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

    606 Chesapeake Dr White Stone, VA 22578

    Sponsored
    For Sale
    Pending
    $850,000

    Commercial - White Stone, VA

    Property size:
    11,071 SF
    Days on Market:
    10
    Last Refresh:
    Jan 24 at 3:06 pm

    Property Features for 606 Chesapeake Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    Zoning
    C-1
    APN
    34-245
    Interior features
    Other-see Remarks
    Size
    11,071 SF

    Utilities

    Heating system
    Forced Air, Heat Pump (Heating), Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1923
    Flooring type
    Wood
    Building materials
    Block, Brick, Frame
    Roof type
    Wood
    Architectural style
    Other

    We can help!

    Listing Contact
    David & Kathleen Dew
    David & Kathleen Dew

    IsaBell K. Horsley Real Estate (804) 758-2430

    Listing agent David & Kathleen Dew (804) 758-2430

    Listing date Jan 15, 2026

    MLS# 113650 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

    Turn-Key Restaurant and Event Center

    This turn-key business and real estate opportunity features a bar, restaurant, and event center. The sale includes all kitchen equipment, tables, chairs, glasses, and plates. The property is located in a prime location in the Northern Neck and was once the White Stone School House. The building features high ceilings, hardwood floors, and large windows, with multiple rooms suitable for different gatherings. Smaller occasions can be accommodated in the rooms to the right or left of the front door. There is a bar room with a gas fireplace, and a large room off to the side of the bar is suitable for private parties. The large central room can be used daily or for large private parties, and includes both booths and tables, plus a built-in bar. There are two bathrooms, each with multiple stalls, as well as an office/storage room. Outside, there is a deck on the front side and an outdoor area in the back. The property offers ample parking on the front, side, and back. The property is zoned C-1 and is 11,071 square feet. White Stone is getting town sewer, and the area is growing.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    E H Glover ... General Contractor White Stone Event ... Interior Designer The 606 featuring Walkabout ... Restaurant

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Law Firm Auto Repair Shop Wholesale Shop Clothing Store Auto Parts Store Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    White Stone
    County
    Lancaster
    State
    Virginia
    Longitude
    -76.387074
    Latitude
    37.646293

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    FAQs

    What type of property is this?
    Restaurant - Existing bar, restaurant, and event center in prime location.
    Where is this restaurant located?
    The property is located at 606 Chesapeake Dr White Stone, VA.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: - Turn-key bar, restaurant, and event center business and real estate for sale, including all equipment and furnishings.; - Prime location in the Northern Neck with a successful existing business.; - Large space with multiple rooms suitable for various gatherings and private parties.
    (804) 436-3106
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    606 Chesapeake Dr White Stone, VA 22578
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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
    606 Chesapeake Dr White Stone, VA 22578
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    We can help!
    Listing Contact
    David & Kathleen Dew
    David & Kathleen Dew
    (804) 436-3106
    Learn more
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