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

    51+AC Waterfront Drive Virginia Beach, VA 23451

    View on Map
    For Sale
    $350,000

    Land And Farms - Virginia Beach, VA

    Lot size:
    0.90 Acres
    Added:
    Feb 3, 2026
    Days on Market:
    57
    Last Refresh:
    Apr 1 at 12:06 pm

    Property Features for 51+AC Waterfront Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R-15
    Standard status
    Active
    Lot size
    0.90 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    2454

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Gregory Green

    Listing agent Gregory Green

    Listing office Atkinson Realty 932 Laskin Rd. #300, Virginia Beach, VA

    Listing date Feb 3, 2026

    MLS# 10618527 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.

    Overview

    Virginia Beach Land Opportunity

    This property offers approximately 39,635 square feet of R-15 zoned land within the established Birdneck Acres neighborhood of Virginia Beach. The level, heavily wooded parcel features 107 feet of road frontage and extends approximately 372 feet in depth, measuring about 106 feet wide at the rear. This provides flexibility for a custom home or residential development, subject to city approval. Public water, sewer, and utilities are available. The location is minutes from Virginia Beach's oceanfront, boardwalk, and Hilltop shopping district, with convenient access to Birdneck Road, Virginia Beach Boulevard, and I-264. Nearby parks, dining, retail options, and everyday conveniences are accessible within a quiet residential setting. This property offers a blend of coastal lifestyle, accessibility, and long-term value, presenting an opportunity for builders or buyers seeking space, privacy, and location.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Virginia Beach
    County
    Virginia Beach
    State
    Virginia
    Longitude
    -76.0008
    Latitude
    36.8632

    Nearby Similar for Sale

    • $979,999
      4,804 SF

      Commercial Property in Growing Corridor

      Well-located commercial property suitable for various business uses.
      1702 Southern Boulevard, Virginia Beach, VA 23454
      View Details
    • $534,900
      960 SF

      Versatile Showroom/Office Space For Sale

      Single-story showroom/office space with high traffic exposure in Virginia Beach.
      2640 Virginia Beach Boulevard, Virginia Beach, VA 23452
      View Details
    • $799,000
      1,900 SF

      Commercial Land in High-Traffic Area

      Prime commercial opportunity in Indian River, Virginia Beach.
      6041 Indian River Road, Virginia Beach, VA 23464
      View Details
    • $790,000
      2,097 SF

      Commercial Property on Virginia Beach

      Freestanding commercial property with high visibility and redevelopment potential.
      3794 Virginia Beach Boulevard, Virginia Beach, VA 23452
      View Details
    • $310,000
      1,149 SF

      Office Space on Independence Boulevard

      Office space available for purchase on Independence Boulevard.
      1137 Independence Boulevard, Virginia Beach, VA 23455
      View Details
    • $399,900

      Waterfront Land with Back Bay Views

      Waterfront lot in gated resort community near the Atlantic Ocean.
      3665 Sandpiper Road, Virginia Beach, VA 23456
      View Details
    • $1,150,000
      5,500 SF

      Virginia Beach Multi-Use Building

      Multi-use building near the Interstate with updated features and ample parking.
      121 Landmark Square, Virginia Beach, VA 23452
      View Details
    • $525,000

      25+ Acres Wooded Land

      25+ acres of wooded land in Virginia Beach.
      1832 Munden Point Road, Virginia Beach, VA 23457
      View Details
    • $1,300,000

      Virginia Beach Land Parcel

      2+ acre parcel with development opportunities in Virginia Beach.
      5845 Burton Station Road, Virginia Beach, VA 23455
      View Details
    • $1,200,000
      4,920 SF

      Virginia Beach Quadruplex Investment Opportunity

      Rare side-by-side quadruplex near Oceana Naval Air Station.
      315 Roselynn Lane, Virginia Beach, VA 23454
      View Details
    • $360,000

      Waterfront Resort Property Near Ocean

      Resort property with waterfront views, amenities, and beach access.
      3665 Sandpiper Road, Virginia Beach, VA 23456
      View Details
    • $269,900

      Waterfront Lot with Bay Views

      Waterfront lot in gated resort community with impressive amenities.
      3665 Sandpiper Road, Virginia Beach, VA 23456
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential land in Birdneck Acres neighborhood, near Virginia Beach.
    Where is this residential land & home lot located?
    The property is located at 51+AC Waterfront Drive Virginia Beach, VA.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: Large R‑15 Zoned Parcel: Offers 39,635+\/- sq ft of land, ideal for a custom home or residential development (subject to city approval).; Prime Location: Minutes from Virginia Beach oceanfront, boardwalk, and Hilltop shopping district.; Public Utilities Available: Includes public water, sewer, and utilities.
    (757) 425-2500
    We can help!
    Listing Contact
    Gregory Green
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!