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    18321 Parkway Melfa, VA 23410

    Sponsored
    For Sale
    $550,000

    11,658 SF, 100% Occupied, VA

    Property size:
    11,658 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a fully occupied, 11,658-square-foot flex office and industrial property situated on a 2.81-acre lot in Melfa, Virginia. The property, located at 18321 Parkway, zip code 23410, within the Accomack County Airport Industrial Park, comprises three single-story buildings constructed in 1980 and extensively renovated in 2018. The property boasts a Class C rating and is zoned for light industrial use, offering significant potential for expansion. Currently operating under a triple-net lease (NNN) with a single tenant, this stabilized investment provides a secure and consistent income stream. The property's prime location offers convenient access to Route 13, and benefits from existing infrastructure including water, sewer, and broadband access. The Accomack County Airport Industrial Park provides a diverse business environment, including retail, manufacturing, and service companies. Proximity to Eastern Shore Community College and the Workforce Center further enhances the property's appeal. Potential investors should note the availability of incentives from Accomack County and the State of Virginia, along with additional free resources provided by the Virginia Employment Commission. The asking price for this fee-simple ownership is $550,000. This property represents a compelling investment opportunity in a thriving industrial park.

    Property Features for 18321 Parkway

    General Information

    Property type
    Flex space
    Square Feet
    11,658 SF
    Class
    C
    Lot Size
    122,404 SF

    Building Details

    Year Built/Renovated
    1980/2018
    Buildings
    3
    Stories
    1

    HighLights

    • Fully occupied, 11,658 SF flex office/industrial property on a 2.81‑acre lot in Melfa, VA.
    • Located at 18321 Parkway, zip code 23410, in the Accomack County Airport Industrial Park.
    • Three single‑story buildings, built in 1980, extensively renovated in 2018; Class C rating, light industrial zoning.
    • Triple‑net (NNN) lease with a single tenant, providing stable income.
    • Asking price: $550,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Interad Limited Electrical Supply Store Luminary Air Group Corporate Office

    Suggested Use

    Building Supply Wholesale Shop Auto Repair Shop Hotel & Motel Department Store Food Market Storage Facility Grocery Store Electrical Service Furniture Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Melfa
    County
    Accomack
    State
    Virginia
    Longitude
    -75.7596321
    Latitude
    37.6429122

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    FAQs

    What type of property is this?
    Flex space - 11,658 SF, 100% Occupied, VA
    Where is this flex space located?
    The property is located at 18321 Parkway Melfa, VA.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: Fully occupied, 11,658 SF flex office/industrial property on a 2.81-acre lot in Melfa, VA.; Located at 18321 Parkway, zip code 23410, in the Accomack County Airport Industrial Park.; Three single-story buildings, built in 1980, extensively renovated in 2018; Class C rating, light industrial zoning.
    Request Owner's contact information
    18321 Parkway Melfa, VA 23410
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    Melfa, VA 23410
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    Realmo Value Estimation

    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.

    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.

    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
    18321 Parkway Melfa, VA 23410
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