Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Development Opportunity in Suffolk, Virginia Title is generated by Realmo AI

    200 Kilby Shores Dr, Suffolk, VA 23434

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Two-story buildings with additional acreage for future development.

    Type:Land, Multifamily
    Added:
    Feb 26, 2026
    Days on Market:
    90
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 200 Kilby Shores Dr

    General Information

    Standard status
    Active
    Property subtype
    Land, Multifamily

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    Peyton Cox

    Listing agent Peyton Cox License #VA 0225224365

    Listing office CBRE - Richmond

    Listing date Feb 26, 2026

    Source Crexi

    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 CBRE - Richmond

    HighLights

    • Significant acreage included for future development, offering potential to maximize site density.
    • Durable mid‑century construction with a solid structural foundation, ideal for value‑add renovations.
    • Historically stable occupancy levels due to location within the Suffolk City Public Schools district.
    • Functional floor plans suitable for a variety of tenants.
    • Two‑story buildings offer efficient use of space.
    • Built in 1950, showcasing classic mid‑century design.

    Overview

    Constructed in 1950, this property features two-story buildings with mid-century construction. The existing units offer functional floor plans and a solid structural foundation suitable for value-add renovations. The property includes additional acreage, presenting an opportunity for future development and allowing an investor to maximize the site’s density. Located within the Suffolk City Public Schools district, the property is appealing to family-oriented tenants, which supports stable occupancy levels.
    Location Intelligence

    Current Use by Public Records

    Homebase Homestay

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Suffolk
    County
    Suffolk
    State
    Virginia
    Longitude
    -76.6274256
    Latitude
    36.7249521

    Nearby Similar for Sale

    • $350,000
      4,834 SF

      Suffolk Commercial Property For Sale

      Commercial building in historic downtown Suffolk, ready for build-out.
      257 Carolina Avenue, Suffolk, VA 23434
      View Details
    • $729,000
      9,000 SF

      Iconic Ballroom in Historic Suffolk

      Three-story building with ballroom, bridal suite, and outdoor gazebo.
      447 W Washington Street, Suffolk, VA 23434
      View Details
    • $600,000
      5,803 SF

      Historic Church in Suffolk, VA

      Two-story brick church with sanctuary, classrooms, offices, and parking.
      1613 Washington Street, Suffolk, VA 23434
      View Details
    • $650,000
      4,865 SF

      Suffolk Commercial Clinic with Apartment

      Landmark clinic with flexible layout and equine amenities.
      2451 Lake Cohoon Road, Suffolk, VA 23434
      View Details
    • $299,900
      1,500 SF

      Versatile Commercial Property in Suffolk

      High-visibility commercial property suitable for retail, office, or automotive businesses.
      400 W Washington Street, Suffolk, VA 23434
      View Details
    • $425,000
      6,336 SF

      Church and Shelter in Suffolk

      Meticulously maintained church with homeless shelter annex for sale.
      132 Bank Street, Suffolk, VA 23434
      View Details
    • $399,000
      3,283 SF

      Suffolk Commercial Investment Opportunity

      Commercial property near industrial complex in downtown Suffolk, Virginia.
      685 Carolina Road, Suffolk, VA 23434
      View Details
    • $189,900
      7,511 SF

      Suffolk Commercial Land For Sale

      B-1 zoned commercial land with potential for various businesses.
      208 E Pinner Street, Suffolk, VA 23434
      View Details
    • $299,000
      1,500 SF

      Downtown Suffolk Office Building

      Office building in vibrant downtown Suffolk, near amenities.
      314 W Washington Street, Suffolk, VA 23434
      View Details
    • $14,000

      Land For Sale, Suffolk, VA

      0.39 acre commercial land available in Suffolk, Virginia.
      HILL STREET, SUFFOLK, VA 23434
      View Details
    • $3,160,000

      37.18 Acres in Suffolk, VA

      37.18 acres of land in a prime Suffolk location.
      909 Murphys Mill Road, Suffolk, VA 23434
      View Details
    • $399,999
      3,500 SF

      Suffolk Duplex with Oversized Garage

      Well-maintained Suffolk duplex with income potential and oversized garage.
      421 Hollywood Avenue, Suffolk, VA 23434
      View Details

    FAQs

    What type of property is this?
    Land - Two-story buildings with additional acreage for future development.
    Where is this land located?
    The property is located at 200 Kilby Shores Dr Suffolk, VA.
    What are key features of this property?
    This property features: Significant acreage included for future development, offering potential to maximize site density.; Durable mid‑century construction with a solid structural foundation, ideal for value‑add renovations.; Historically stable occupancy levels due to location within the Suffolk City Public Schools district.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Peyton Cox
    Real Estate License ID: VA 0225224365
    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
    200 Kilby Shores Dr, Suffolk, VA 23434
    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!