Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Lot 8 Pl Kelly's Gloucester, VA 23061

    View on Map
    Sponsored
    For Sale
    $90,000

    Land And Farms - Gloucester, VA

    Lot size:
    0.24 Acres
    Days on Market:
    9
    Last Refresh:
    Mar 5 at 10:06 am

    Property Features for Lot 8 Pl Kelly's

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RES
    Lot size
    0.24 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Melissa Queeney

    Berkshire Hathaway HomeServices RW Towne Realty (757) 690-0439

    Listing agent Melissa Queeney (757) 690-0439

    Listing date Feb 25, 2026

    MLS# 10621040 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.

    Learn more

    Property Insight Report

    Overview

    Buildable Homesite in Gloucester

    This 0.238-acre buildable homesite is located in Gloucester, Virginia, specifically in Gloucester County. Situated in the cul-de-sac on Kelly’s Place within the Gloucester Town Commons community, Lot #8 offers a peaceful setting. The property is zoned for residential use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Gloucester
    County
    Gloucester
    State
    Virginia
    Longitude
    -76.5499
    Latitude
    37.4386

    Nearby Similar for Sale

    • $699,500
      3,926 SF

      Gloucester Restaurant Opportunity on Main

      Established restaurant property with high visibility and ample parking.
      6870 Main St, Gloucester, VA 23061
      View Details
    • $459,000
      3,136 SF

      Main Street Commercial Opportunity

      Prime commercial property on Main Street in Gloucester County, Virginia.
      7260 Main St, Gloucester, VA 23061
      View Details
    • $699,500
      0.87 Acres

      Established Restaurant in Gloucester Courthouse

      Landmark restaurant property with high visibility and unlimited commercial potential.
      6870 Main St, Gloucester, VA 23061
      View Details
    • $550,000
      2,600 SF

      Retail Property on Main Street

      Retail property available for sale on Main Street.
      6714 Main St, Gloucester, VA 23061
      View Details
    • $299,000
      1,068 SF

      Retail Property with Development Potential

      Retail space on a corner lot with high traffic volume.
      10290 John Clayton Memorial Hwy, Gloucester, VA 23061
      View Details
    • $499,000
      5,000 SF

      Retail Property in Gloucester, Virginia

      Retail property available for sale in Gloucester, Virginia.
      2876 Abingdon Hts Dr, Gloucester, VA
      View Details
    • $619,000

      Hickory Fork Road Specialty Property

      Specialty property on Hickory Fork Road, Gloucester, Virginia.
      3346 Hickory Fork Rd, Gloucester, VA 23061
      View Details
    • Contact for pricing
      8,450 SF

      Modern Office Building For Sale

      Modern office building with updated parking, built in 2012.
      6970 Fox Hunt Ln, Gloucester, VA 23061
      View Details
    • Contact for pricing
      2,200 SF

      Freestanding Restaurant with Drive-Thru

      Freestanding restaurant with a new 15-year lease.
      6975 George Washington Memorial Hwy, Gloucester, VA 23061
      View Details
    • Contact for pricing
      4,685 SF

      Gloucester Office Building For Sale

      Office building with 4,685 square feet of space available.
      6728 Main St, Gloucester, VA 23061
      View Details
    • Contact for pricing
      49,109 SF

      Gloucester Office Building For Sale

      49,109 SF office building available in Gloucester, Virginia.
      6738-6760 Main St, Gloucester, VA 23061
      View Details
    • Contact for pricing
      15,000 SF

      Retail Property in Gloucester, VA

      Retail property available for sale in Gloucester, Virginia.
      6632 Main St, Gloucester, VA 23061
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Buildable homesite in a peaceful community.
    Where is this residential land & home lot located?
    The property is located at Lot 8 Pl Kelly's Gloucester, VA.
    What is the asking price?
    The asking price for this property is $90,000.
    What are key features of this property?
    This property features: - Buildable homesite in desirable Gloucester Town Commons; - Situated in a cul-de-sac for peaceful setting; - Located on Kelly's Place
    (757) 690-0439
    Request Owner's contact information
    Lot 8 Pl Kelly's Gloucester, VA 23061
    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.
    Lot 8 Pl Kelly's
    Gloucester, VA 23061
    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
    Lot 8 Pl Kelly's Gloucester, VA 23061
    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

    We can help!
    Listing Contact
    Melissa Queeney
    (757) 690-0439
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!