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    900 Main St Farmville, VA 23901
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    900 Main St, Farmville, VA 23901

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    • Neighborhood centers
    • 96,917 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Southgate Shopping Center / Shopping Center & Mall
    • Cyork Photography / Wedding Service / Photography Service

    Property Details for 900 Main St

    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    The Southgate Center, located at 900 South Main Street in Farmville, Virginia, presents a unique retail leasing opportunity. This established strip center and restaurant space totals 96,917 square feet and sits on a generous 9.51-acre lot. Currently, there is one suite available, offering 1,833 square feet of versatile space, ideal for a variety of retail uses. The property boasts ample parking with 446 spaces to accommodate customers and employees. Situated in Prince Edward County, the center benefits from high visibility and convenient access, making it an attractive location for businesses seeking strong foot traffic. The property's location in Farmville, VA, zip code 23901, offers a thriving community and a strategic position within the region. This is a chance to secure a well-established retail space in a desirable location with significant potential for growth. The property's size and parking capacity make it suitable for a range of businesses, from restaurants to retail shops. The available space is ready for immediate occupancy, providing a seamless transition for new tenants. Interested parties are encouraged to inquire for further details and leasing information.

    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
    -78.3988
    Latitude
    37.2906

    Comparable in this City

    • Value Estimation by Request
      107,530 SF

      1403-1439 Main St

      Neighborhood centers
      1403-1439 Main St, Farmville, VA 23901
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    • Value Estimation by Request
      15,500 SF

      95 Dominion Dr

      Retail properties & Spaces
      95 Dominion Dr, Farmville, VA 23901
      View Details
    • Value Estimation by Request
      15,500 SF

      15 At Dominion Dr

      Individual retail properties
      15 At Dominion Dr, Farmville, VA 23901
      View Details
    • Value Estimation by Request
      5.39 Acres

      710 Main St

      RETAIL STORES (PERSONAL SERVICES)
      710 Main St, Farmville, VA 23901-3006
      View Details
    • Value Estimation by Request
      1.17 Acres

      1306 Main St

      RETAIL STORES (PERSONAL SERVICES)
      1306 Main St, Farmville, VA 23901-3058
      View Details
    • Value Estimation by Request
      0.27 Acres

      703 Main St

      RETAIL STORES (PERSONAL SERVICES)
      703 Main St, Farmville, VA 23901-3038
      View Details

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    Similar Nearby for Lease

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      Retail Space Near Longwood University

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      Spacious Office Suite For Lease

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    900 Main St
    Farmville, VA 23901
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    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
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