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    Spacious Multi-Purpose Building For Lease Title is generated by Realmo AI

    1399 Centerville Road, Shacklefords, VA 23156

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    Claim this Listing
    For Lease
    $3,000 /Mo

    COMMERCIAL - Shacklefords, VA

    Added:
    Nov 18, 2025
    Days on Market:
    184
    Last Refresh:
    May 21 at 8:06 am

    Property Features for 1399 Centerville Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking
    10
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    23-135X-166A (part of)

    Taxes and HOA fees

    Tax Description
    CENTERVILLE

    Utilities

    Sewer type
    Septic Tank, Shared Septic
    Heating system
    Zoned, Heat Pump (Heating), Electric (Heating)
    Cooling system
    Central Air
    Water source
    Well

    Building Details

    Year built
    2000
    Floors in Building
    1
    Building materials
    MetalSiding, VinylSiding
    Roof type
    Metal

    We can help!

    Listing Contact
    Kim S. Williams

    Listing agent Kim S. Williams License #0225045014

    Listing office Sears Real Estate & Appraisals Post Office Box 489, Shacklefords, VA

    Listing date Nov 18, 2025

    MLS# 202500310

    Copyright © 2026 Chesapeake Bay & Rivers 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

    • Very spacious multi‑purpose building with multiple rooms suitable for various uses.
    • Riverstreet fiberoptic internet.
    • Lots of paved parking spaces and handicapped accessible with accessible approach and ramp.
    • Includes two handicapped baths and a kitchenette.
    • Convenient location with frontage on Lewis B. Puller Memorial Highway and Centerville Road.
    • Water and sewer are included in the lease.

    Overview

    This spacious multi-purpose building, available for lease, is divided into several rooms and features three entrance doors. The interior has been freshly painted. The layout includes a reception area, two conference rooms, four smaller private offices, and three large general purpose areas. It also contains two handicapped accessible bathrooms and a kitchenette. The property is equipped with Riverstreet fiberoptic internet. There are many paved parking spaces available, and the building is handicapped accessible. Water and sewer services are included in the lease. Located with frontage on Lewis B. Puller Memorial Highway and Centerville Road in Shacklefords, Virginia, the property offers visibility and accessibility. The building can be used for various purposes. The tenant reimburses the landlord in the fall for half of the yard maintenance. The landlord will also consider a lease/purchase option.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Job Assistance Center ... Business Service Center

    Suggested Use

    Real Estate Agency Auto Repair Shop Auto Parts Store Food Market Tattoo & Piercing Shop Farmer's Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Shacklefords
    County
    King and Queen
    State
    Virginia
    Longitude
    -76.734609
    Latitude
    37.549011

    FAQs

    What type of property is this?
    Office units - Multi-room commercial building with parking, suitable for various purposes.
    Where is this office units located?
    The property is located at 1399 Centerville Road Shacklefords, VA.
    What is the lease rate?
    The lease rate is $3,000 /Mo.
    What are key features of this property?
    This property features: Very spacious multi‑purpose building with multiple rooms suitable for various uses.; Riverstreet fiberoptic internet.; Lots of paved parking spaces and handicapped accessible with accessible approach and ramp.
    (804) 815-8551
    We can help!
    Listing Contact
    Kim S. Williams
    Real Estate License ID: 0225045014
    Learn More
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    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
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    1399 Centerville Road, Shacklefords, VA 23156
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