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Property profile

18321 Parkway Melfa, VA 23410

OFF-MARKET
Office Spaces
11,658 SF 2.81 ac lot Built 1980
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Property summary

AI-generated overview

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 profile

Verified
Property type Office Spaces
Year built 1980
Total area 11,658 SF
Lot 2.81 ac (122,404 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Building Supply Electrical Service
  • Corporate Office

Location

18321 Parkway Melfa, VA 23410
Melfa metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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