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    Turn-Key Diner, Farm Stand & Retail Title is generated by Realmo AI

    3515 Main Street, Exmore, VA 23350

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    For Sale
    $550,000

    COMMERCIAL - Exmore, VA

    Property size:
    10,000 SF
    Lot size:
    0.78 Acres
    Price / SF:
    $55/SF
    Added:
    Jan 5, 2026
    Days on Market:
    150
    Last Refresh:
    Jun 4 at 3:06 pm

    Property Features for 3515 Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    COMM
    Parking features
    Off Street
    Standard status
    Active
    Size
    10,000 SF
    Lot size
    0.78 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2000

    Utilities

    Cooling system
    Central Air, Heat Pump

    Building Details

    Year built
    1965
    Roof type
    Metal

    We can help!

    Listing Contact
    Ann Kaplan

    Listing agent Ann Kaplan

    Listing office EXP Realty LLC 780 Lynnhaven Pkwy Ste 400, Ashburn, VA

    Listing date Jan 5, 2026

    MLS# 10615104 Listing URL

    Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 9,912 total sq. ft. of leasable commercial space for multiple income streams (retail, office, or creative businesses)
    • Turn‑key diner/restaurant & farm stand includes some equipment
    • 10' high ceilings and flexible floor plan
    • New HVAC system with central air and heat pump
    • Metal roof; on city sewer and city water
    • Farm stand has separate electrical meter and running water

    Overview

    Turn-key diner/restaurant and farm stand with some equipment, offering a flexible layout designed to support multiple income streams. The building provides 10' high ceilings and a total of 9,912 leasable square feet, with a configuration that can support retail, office, or creative business uses. Recent improvements include a new HVAC system, and utilities are serviced by city sewer and city water.

    Situated in a vibrant industrial and business district, the property offers visibility from R. 13 and sits behind McDonald’s, Hardee’s, and three nearby hotels. The site also backs up to the ESVA Rail Trail, a 49-mile walking and biking trail along the historic Eastern Shore railroad corridor, supporting steady pedestrian traffic potential.

    The combination of restaurant readiness and a fully equipped farm stand makes this property well-suited for an operator seeking a plug-in concept or an investor targeting varied tenant demand. The farm stand includes a separate electrical meter and running water, which can help support day-to-day operations with minimal added infrastructure. With room to adapt the remaining space for additional uses, this offering is positioned for investors or owner-operators looking for diversified commercial income in Exmore, Virginia.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Exmore Flea Market (Bike/Boat/Book/etc) Store Dave's Pets (Bike/Boat/Book/etc) Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Exmore
    County
    Northampton
    State
    Virginia
    Longitude
    -75.82506
    Latitude
    37.525599

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    FAQs

    What type of property is this?
    Breakfast & diner - Flexible commercial building configured for dining and farm stand operations with modern HVAC and city utilities.
    Where is this breakfast & diner located?
    The property is located at 3515 Main Street Exmore, VA.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: 9,912 total sq. ft. of leasable commercial space for multiple income streams (retail, office, or creative businesses); Turn‑key diner/restaurant & farm stand includes some equipment; 10' high ceilings and flexible floor plan
    (866) 825-7169
    We can help!
    Listing Contact
    Ann Kaplan
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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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