Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    1509 Milnwood Rd Farmville, VA 23901

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1509 Milnwood Rd Farmville, VA 23901

    View on Map
    • Specialty properties
    • 924 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 1509 Milnwood Rd

    Property size
    924 SF
    Property type
    Specialty properties
    Property subtype
    Land

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Farmville
    County
    Prince Edward
    State
    Virginia
    Longitude
    -78.3948
    Latitude
    37.2822

    Comparable in this City

    • Value Estimation by Request
      5,000 SF

      27 Bayberry Ln

      Land • 5,000 SF
      27 Bayberry Ln, Farmville, VA 23901
      View Details
    • Value Estimation by Request
      1.72 Acres

      592 Holman Ml Rd

      COMMERCIAL MISC • 1.72 Acres
      592 Holman Ml Rd, Farmville, VA 23901
      View Details
    • Value Estimation by Request

      12 Cooks Rd

      COMMERCIAL MISC
      12 Cooks Rd, Farmville, VA 23901
      View Details
    • Value Estimation by Request
      6.57 Acres

      Farmville, VA 23901

      COMMERCIAL MISC • 6.57 Acres
      Farmville, VA 23901
      View Details
    • Value Estimation by Request
      1.30 Acres

      541 Riv Rd

      COMMERCIAL MISC • 1.30 Acres
      541 Riv Rd, Farmville, VA 23901-3942
      View Details
    • Value Estimation by Request

      Farmville, VA 23901

      COMMERCIAL MISC
      Farmville, VA 23901
      View Details

    Similar Nearby for Sale

    • $349,900
      5,000 SF

      Farmville Retail or Office Space

      Versatile 5,000 sq ft property suitable for retail or office.
      27 Bayberry Ln, Farmville, VA 23901
      View Details
    • $250,000
      3,034 SF

      Farmville Commercial Space Opportunity

      High-visibility commercial space with parking in Farmville, Virginia.
      221 East 2Nd St, Farmville, VA 23901
      View Details
    • $250,000
      Pending

      74 Acres Near Downtown Farmville

      74-acre parcel with road frontage near Hampden-Sydney College.
      Farmville Rd, Farmville, VA 23901
      View Details
    • Contact for pricing

      Undeveloped Land on S. Main

      Approximately 1.91 acres of undeveloped land available for sale.
      1100-1108 S Main St, Farmville, VA 23901
      View Details
    • Contact for pricing

      Farmville Land For Sale

      Approximately 54.98 acres of land available in Farmville, Virginia.
      Milnwood Rd & Scott Dr, Farmville, VA 23901
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Property for Rent

      Commercial property available for rent in Farmville, Virginia.
      2799 W 3Rd St, Farmville, VA 23901
      View Details
    • Contact for pricing

      Commercial Land on Route 15

      Commercial land for rent with frontage on Route 15.
      Commerce Rd, Farmville, VA 23901
      View Details
    • Contact for pricing
      2,153 SF

      Retail Space Near Longwood University

      Retail space with high student traffic near Longwood University.
      1137 S Main St, Farmville, VA 23901
      View Details
    • $1,500 /Mo
      1,150 SF

      Spacious Office Suite in Farmville

      Conveniently located office suite with high visibility and ample amenities.
      4644 Farmville Rd, Farmville, VA 23901
      View Details
    • $2,400 /Mo
      2,368 SF

      Remodeled Commercial Space in Farmville

      2,300+ SQFT retail space in downtown Farmville, Virginia.
      118 W 3Rd St, Farmville, VA 23901
      View Details
    • Contact for pricing

      Office Spaces For Lease

      Office spaces for lease with abundant parking and signage.
      900 W 3Rd St, Farmville, VA 23901
      View Details
    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.
    1509 Milnwood Rd
    Farmville, VA 23901
    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!