Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    lot 67 OCEAN BLVD Chincoteague, VA 23336

    View on Map
    Claim this Listing
    Pending
    $249,000

    Commercial - CHINCOTEAGUE, VA

    Added:
    Sep 29, 2025
    Days on Market:
    221
    Last Refresh:
    May 7 at 8:06 pm

    Property Features for lot 67 OCEAN BLVD

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Interior features
    Other-see Remarks
    Standard status
    Pending

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Angie Conklin Abell

    Listing agent Angie Conklin Abell

    Listing office BEACH BAY REALTY, LLC 6202 Maddox Blvd, Chincoteague, VA

    Listing date Sep 29, 2025

    MLS# 65240 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

    • Generates $26,000/year in food truck rental income.
    • Highly visible corner lot in a prime location.
    • C‑3 Zoning ideal for a wide range of business uses.
    • Electric power on site with two (50‑amp) circuits and water meter installed.
    • Shared septic system with capacity for a two‑bedroom set up.
    • Hydrant at the property.

    Overview

    Corner Lot Investment Opportunity

    This corner lot in Chincoteague, VA, presents a unique investment opportunity. The property is zoned C-3, making it suitable for a wide range of business uses. Electric power is available on-site, with two 50-amp circuits. A water meter is installed, and there is a shell parking lot with convenient access. A hydrant is located at the property. The lot has a shared septic system with capacity for a two-bedroom setup. Currently, the lot generates $26,000 per year in food truck rental income, with the potential to expand. This versatile lot offers income potential for businesses or a residential home build.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chincoteague
    County
    Accomack
    State
    Virginia
    Longitude
    -75.370189
    Latitude
    37.93601

    Nearby Similar for Sale

    • $990,000
      6,970 SF

      Chincoteague Island Inn and Restaurant

      Award-winning inn and restaurant in the heart of Chincoteague.
      6228 CHURCH ST, CHINCOTEAGUE, VA 23336
      View Details
    • $598,000
      440 SF

      Turnkey Adventure Park Business Opportunity

      Established adventure business with ropes course and commercial structure.
      4368 PENSION, CHINCOTEAGUE, VA 23336
      View Details
    • $410,000

      Waterfront Lot with Bay Views

      0.73-acre waterfront lot with views of Assateague Island.
      1 WOODLAND DR, CHINCOTEAGUE, VA 23336
      View Details
    • $499,000
      6,120 SF

      Historic Chincoteague Commercial Building

      Versatile 6,120 SF commercial building in recognizable Chincoteague location.
      4108* MAIN ST, CHINCOTEAGUE, VA 23336
      View Details
    • $980,000
      3,114 SF

      Prime Corner Lot Storefront Opportunity

      Well-established commercial storefront in a prime island location.
      4065 MAIN St, Chincoteague, VA 23336
      View Details
    • $950,000

      Waterfront Land on Chincoteague Channel

      Prime waterfront land near the ocean with multi-use C4 zoning.
      0 MAIN ST, CHINCOTEAGUE, VA 23336
      View Details
    • $499,000

      Ready-to-Build Island Dream Home

      Cleared 1.11 acre lot with utilities in place.
      3110 MAIN ST, CHINCOTEAGUE, VA 23336
      View Details
    • $249,900

      Building Lot with Storage Building

      Ready-to-build lot with septic, storage, and utilities in place.
      Lot 183 CLARK ST, CHINCOTEAGUE, VA 23336
      View Details
    • $950,000

      Waterfront Land on Chincoteague Channel

      Prime waterfront land with multi-use C4 zoning and sunset views.
      0 MAIN ST, CHINCOTEAGUE, VA 23336
      View Details
    • $109,900

      Chincoteague Island Lot with Utilities

      Island lot with utilities near Curtis Merritt Harbor.
      8280 BAY ST, CHINCOTEAGUE, VA 23336
      View Details
    • $458,000

      Waterfront Land on Chincoteague Channel

      Prime waterfront land zoned C4 with potential for residential or commercial.
      0 MAIN ST, CHINCOTEAGUE, VA 23336
      View Details
    • $458,000

      Waterfront Land on Chincoteague Channel

      Prime waterfront land zoned C4 with potential for residential or commercial.
      0 MAIN ST, CHINCOTEAGUE, VA 23336
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime corner lot with income potential in Chincoteague, VA.
    Where is this commercial land located?
    The property is located at lot 67 OCEAN BLVD Chincoteague, VA.
    What is the asking price?
    The asking price for this property is $249,000.
    What are key features of this property?
    This property features: Generates $26,000/year in food truck rental income.; **Highly visible corner lot in a prime location.**; C‑3 Zoning ideal for a wide range of business uses.
    (757) 710-1598
    We can help!
    Listing Contact
    Angie Conklin Abell
    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
    lot 67 OCEAN BLVD, CHINCOTEAGUE, VA 23336
    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!