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    The Largest CRE Database in the US with Over 1 Million Listings

    4376 Lankford Hwy Exmore, VA 23350

    Sponsored
    For Sale
    $389,000

    Multi-tenant office building, great investment.

    Property size:
    3,934 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    410
    This well-maintained, multi-tenant executive office building in Exmore, Virginia, presents a compelling investment opportunity or the perfect space for your business needs. Located on Lankford Highway (Rt. 13), the property boasts excellent visibility and convenient access. The 3,934 square foot building features three units: Unit 1 (1,594 sq ft), Unit 2 (1,460 sq ft), and Unit 3 (880 sq ft). Currently, two of the three units are leased, offering immediate income potential. The building includes ample parking (11 spaces) and significant attic storage. The property is equipped with heat pumps for heating and cooling, and features carpet, vinyl/asphalt/tile flooring. The roof is composition, and the building utilizes a well for water and a septic system for sewer. Floor plans and septic information are available upon request. The building was constructed in 2000 and is zoned for commercial use. This is a turnkey opportunity with strong potential for growth and return on investment. Don't miss this chance to acquire a prime commercial property in a desirable location.

    Property Features for 4376 Lankford Hwy

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    3,934 SF

    Building Details

    Year Built
    2000
    Units
    3

    We can help!

    Listing Contact
    Andy Mason
    Andy Mason

    Learn more

    Property Insight Report

    HighLights

    • Heat pump heating and cooling systems.
    • Central A/C and heat pumps.
    • Well water.
    • Septic system.
    • Carpet, vinyl, asphalt, and tile flooring.
    • Composition roof.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Law Firm Spa & Massage Building Supply Wholesale Shop Hair Salon Auto Repair Shop Hotel & Motel Nail Salon Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Exmore
    County
    Northampton
    State
    Virginia
    Longitude
    -75.833146
    Latitude
    37.515681

    Nearby Comparable

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    Nearby Similar for Sale

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      New construction flex space in accessible mid-shore location.
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    • $325,000
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      Office building on Lankford Hwy with high visibility and parking.
      4364 Lankford Hwy, Exmore, VA 23350
      View Details
    • $395,000
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      New Commercial Building in Exmore

      New construction suitable for storage, trade, or light industrial uses.
      3516 Main St, Exmore, VA 23350
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      Exmore Commercial Property For Sale

      Half-acre commercial parcel with existing structure in Exmore, Virginia.
      4204 Lankford Hwy, Exmore, VA 23350
      View Details
    • New
      $550,000
      10,000 SF

      Versatile Commercial Building in Exmore, VA

      9,912 sq ft commercial space suitable for retail or office.
      3515 Main St, Exmore, VA 23350
      View Details
    • $1,263,000
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      Retail Property with Established Tenants

      Retail property with Verizon and Virginia ABC as tenants.
      3527 Lankford Hwy, Exmore, VA 23350
      View Details
    • $3,415,000
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      Retail Center For Sale

      Three-tenant retail center with new Advance Auto under construction.
      3543 Lankford Hwy, Exmore, VA 23350
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      Exmore Specialty Property for Sale

      Specialty property available in Exmore, Virginia.
      2508 Main St, Exmore, VA 23350
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - Multi-tenant office building, great investment.
    Where is this office property / space located?
    The property is located at 4376 Lankford Hwy Exmore, VA.
    What is the asking price?
    The asking price for this property is $389,000.
    What are key features of this property?
    This property features: Heat pump heating and cooling systems.; Central A/C and heat pumps.; Well water.
    Request Owner's contact information
    4376 Lankford Hwy Exmore, VA 23350
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    Exmore, VA 23350
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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.

    More about this property
    4376 Lankford Hwy Exmore, VA 23350
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    We can help!
    Listing Contact
    Andy Mason
    Andy Mason
    Real Estate License ID: 0225059612
    Learn more
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