Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Lankford Highway and Willow Oaks Road Eastville, VA 23347

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Located on Route 13 in Eastville, Virginia.

    Type:Land
    Added:
    Jul 1, 2021
    Days on Market:
    1762
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for Lankford Highway and Willow Oaks Road

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Levi Thomson
    Levi Thomson

    Listing agent Levi Thomson License #VA

    Listing office Divaris Real Estate Inc

    Listing date Jul 1, 2021

    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 Divaris Real Estate Inc

    Overview

    Commercial Land on Lankford Highway

    The property is located on the west side of Route 13 Lankford Highway on the Eastern Shore of Virginia, in the Town of Eastville. It is situated immediately to the south of the new Dollar General and Shore Stop, and south of Willow Oaks Road.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Eastville
    County
    Northampton
    State
    Virginia
    Longitude
    -75.9475
    Latitude
    37.3527

    Nearby Similar for Sale

    • $57,500

      Residential Land in Bay Harbour

      1.59-acre wooded lot in Bay Harbour Club neighborhood.
      LOT 3A HARBOUR LN, EASTVILLE, VA 23310
      View Details
    • $2,500
      2,474 SF

      Renovated Office Space in Eastville

      Renovated office space in the heart of Eastville, Virginia.
      16392 COURTHOUSE RD, EASTVILLE, VA 23347
      View Details
    • $315,000

      89 Acres of Woodland in Eastville

      89 acres of woodland for recreation or conservation near Eastville.
      000 SAVAGE NECK RD, EASTVILLE, VA 23347
      View Details
    • $249,900

      Prime Land in Eastville, VA

      10.86-acre parcel ideal for commercial or real estate development.
      LOT A CAPTAIN HOWE LN, EASTVILLE, VA 23347
      View Details
    • $3,950,000

      Waterfront Farm & Forest Land

      713-acre waterfront farm & forest with extensive shoreline.
      20 OYSTER RUN LANE, EASTVILLE, VA 23451
      View Details
    • $299,000

      Waterfront Land with Chesapeake Bay Views

      Large waterfront lot with pond and Chesapeake Bay views.
      lot 6 BARLOW CREEK LN., EASTVILLE, VA 23347
      View Details
    • $129,000

      Land with Beach Access

      Land for sale with beach access and community boat ramp.
      000 CANDY LANE, EASTVILLE, VA 23347
      View Details
    • $129,000

      Land with Beach Access

      Residential land with beach access and community boat ramp.
      000 CANDY LANE, EASTVILLE, VA 23347
      View Details
    • $75,000

      Two Acre Wooded Residential Lot

      Two-acre wooded lot in maintained subdivision, ideal for dream home.
      5 HARBOUR LN, EASTVILLE, VA 23347
      View Details
    • $189,000

      Waterfront Land in Eastville, VA

      Tranquil 5+ acre waterfront property with creek and pond frontage.
      Lot 3&X BARLOW CREEK LN., EASTVILLE, VA 23347
      View Details
    • $232,000

      Waterview Land in Bayside Community

      Premier lot with water views, private beach, and boat ramp.
      LOT 8 CANDY LANE, EASTVILLE, VA 23347
      View Details
    • $240,000

      Waterfront Land in Eastville, VA

      Waterview lot with well, septic, and community amenities.
      LOT 9 CANDY LANE, EASTVILLE, VA 23347
      View Details

    FAQs

    What type of property is this?
    Commercial land - Located on Route 13 in Eastville, Virginia.
    Where is this commercial land located?
    The property is located at Lankford Highway and Willow Oaks Road Eastville, VA.
    What is the asking price?
    The asking price for this property is $90,000.
    What are key features of this property?
    This property features: Located on Route 13 Lankford Highway.; Situated in The Town of Eastville, Eastern Shore of Virginia.; Immediately south of the new Dollar General.
    (757) 675-9132 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Levi Thomson
    Levi Thomson
    Real Estate License ID: VA
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!