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    Historic Chincoteague Commercial Corner Property Title is generated by Realmo AI

    4065 MAIN ST, Chincoteague, VA 23336

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    For Sale
    $875,000

    COMMERCIAL - CHINCOTEAGUE, VA

    Property size:
    3,114 SF
    Lot size:
    0.11 Acres
    Price / SF:
    $280/SF
    Added:
    Jan 19, 2026
    Days on Market:
    123
    Last Refresh:
    May 22 at 4:06 am

    Property Features for 4065 MAIN ST

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Standard status
    Active
    APN
    30A5-A-478
    Size
    3,114 SF
    Lot size
    0.11 Acres

    Building Details

    Year built
    1930

    We can help!

    Listing Contact
    THE MCGOLDRICK TEAM, LLC

    Listing agent THE MCGOLDRICK TEAM, LLC

    Listing office Long & Foster - Wallops Island 8208 Salyer Dr, Wallops Island, VA

    Listing date Jan 19, 2026

    MLS# 66722

    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

    • Prime corner lot location in the heart of Chincoteague's downtown district with maximum visibility and high foot/vehicle traffic.
    • Two separate addresses offering exceptional flexibility for multiple business uses.
    • Historic commercial property (built in 1930) with over 3,100 square feet of space.
    • Direct frontage on a scenic waterfront park and public fishing pier, attracting both locals and tourists.
    • Upcoming installation of central sewer service, expanding redevelopment possibilities.
    • Located in a highly traveled resort destination on the Eastern Shore.

    Overview

    This historic commercial property, originally built in 1930, offers over 3,100 square feet of space. Situated on a prominent corner lot in the heart of the downtown district, this two-story building has served as an anchor for the area's vibrant business community. The property, located in one of the Eastern Shore's most highly traveled resort destinations, has two separate addresses, providing flexibility for multiple business uses, including retail, office space, mixed-use redevelopment, or a combination of income-producing ventures. Its prime location offers maximum visibility and consistent foot and vehicle traffic. The property directly fronts a scenic waterfront park and public fishing pier. The upcoming installation of central sewer service presents a significant advantage, opening the door to expanded redevelopment possibilities and increased property utility. This property offers the foundation and location to bring your vision to life in one of Virginia's most beloved coastal communities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sundial Books (Bike/Boat/Book/etc) Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chincoteague
    County
    Accomack
    State
    Virginia
    Longitude
    -75.3774571
    Latitude
    37.9340826

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    FAQs

    What type of property is this?
    Mixed-use property - Iconic 3,100+ sq ft commercial property in downtown Chincoteague.
    Where is this mixed-use property located?
    The property is located at 4065 MAIN ST Chincoteague, VA.
    What is the asking price?
    The asking price for this property is $875,000.
    What are key features of this property?
    This property features: Prime corner lot location in the heart of Chincoteague's downtown district with maximum visibility and high foot/vehicle traffic.; Two separate addresses offering exceptional flexibility for multiple business uses.; Historic commercial property (built in 1930) with over 3,100 square feet of space.
    (757) 710-3771
    We can help!
    Listing Contact
    THE MCGOLDRICK TEAM, LLC
    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.

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