Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    00 Irvington Rd Kilmarnock, VA 22482
    Back to Search
    Property profile & analytics

    00 Irvington Rd, Kilmarnock, VA 22482

    View on Map
    • Land
    • 113.99 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 00 Irvington Rd

    Lot size
    113.99 lot acres
    Property type
    Land

    Description

    This exceptional 113.99-acre commercial land parcel presents a unique investment opportunity in Kilmarnock, Virginia. Located at 00 Irvington Road, Lancaster County, zip code 22482 (37.7159347, -76.3817724), this property boasts an already approved Planned Unit Development (PUD) plan, allowing for a diverse range of development options. The PUD plan encompasses single-family homes, townhomes, and condominiums, incorporating common areas and dedicated space for commercial ventures. Detailed site plans are available upon request, showcasing the comprehensive vision for this expansive property. Convenient access is provided by two entrances: one on a school street between Lancashire and Main streets, and another directly on Irvington Road. Both entrances offer easy walking distance to Kilmarnock's vibrant Step Toes district, known for its shopping, dining, and historic Main Street charm. The property is zoned R-1, offering flexibility for various development scenarios. This substantial acreage presents an ideal opportunity for large-scale development or a private retreat, capitalizing on its prime location and approved PUD plan. The asking price for this remarkable property is $1,900,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Kilmarnock
    County
    Lancaster
    State
    Virginia
    Longitude
    -76.3818
    Latitude
    37.7159

    Comparable in this City

    • Value Estimation by Request
      0.44 Acres

      Lot 17 Dr

      Land
      0 Lot 17 Dr, Kilmarnock, VA 22482
      View Details
    • Value Estimation by Request
      0.63 Acres

      752 Irvington Rd

      Land
      752 Irvington Rd, Kilmarnock, VA 22482
      View Details
    • Value Estimation by Request
      1.97 Acres

      Mary Ball Rd

      Farms
      0 Mary Ball Rd, White Stone, VA 22482
      View Details
    • Value Estimation by Request
      30,320 SF

      54 Irvington Rd

      Land
      54 Irvington Rd, Kilmarnock, VA 22482
      View Details
    • Value Estimation by Request
      15.38 Acres

      000 Mary Ball Rd

      Land
      000 Mary Ball Rd, White Stone, VA 22482
      View Details
    • Value Estimation by Request
      3.05 Acres

      01 Minglewood Ln

      Land
      01 Minglewood Ln, Kilmarnock, VA 22482
      View Details

    Similar Nearby for Sale

    • $40,000
      Pending

      Wooded 7-Acre Parcel in Kilmarnock

      7-acre wooded parcel near Kilmarnock with stream and wetlands.
      Mary Ball Rd, Kilmarnock, VA 22482
      View Details
    • $49,000
      1.97 Acres

      Corner Lot in Kilmarnock, VA

      Open land parcel zoned A2 with road frontage.
      17 Mary Ball Rd, Kilmarnock, VA 22482
      View Details
    • Contact for pricing
      Pending

      Land For Sale Kilmarnock

      Land available for sale in Kilmarnock, Virginia.
      780 Mary Ball Rd, Kilmarnock, VA 22482
      View Details
    • $135,000
      10.04 Acres

      Kilmarnock Land for Residential Development

      10.04 acres in Kilmarnock, ideal for residential development.
      Yorkshire St, Kilmarnock, VA 22482
      View Details
    • $115,000
      1.95 Acres

      Kilmarnock Commercial Land Available

      1.95 AC commercial lot in Kilmarnock, Virginia.
      Dmv Dr, Kilmarnock, VA 22482
      View Details
    • $69,900
      3.31 Acres

      Waterfront Land in Pine Ridge

      3.31-acre waterfront parcel in Kilmarnock, Virginia.
      17 Pine Reach Dr, Kilmarnock, VA 22482
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,642 SF

      Freestanding Building with Drive-Thru

      3,642 SF freestanding building with drive-thru on 0.78 acres.
      432 North Main St, Kilmarnock, VA 22482
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space Near Main Street

      Retail spaces available in high-traffic Kilmarnock location.
      10-150 Old Fair Grounds Way, Kilmarnock, VA 22482
      View Details
    • Contact for pricing
      8,450 SF

      Retail Space in Kilmarnock Hub

      Retail space available in Kilmarnock's commercial hub anchored by Food Lion.
      394-424 N Main St, Kilmarnock, VA 22482
      View Details
    • $2,500 /Mo
      702 SF

      Remodeled Office/Retail Space in Kilmarnock

      Newly remodeled 702 sq ft office/retail space for rent.
      79 Main St, Kilmarnock, VA 22482
      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.
    00 Irvington Rd
    Kilmarnock, VA 22482
    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

    Thank You for Inquiry
    00 Irvington Rd, Kilmarnock, VA, 22482
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!