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

    L38/39 Cralle Ct Kilmarnock, VA 22482

    View on Map
    Claim this Listing
    New
    Pending
    $72,000

    Commercial - Kilmarnock, VA

    Property size:
    8,654 SF
    Lot size:
    0.19 Acres
    Added:
    Apr 28, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 29 at 1:06 pm

    Property Features for L38/39 Cralle Ct

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C1
    Interior features
    None
    Standard status
    Pending
    APN
    23A 22 E 38,39
    Size
    8,654 SF
    Lot size
    0.19 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Susan Titus
    Susan Titus

    Listing agent Susan Titus

    Listing office Cobblestone Realty 105 Smith Point Circle, Reedville, VA

    Listing date Apr 28, 2026

    MLS# 120093 Listing URL

    Copyright © 2026 Northern Neck 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.

    Overview

    Kilmarnock Commercial Land For Sale

    Two adjacent parcels, totaling 8,654 square feet (0.19 acres), are available. The dimensions are 50 x 174 feet. The parcels are zoned C1 General Commercial and located within the Town's Steptoe District. The parcels have ends facing Cralle Court and one side adjacent to Cralle Alley. There are no setback requirements. Currently used for parking, the land is ideal for parking for businesses fronting Main Street, or for a mini warehouse (with conditional use permit) for storage for other local enterprises.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Kilmarnock
    County
    Lancaster
    State
    Virginia
    Longitude
    -76.381612
    Latitude
    37.711376

    Nearby Similar for Sale

    • $845,000
      9,910 SF

      Downtown Kilmarnock Commercial Investment

      Thriving commercial building with three businesses in downtown Kilmarnock.
      41,43,45 South Main Street, Kilmarnock, VA 22482
      View Details
    • $355,000
      1,636 SF

      Kilmarnock Commercial Property For Sale

      Charming commercial building in Kilmarnock's vibrant Steptoe's District.
      90 N Main Street, Kilmarnock, VA 22482
      View Details
    • $595,000
      4,505 SF

      Kilmarnock Commercial Property with Flexibility

      Highly visible property with commercial legacy and residential potential.
      200 Irvington Road, Kilmarnock, VA 22482
      View Details
    • $725,000
      30,320 SF

      Kilmarnock Commercial Land For Sale

      Prime commercial land in Kilmarnock's walkable StepToe District.
      54 Irvington Road, Kilmarnock, VA 22482
      View Details
    • $72,000

      Kilmarnock Commercial Land For Sale

      Two adjacent parcels in Kilmarnock's Steptoe District.
      L38/39 Cralle Ct, Kilmarnock, VA 22482
      View Details
    • $89,000

      Commercial Land in Kilmarnock, VA

      Commercial plot in a bustling area between Kilmarnock and Irvington.
      752 Irvington Road, Kilmarnock, VA 22482
      View Details
    • $450,000

      Commercial Land in Kilmarnock, VA

      15+ acre commercial parcel ready for development in Kilmarnock.
      23 67 Mary Ball Road, Kilmarnock, VA 22482
      View Details
    • $155,000

      Kilmarnock Commercial Land Opportunity

      Expansive commercial land parcel in the heart of Kilmarnock.
      TM 23 85 Christopher Dr, Kilmarnock, VA 22482
      View Details
    • $139,500

      Waterfront Land Ready-to-Build Potential

      Scenic waterfront landscape ideal for refined coastal estate.
      Lots 1-2 Natty Point Lane, Kilmarnock, VA 22482
      View Details
    • $76,000

      Kilmarnock Building Lot Near Amenities

      Four-acre building lot near Kilmarnock with no HOA.
      Lot 22 Boys Camp Road, Kilmarnock, VA 22482
      View Details
    • $89,000

      Kilmarnock Commercial Land Opportunity

      High-visibility commercial land suitable for various professional services.
      Lot 110B Harris Road, Kilmarnock, VA 22482
      View Details
    • $795,000

      Waterfront Land Opportunity in Kilmarnock

      15.42 acres of waterfront land with open fields.
      91A Balls Neck Road, Kilmarnock, VA 22482
      View Details

    FAQs

    What type of property is this?
    Commercial land - Two adjacent parcels in Kilmarnock, VA, ideal for parking.
    Where is this commercial land located?
    The property is located at L38/39 Cralle Ct Kilmarnock, VA.
    What is the asking price?
    The asking price for this property is $72,000.
    What are key features of this property?
    This property features: Ideal for parking for businesses fronting Main St.; Located within the Town's Steptoe District.; Zoned C1 General Commercial.
    (703) 304-5323
    We can help!
    Listing Contact
    Susan Titus
    Susan Titus
    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!