Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Waterfront Lot with Bay Views Title is generated by Realmo AI

    1 WOODLAND DR lot 1, Chincoteague, VA 23336

    View on Map
    Claim this Listing
    For Sale
    $410,000

    LAND - CHINCOTEAGUE, VA

    Lot size:
    0.73 Acres
    Added:
    Mar 26, 2026
    Days on Market:
    57
    Last Refresh:
    May 21 at 5:06 pm

    Property Features for 1 WOODLAND DR lot 1

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    31-16-1
    Lot size
    0.73 Acres

    Utilities

    Water front features
    Waterfront
    Water front
    1

    We can help!

    Listing Contact
    Angie Conklin Abell

    Listing agent Angie Conklin Abell

    Listing office BEACH BAY REALTY, LLC 6202 MADDOX BLVD, Chincoteague, VA

    Listing date Mar 26, 2026

    MLS# 71103 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

    • .728‑acre waterfront lot overlooking Little Oyster Bay
    • Breathtaking views of the Assateague Channel and Assateague Island
    • Highly desirable location
    • Minutes to the beach and Refuge
    • Peaceful setting
    • Survey on file

    Overview

    This 0.728-acre waterfront lot offers an opportunity to build a coastal retreat with views of Little Oyster Bay, the Assateague Channel, and Assateague Island. Located in Chincoteague, Virginia, the property is positioned in a peaceful setting and is near the beach and Refuge. A survey is on file for the land.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Real Estate Agency Restaurant Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Pharmacy Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chincoteague
    County
    Accomack
    State
    Virginia
    Longitude
    -75.3466889
    Latitude
    37.9303859

    Nearby Similar for Sale

    • $990,000
      6,970 SF

      Chincoteague Island Inn and Restaurant

      Award-winning inn and restaurant in the heart of Chincoteague.
      6228 CHURCH ST, CHINCOTEAGUE, VA 23336
      View Details
    • $598,000
      440 SF

      Turnkey Adventure Park Business Opportunity

      Established adventure park on 0.25 acres with commercial structure.
      4368 PENSION, CHINCOTEAGUE, VA 23336
      View Details
    • $199,000

      Prime Commercial Land Opportunity

      Vacant lot with C-1 zoning in high-visibility location.
      6497 CHURCH ST lot: 4, CHINCOTEAGUE, VA 23336
      View Details
    • $980,000
      3,114 SF

      Prime Corner Lot Storefront Opportunity

      Well-established commercial storefront in a prime island location.
      4065 MAIN St, Chincoteague, VA 23336
      View Details
    • $1,800,000
      4,053 SF

      Chincoteague Island Investment Opportunity

      26-unit hospitality property near Chincoteague's attractions.
      6151 MADDOX BLVD, CHINCOTEAGUE, VA 23336
      View Details
    • $499,000
      6,120 SF

      Historic Chincoteague Commercial Building

      Versatile 6,120 SF commercial building in recognizable Chincoteague location.
      4108* MAIN ST, CHINCOTEAGUE, VA 23336
      View Details
    • $950,000

      Waterfront Land on Chincoteague Channel

      Prime waterfront land near the ocean with multi-use zoning.
      MAIN ST lot: 44, CHINCOTEAGUE, VA 23336
      View Details
    • $650,000
      2,310 SF

      Downtown Chincoteague Commercial Retail Space

      Prime downtown location with high ceilings and display windows.
      4090 MAIN ST, CHINCOTEAGUE, VA 23336
      View Details
    • $950,000

      Waterfront Land on Chincoteague Channel

      Prime waterfront land with multi-use C4 zoning and sunset views.
      MAIN ST, CHINCOTEAGUE, VA 23336
      View Details
    • $859,000
      5,608 SF

      Chincoteague Commercial Cottages with Pool

      Turn-key cottages with pool near commercial area in Chincoteague.
      4327* KATSETOS LANE, CHINCOTEAGUE, VA 23336
      View Details
    • $125,000

      Chincoteague Island Homesites Opportunity

      Two combined homesites in Oyster Bay II community on Chincoteague.
      267/268 WILD PONY COURT lot: 267/8, CHINCOTEAGUE, VA 23336
      View Details
    • $164,000

      Coastal Homesite Near Assateague Island

      Homesite near Assateague Island, offering coastal living opportunities.
      OAK DR lot: 19E, CHINCOTEAGUE, VA 23336
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - 0.73-acre waterfront lot with views of Assateague Channel.
    Where is this waterfront land located?
    The property is located at 1 WOODLAND DR lot 1 Chincoteague, VA.
    What is the asking price?
    The asking price for this property is $410,000.
    What are key features of this property?
    This property features: .728‑acre waterfront lot overlooking Little Oyster Bay; Breathtaking views of the Assateague Channel and Assateague Island; Highly desirable location
    (757) 710-1598
    We can help!
    Listing Contact
    Angie Conklin Abell
    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
    1 WOODLAND DR lot: 1, CHINCOTEAGUE, VA 23336
    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!