Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Virginia Investment Opportunity Title is generated by Realmo AI

    1600 Milnwood Road, Farmville, VA 23901

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $479,000

    Two-lot property in prime location, suitable for business conversion.

    Type:Commercial/Industrial
    Lot size:
    0.84 Acres
    Added:
    Mar 12, 2026
    Days on Market:
    72
    Last Refresh:
    Apr 6 at 3:58 am

    Property Features for 1600 Milnwood Road

    General Information

    Standard status
    Active
    Lot size
    0.84 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    Janet Miller

    Listing agent Janet Miller License #0225178388

    Listing office Century 21 Realty @ Home

    Listing date Mar 12, 2026

    Source Exitrealty

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

    All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Realty @ Home

    HighLights

    • Prime location in the heart of Virginia.
    • Walking distance to dining, shopping, and banking.
    • Investment opportunity with potential for business conversion.
    • Two lots totaling .83 acres.
    • Includes a single‑family home.
    • Property built in 1950.

    Overview

    This property presents an investment opportunity in Virginia, situated in a location within walking distance of dining, shopping, and banking. The combined property spans 0.83 acres across two lots. A single-family home is located on the property, offering the potential for conversion into a business.
    Property Profile Location Intelligence

    Current Use by Public Records

    Opportunities Knock Financial Advisor

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmville
    County
    Prince Edward
    State
    Virginia
    Longitude
    -78.3948
    Latitude
    37.2822

    Nearby Similar for Sale

    • $250,000
      3,034 SF

      Farmville Commercial Opportunity For Sale

      Commercial property in Farmville with high visibility and ample parking.
      221 E 2nd Street, Farmville, VA 23901
      View Details
    • $330,000

      Farmville Commercial/Industrial Opportunity

      Functional commercial property in Farmville, featuring offices, classrooms, and parking.
      4026 Third St, Farmville, VA 23901
      View Details
    • $269,000
      5,284 SF

      Farmville Trailer Park Opportunity

      Trailer park near universities with income potential.
      699 Hardtimes Road, Farmville, VA 23901
      View Details
    • $325,000
      4,060 SF

      Farmville Commercial Property for Sale

      Commercial property in Farmville, VA, suitable for retail or storefront.
      816 E Third, Farmville, VA 23901
      View Details
    • $275,000

      Commercial Land in Farmville, VA

      2.355 acres of B-3 zoned land in Farmville, VA.
      Layne St, Farmville, VA 23901
      View Details
    • $975,000

      Main Street Commercial Building Investment

      Fully leased commercial building on Main Street in Farmville, VA.
      408 S Main St, Farmville, VA 23901
      View Details
    • $315,599

      Farmville Land: Country Living Awaits

      56+ acre parcel offers country living with commuting convenience.
      Poorhouse Road, Farmville, VA 23966
      View Details
    • $60,000

      Residential Land in Farmville, VA

      Residential land for sale in an established Farmville neighborhood.
      Briarwood Dr., Farmville, VA 23901
      View Details
    • $45,000

      Farmville Land for Custom Home

      Three-acre lot in Prince Edward County for building a home.
      3335A REDD SHOP RD, Farmville, VA 23901
      View Details
    • $45,000

      Residential Land in Farmville, VA

      3-acre residential land perfect for building your dream home.
      3335A REDD SHOP RD, FARMVILLE, VA 23901
      View Details
    • $399,000

      Versatile Office Space in Farmville

      Well-designed office with classrooms, kitchen, and ample parking.
      4026 Third St, VA 23901
      View Details
    • $45,000

      Farmville Land For Sale

      3-acre lot near Farmville, build your dream home!
      3335A REDD SHOP RD, FARMVILLE, VA 23901
      View Details

    FAQs

    What type of property is this?
    Commercial land - Two-lot property in prime location, suitable for business conversion.
    Where is this commercial land located?
    The property is located at 1600 Milnwood Road Farmville, VA.
    What is the asking price?
    The asking price for this property is $479,000.
    What are key features of this property?
    This property features: Prime location in the heart of Virginia.; Walking distance to dining, shopping, and banking.; Investment opportunity with potential for business conversion.
    (434) 395-1225
    We can help!
    Listing Contact
    Janet Miller
    Real Estate License ID: 0225178388
    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
    1600 Milnwood Road,, VA 23901
    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!