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    89 N Main St Kilmarnock, VA 22482

    Sponsored
    For Sale
    $395,000

    Commercial - Kilmarnock, VA

    Property size:
    2,527 SF
    Lot size:
    0.50 Acres
    Days on Market:
    1
    Last Refresh:
    Feb 1 at 4:06 pm

    Property Features for 89 N Main St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    C-1
    APN
    23A-21-23
    Parking features
    Paved or Surfaced
    Interior features
    Living Space Available, Other-see Remarks
    Size
    2,527 SF
    Lot size
    0.50 Acres

    Utilities

    Heating system
    Heat Pump (Heating)
    Cooling system
    Central Air
    Water front features
    0 Feet Of Waterfront

    Building Details

    Year built
    1910
    Flooring type
    Wood
    Building materials
    Frame
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Emily Carter

    JIM & PAT CARTER REAL ESTATE, INC (804) 435-3131

    Listing agent Emily Carter (804) 435-3131

    Listing date Feb 1, 2026

    MLS# 119888 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

    Kilmarnock Commercial Hub Opportunity

    Located in the center of the Northern Neck's commercial hub, this property is within walking distance of shops, restaurants, the post office, and Town Center Park. The approximately one-half acre corner lot offers frontage on Main Street and Brent Street, along with ample off-street parking. This location presents an opportunity to be part of a regional renaissance with a high-profile presence. The iconic building, situated in the historic Steptoes District of Kilmarnock, features a charming classic style. The early twentieth-century design includes craftsman elements such as a front porch with tapered columns, a hip roof, double-hung windows with stained glass accents, stained wood floors and trim details, and an open stairway with a square box newel post. The interior features three spacious, light-filled rooms, a newly renovated bath, and a kitchen on the first floor. The second floor offers four bright rooms and an updated bath. A sizeable wrap-around verandah provides an informal work or entertainment space. Practical amenities include access to high-speed internet, paved parking in the rear, and town sewer and water. The property size is 2527 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Isabell K Horsley ... Real Estate Agency FedEx Drop Box Mailing Service American Title of Lancaster, ... Insurance Agency

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Building Supply Wholesale Shop Auto Repair Shop Hair Salon Hotel & Motel

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

    Similar Places Nearby

    Green House Flowers, Seeds & More

    Location Insight

    • Map
    • Local Demand
    City
    Kilmarnock
    County
    Lancaster
    State
    Virginia
    Longitude
    -76.38143
    Latitude
    37.7133355

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    FAQs

    What type of property is this?
    Storefront property - Prime commercial lot in the heart of Kilmarnock, Virginia.
    Where is this storefront property located?
    The property is located at 89 N Main St Kilmarnock, VA.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: - Prime location in the heart of Kilmarnock's commercial hub, walking distance to shops, restaurants, and Town Center Park.; - Iconic early twentieth-century building with craftsman elements including a porch with tapered columns, hip roof, stained glass, and wood floors.; - Versatile property suitable for a high-profile business or a charming home.
    (804) 435-3131
    Request Owner's contact information
    89 N Main St Kilmarnock, VA 22482
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    Kilmarnock, VA 22482
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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
    89 N Main St Kilmarnock, VA 22482
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    We can help!
    Listing Contact
    Emily Carter
    (804) 435-3131
    Learn more
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