0 Irvington Rd Irvington, VA 22480
This exceptional 744-acre property presents a remarkable investment opportunity in Lancaster County, Virginia. Strategically located near Irvington, with prominent road frontage along Irvington Road, connecting the towns of Kilmarnock, Irvington, and White Stone. The land, zoned R-1 and R-3, boasts a meticulously planned layout with the potential for 575 residential building sites. Expert land planners and designers have carefully considered the property's topography, including slopes and wetlands, to maximize its potential while minimizing environmental impact. The area is surrounded by existing residential developments and some commercial uses along the road. Proximity to the Chesapeake Bay, a renowned resort with a golf course and marina, a hospital, and numerous restaurants and shops, ensures strong appeal to residents and tourists alike. The Town of Kilmarnock, nearby, offers potential access to public water and sewer connections. This unique offering combines the tranquility of rural Virginia with the potential for significant residential development, making it an ideal investment for discerning buyers. The asking price is $5,900,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
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No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.