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    5557 Main St Chincoteague, VA 23336

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    For Sale
    $2,800,000

    Large waterfront property with development potential and bayfront access.

    Lot size:
    5.59 Acres

    Property Features for 5557 Main St

    General Information

    Lot size
    5.59 Acres

    Building Details

    Year built
    1969

    Source: Beach Bay Realty Agent Angela Abell

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Waterfront Estate with Development Potential

    This 5.6-acre waterfront property presents development possibilities. The estate features a luxurious home with four bedrooms and three and a half bathrooms, along with a finishable attic plumbed for an additional bath. A guest suite is located above the two-car attached garage. The property is filled and permitted, making it suitable for building and subdivision. A canal runs along the side of the property, offering bayfront access and potential for a boat house. The site includes on-site ponds and bulkheading, providing waterviews and a natural setting.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Wholesale Shop Hair Salon Nail Salon Hotel & Motel HVAC Service Barber Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Chincoteague
    County
    Accomack
    State
    Virginia
    Longitude
    -75.3470299
    Latitude
    37.9556601

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    FAQs

    What type of property is this?
    Commercial land - Large waterfront property with development potential and bayfront access.
    Where is this commercial land located?
    The property is located at 5557 Main St Chincoteague, VA.
    What is the asking price?
    The asking price for this property is $2,800,000.
    What are key features of this property?
    This property features: - 5.6 acre waterfront estate with bayfront access; - Sub-dividable and buildable land (filled and permitted); - Canal frontage with boat house
    (757) 710-1598
    Request Owner's contact information
    5557 Main St Chincoteague, VA 23336
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    Chincoteague, VA 23336
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    Realmo Value Estimation

    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.

    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.

    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
    5557 Main St Chincoteague, VA 23336
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