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OFF-MARKET
Retail space
121 Main St, Lovingston, VA 22949
Individually Owned
Free & Clear
Property ID
US87-2694110
Property summary
AI-generated overview
This 1,476 square foot retail space, located at 121 Main St, Lovingston, VA 22949, is available for $430,000. The property, built in 1900, sits on a 90 square foot lot (APN: 58B-3-32C) and is zoned for Commercial/Industrial use (4-Commercial/Industrial). It's a fee simple ownership with a single tenancy and is currently vacant. The space boasts a newly installed kitchen with modern appliances, a stylish bar countertop, brand new flooring and ceiling, and a convenient rear storage shed. High-quality freezers and refrigerators are included, along with a tempered walk-in refrigeration unit. Seller financing or leasing options may be available. This turnkey opportunity is ideal for a restaurant or bar seeking a vibrant location in Nelson County, Virginia. The property is listed as a NNN lease type. The asking price is $430,000, with a price per square foot of $291.33.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1900
Total area
1,476 SF
Lot
0.09 ac (4,050 SF)
APN
58B 3 32C
UPID
US87-2694110
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Tammy L Knowles
Tammy L Knowles
since 2025
Last sale
$185,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lovingston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lovingston submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
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T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
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Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$350
Tax year 2024
Assessed value
$53,800
Assessed 2024
Previous assessed
$53,800
+0.0% YoY
Effective rate
0.65%
On assessed value
Assessed land
$13,200
Assessed improvement
$40,600
Land market value
$13,200
Improvement market value
$40,600
Total market value
$53,800
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1900
Cooling
CENTRAL
Stories
1
Total area
1,476 SF
Lot
0.09 ac (4,050 SF)
APN
58B 3 32C
UPID
US87-2694110
Jurisdiction
NELSON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1900
Cooling
Yes
Stories
1
Lot
0.09 ac
Current owner
From public records · entity-resolved
Tammy L Knowles
Individual
Free & Clear · 0 yrs held
Mailing address
294 FRESHWATER CV LN, LOVINGSTON, VA 22949-2002
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 15, 2026
—
Tammy L Knowles
—
Deed
related
$2,000 · Joshua Everard
Dec 29, 2025
—
Tammy L Knowles
H W & Dorothy C Mergner T
Deed
related
—
Mar 16, 2023
—
H W & D C Mergner T
Herbert Kerschbaumer
Gift Deed
related
—
Jan 19, 2023
$185,000
Herbert W Kerschbaumer
Luke Ramsey
Deed
—
Mar 24, 2014
—
Claudia Mallory Hancock Brush
Mallory Hancock Deveroux
Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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