken over as a turnkey business, while the boutique provides rental income or could be repurposed for salon space, an office, or another retail concept. Existing signage ensures visibility, especially during town events such as Urbanna's Oyster Festival. The Hairport salon business and equipment may also be purchased separately from the sale of the building. This space could serve as a boutique, cafe, art gallery, office, or studio. The property is located in Urbanna, VA, in Middlesex County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Food Market Electronics & Wireless Store Cafe & Coffee Shop (Bike/Boat/Book/etc) Store Restaurant Fish Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Urbanna
    County
    Middlesex
    State
    Virginia
    Longitude
    -76.6196
    Latitude
    37.6507

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    FAQs

    What type of property is this?
    Retail space - 650 sq ft commercial building steps from Urbanna's marina.
    Where is this retail space located?
    The property is located at 35 Watling St Urbanna, VA.
    What is the asking price?
    The asking price for this property is $379,000.
    What are key features of this property?
    This property features: - Prime location in the heart of Urbanna, steps from the marina, shops, and restaurants.; - Zoned residential, offering flexibility for various business or residential uses.; - Turnkey hair salon business opportunity with immediate income potential.
    (804) 506-0111
    Request Owner's contact information
    35 Watling St Urbanna, VA 23175
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    Urbanna, VA 23175
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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
    35 Watling St Urbanna, VA 23175
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    We can help!
    Listing Contact
    Joshua Griffin
    Real Estate License ID: 0225275072
    (804) 506-0111 (804) 435-2299
    Learn more
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