Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Land in Parksley, Virginia Title is generated by Realmo AI

    0 ALICATO RD, Parksley, VA 23421

    View on Map
    Claim this Listing
    Pending
    $68,000

    Land - PARKSLEY, VA

    Lot size:
    4.93 Acres
    Added:
    Nov 1, 2024
    Days on Market:
    565
    Last Refresh:
    May 19 at 5:06 pm

    Property Features for 0 ALICATO RD

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    Lot size
    4.93 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    IRENE LEWIN

    Listing agent IRENE LEWIN

    Listing office LEWIN & CARR INC. ONANCOCK, VA

    Listing date Nov 1, 2024

    MLS# 63439 Listing URL

    Copyright © 2026 Eastern Shore 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

    • Approximately 4.93 acres of cleared, even‑grade land.
    • Located in the tranquil Eastern Shore.
    • Good elevations on the property.
    • Minimum home size restriction of only 750 sq ft.
    • 35' setback from the road.
    • 25' setback from boundary lines.

    Overview

    This property features approximately 4.93 acres of even-grade, cleared land with good elevations. Located on Alicato Road in the Eastern Shore, the property offers a tranquil setting. Restrictions include a minimum home size of 750 square feet, a 35-foot setback from the road, and a 25-foot setback from the boundary lines. The property is located in PARKSLEY, VA 23421.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Parksley
    County
    Accomack
    State
    Virginia
    Longitude
    -75.590614
    Latitude
    37.749178

    Nearby Similar for Sale

    • $777,000

      Parksley Farm Land For Sale

      45.28 acre farm land with highway frontage near commercial area.
      0 LANKFORD HWY, parksley, VA 23421
      View Details
    • $45,000

      Parksley Land Near Boat Launch

      Cleared building lot near Hunting Creek and Johnson's Landing.
      0 LEE MONT RD, PARKSLEY, VA 23421
      View Details
    • $777,000

      Parksley Farmland with Highway Frontage

      45.28 acre farm with significant highway frontage.
      0 LANKFORD HWY, PARKSLEY, VA 23421
      View Details
    • $35,900

      Parksley, VA Cleared Land

      1.15 acre cleared lot in Ocean View community.
      Lot 55 LEWIS LANE, PARKSLEY, VA 23421
      View Details
    • $75,000

      Pondfront Lot in Ocean View

      Cleared, flat 1.02-acre lot with community boat access.
      Lot 67 CRIPPEN VIEW, PARKSLEY, VA 23421
      View Details
    • $1,950,000

      160+ Acre Dual-Water Property

      Rare 160+ acre property with pond and creek.
      #57,#154 METOMPKIN RD, parksley, VA 23421
      View Details
    • $1,950,000

      Expansive Dual-Water Agricultural Land

      Over 160 acres with pond, creek, and fertile soil.
      #57,#154 METOMPKIN RD, PARKSLEY, VA 23421
      View Details
    • $47,500

      Cleared Land Near Ocean Access

      Large, level building lot near public boat ramp.
      Lot 14 PINE DR, PARKSLEY, VA 23421
      View Details
    • $32,500

      Cleared Lot in Ocean View

      Flat, cleared 1.11-acre lot with community boat access.
      Lot 10 CRIPPEN VIEW, PARKSLEY, VA 23421
      View Details
    • $32,500

      Cleared Lot in Ocean View

      Flat 1.11-acre lot near community boat ramp and pier.
      Lot 63 LEWIS LANE, PARKSLEY, VA 23421
      View Details
    • $20,000

      Cleared Lot in Gated Community

      1.11 acre lot in waterfront community with pier.
      46 OCEAN VIEW WAY, PARKSLEY, VA 23421
      View Details
    • $79,000

      5.75 Acres on Lankford Highway

      5.75-acre property zoned Agricultural, offering flexibility for various uses.
      5.75 AC LANKFORD HWY, PARKSLEY, VA 23417
      View Details

    FAQs

    What type of property is this?
    Land - 4.93 acres of cleared land in Parksley, Virginia.
    Where is this land located?
    The property is located at 0 ALICATO RD Parksley, VA.
    What is the asking price?
    The asking price for this property is $68,000.
    What are key features of this property?
    This property features: Approximately 4.93 acres of cleared, even‑grade land.; Located in the tranquil Eastern Shore.; Good elevations on the property.
    (757) 787-0901
    We can help!
    Listing Contact
    IRENE LEWIN
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    0 ALICATO RD, PARKSLEY, VA 23421
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!