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    Waterfront Homesite in Coastal Community Title is generated by Realmo AI

    19 BRIDGETON DRIVE lot 19, Cape Charles, VA 23510

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    Claim this Listing
    For Sale
    $129,900

    LAND - CAPE CHARLES, VA

    Lot size:
    0.27 Acres
    Added:
    Apr 21, 2026
    Days on Market:
    44
    Last Refresh:
    Jun 3 at 7:06 pm

    Property Features for 19 BRIDGETON DRIVE lot 19

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    83A1-16-19
    Lot size
    0.27 Acres

    Utilities

    Utilities
    Water Available
    Water front features
    Waterfront
    Water front
    1

    We can help!

    Listing Contact
    Chelsea Axelrod

    Listing agent Chelsea Axelrod

    Listing office A Better Way Realty 701 Greenbrier Pkwy, Chesapeake, VA

    Listing date Apr 21, 2026

    MLS# 71273 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

    • Rare waterfront homesite in desirable Bay Creek community with easy access to downtown Cape Charles.
    • Priced $10k below tax assessed value, presenting an exceptional investment opportunity.
    • No required timeframe to build, offering flexibility in planning your dream home.
    • Includes access to Bay Creek's resort‑style amenities: private beach, community pools, tennis & pickleball courts, walking & biking trails.
    • Custom Allison Ramsey architect house plan designed for the lot and an already approved builder can convey, streamlining the building process.
    • Not grandfathered into golf course dues, providing added flexibility and value.

    Overview

    Homesite 19 in Marina Village East at Bay Creek offers a rare opportunity to own a waterfront homesite in a golf cart friendly coastal community. The lot is priced below tax assessed value. Located minutes from downtown Cape Charles, this homesite offers access to marinas, boutique shopping, dining, bakeries, and galleries. The location is suited for enjoying a relaxed coastal lifestyle while staying connected to town conveniences. The property is not grandfathered into golf course dues. A survey is attached to the listing. A custom Allison Ramsey architect house plan designed to fit the lot can convey. A builder is already approved by the Bay Creek Architectural Committee. There is no required timeframe to build, allowing flexibility to plan construction. Bay Creek's resort-style amenities include a private 2-mile beach, community pools, tennis and pickleball courts, miles of walking and biking trails, and a nature preserve. The HOA includes pool access, tennis courts, and ground maintenance. Optional membership provides access to the Arnold Palmer & Jack Nicklaus Signature 27-hole golf experience, private beach club, and fitness center. The lot size is 0.27 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Cape Charles
    County
    Northampton
    State
    Virginia
    Longitude
    -76.007337
    Latitude
    37.274197

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    FAQs

    What type of property is this?
    Residential land & home lot - Waterfront homesite near downtown Cape Charles with resort-style amenities.
    Where is this residential land & home lot located?
    The property is located at 19 BRIDGETON DRIVE lot 19 Cape Charles, VA.
    What is the asking price?
    The asking price for this property is $129,900.
    What are key features of this property?
    This property features: Rare waterfront homesite in desirable Bay Creek community with easy access to downtown Cape Charles.; Priced $10k below tax assessed value, presenting an exceptional investment opportunity.; No required timeframe to build, offering flexibility in planning your dream home.
    (410) 200-1651
    We can help!
    Listing Contact
    Chelsea Axelrod
    Request Owner's contact information
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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.

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