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

    Main St, Kilmarnock, VA 22482

    View on Map
    • Retail properties & Spaces
    • 4,620 SF
    • 0.56 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Main St

    Year built
    1965
    Lot size
    0.56 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional executive office building, located at 24 N Main St in Kilmarnock, Virginia, presents a compelling investment opportunity. Boasting 4,620 square feet of space, this property is situated on a 0.56-acre lot in the central business district, offering convenient access via city streets. Built in 1965, the building features a block and frame construction with a block foundation. The heating system is electric baseboard, and the cooling is provided by central air conditioning. Public water services the property. The permitted zoning is C1, making it suitable for a variety of commercial uses. The building's interior is designed for executive office use, offering ample space for a variety of business needs. This retail and office space is over 3000 square feet, presenting a significant business opportunity. The roof system is of an "other" type, and further details can be provided upon request. The asking price for this property is $495,000. The property's location in the heart of Kilmarnock, Virginia, zip code 22482, offers excellent visibility and accessibility. This is a rare opportunity to acquire a well-located, established commercial property in a thriving business district. A 3% buyer's commission applies.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Kilmarnock
    County
    Lancaster
    State
    Virginia
    Longitude
    -76.3876
    Latitude
    37.723

    Comparable in this City

    • Value Estimation by Request
      30,320 SF

      54 Irvington Rd

      Land
      54 Irvington Rd, Kilmarnock, VA 22482
      View Details
    • Value Estimation by Request
      1,636 SF

      90 Main St

      Individual retail properties
      90 Main St, Kilmarnock, VA 22482
      View Details
    • Value Estimation by Request
      2,500 SF

      35 Cralle Ct

      OFFICE/RESIDENTIAL (MIXED USE)
      35 Cralle Ct, Kilmarnock, VA 22482
      View Details
    • Value Estimation by Request
      12,000 SF

      Kilmarnock, VA 22482

      OFFICE/RESIDENTIAL (MIXED USE)
      Kilmarnock, VA 22482
      View Details
    • Value Estimation by Request
      2,880 SF

      511 Main St

      OFFICE/RESIDENTIAL (MIXED USE)
      511 Main St, Kilmarnock, VA 22482
      View Details
    • Value Estimation
      $525,000
      6,480 SF

      160 Technology Park Dr

      OFFICE/RESIDENTIAL (MIXED USE)
      160 Technology Park Dr, Kilmarnock, VA 22482-3837
      View Details

    Similar Nearby for Sale

    • $325,000
      624 SF

      Kilmarnock Retail Space - Main Street

      Prime Retail Building, Updated, Great Location
      507 Main St, Kilmarnock, VA 22482
      View Details
    • $447,900
      2,527 SF

      Historic Kilmarnock Office Building

      Charming Office, Updated, High Visibility
      89 Main St, Kilmarnock, VA 22482
      View Details
    • $495,000
      4,620 SF

      Kilmarnock Commercial Space on Main

      Prime location retail/office space in Kilmarnock, Virginia.
      24 North Main St, Kilmarnock, VA 22482
      View Details
    • $345,000
      1,636 SF

      Kilmarnock Commercial Property For Sale

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

      Kilmarnock Commercial Property For Sale

      Highly visible commercial property with flexibility and potential in Kilmarnock.
      200 Irvington Rd, Kilmarnock, VA 22482
      View Details
    • $72,000
      Pending

      Kilmarnock Land For Sale

      Two adjacent parcels totaling 0.19 acres in Kilmarnock, VA.
      L38/39 Cralle Ct, Kilmarnock, VA 22482
      View Details

    Similar Nearby for Lease

    • $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
    • 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
    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.
    Main St
    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
    Main St, 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!