Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1616 Tappahannock Blvd Tappahannock, VA 22560-9346
    Property profile & analytics

    1616 Tappahannock Blvd, Tappahannock, VA 22560-9346

    View on Map
    • Retail space
    • 7,221 SF
    • 0.99 lot acres
    Off-Market
    Last Sale Mar 3, 2020
    Property ID
    US87-3330978
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dunkin' / Cafe & Coffee Shop
    • O'Reilly Auto Parts / Auto Parts Store

    Property Details for 1616 Tappahannock Blvd

    Year built
    2019
    Lot size
    0.99 lot acres
    Property size
    7,221 SF
    Property type
    Retail space
    APN
    37 131B
    APU
    37131B

    Description

    This exceptional investment opportunity presents a 7,225 square foot O'Reilly Auto Parts store in Tappahannock, Virginia. Located at 1616 Tappahannock Blvd, this property boasts a strong 15.2-year remaining lease term (expiring 01/27/2040, commencing 01/28/2020) with a corporate guarantee from the Fortune 500 company, O'Reilly Auto Parts. The Net Lease (NN+) structure minimizes landlord responsibilities, offering a secure, passive income stream. The asking price is $1,993,338, representing a compelling 5.90% cap rate and a price per square foot of $275.89. Built in 2020, the property sits on a 0.92-acre lot and enjoys 100% occupancy, generating a Net Operating Income (NOI) of $117,607. The lease includes built-in rent bumps of 6% at year 11 and year 16, and four 5-year lease options. This prime retail location benefits from high visibility on a busy commercial corridor with over 44,050 vehicles passing daily, and is strategically positioned near major retailers such as Walmart, Lowe's, and Food Lion. The property is suitable for a 1031 exchange. This investment offers a blend of secure income, long-term stability, and significant upside potential in a thriving market. The property is situated in Tappahannock, the oldest town in Essex County, Virginia, offering a unique combination of historical charm and consistent economic activity.

    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
    Tappahannock
    County
    Essex
    State
    Virginia
    Longitude
    -76.8625
    Latitude
    37.9083

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $4,446
    $204,574
    $404,500
    $609,074
    -
    $204,574
    $404,500
    $609,074

    Comparable in this City

    • Value Estimation by Request
      7,424 SF

      900 Winston Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,424 SF
      900 Winston Rd, Tappahannock, VA 22560-5021
      View Details
    • Value Estimation
      $1,660,000
      40,449 SF

      646 Richmond Hwy

      RETAIL STORES (PERSONAL SERVICES) • 40,449 SF
      646 Richmond Hwy, Tappahannock, VA 22560-5565
      View Details
    • Value Estimation by Request
      5,380 SF

      1717 Tappahannock Blvd

      RETAIL STORES (PERSONAL SERVICES) • 5,380 SF
      1717 Tappahannock Blvd, Tappahannock, VA 22560-9349
      View Details
    • Value Estimation by Request
      2,081 SF

      4908 Richmond Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,081 SF
      4908 Richmond Hwy, Tappahannock, VA 22560-5669
      View Details
    • Value Estimation by Request
      7,223 SF

      429 Dock St

      RETAIL STORES (PERSONAL SERVICES) • 7,223 SF
      429 Dock St, Tappahannock, VA 22560
      View Details
    • Value Estimation by Request
      1,500 SF

      3315 Battery Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,500 SF
      3315 Battery Rd, Tappahannock, VA 22560-5930
      View Details

    Similar Nearby for Sale

    • $495,000

      Tappahannock Commercial Opportunity For Sale

      2,000 SF commercial building on 0.57-acre lot in Tappahannock.
      804 S Church Ln, Tappahannock, VA 22560
      View Details
    • $399,000

      Tappahannock Commercial Lot For Sale

      Cleared commercial lot with high traffic exposure in Tappahannock, VA.
      3 Church Ln, Tappahannock, VA 22560
      View Details
    • $165,000
      8.27 Acres

      Waterfront Land in Tappahannock, VA

      Two buildable waterfront lots totaling 8.27 acres on Piscataway Creek.
      lot 9E & 9F Beech Tree Ln, Tappahannock, VA 22560
      View Details
    • Contact for pricing
      Pending

      Wooded Lot in Tappahannock, VA

      Wooded 0.69 acre lot at the end of right-of-way.
      15A Leemac Dr, Tappahannock, VA 22560
      View Details
    • $79,000
      1.01 Acres

      Commercial/Industrial Lot in LaGrange Park

      Prime commercial and industrial building lot in LaGrange Industrial Park.
      1 Ln Grange Industrial Dr, Tappahannock, VA 22560
      View Details
    • Contact for pricing
      1.39 Acres

      Residential Land in Tappahannock, VA

      Residential land for sale in Tappahannock, Virginia.
      Laurel Park Rd, Tappahannock, VA 22560
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,586 SF

      Retail Space Available Spring 2023

      Endcap retail space at a signalized intersection, available Spring 2023.
      1856 Tappahannock Blvd, Tappahannock, VA 22560
      View Details
    • Contact for pricing
      4,000 SF

      Retail Space Near Walmart

      4,000 SF retail space with high visibility.
      1628-1638 Tappahannock Blvd, Tappahannock, VA 22560
      View Details
    • Contact for pricing

      Tappahannock Office, Retail, Medical Space

      Office, retail, or medical/dental space in Tappahannock's commercial corridor.
      1413 Teakwood Dr, Tappahannock, VA 22560
      View Details
    • Contact for pricing

      Food Lion Anchored Retail Center

      Retail spaces available in Food Lion anchored shopping center.
      1838 Tappahannock Blvd, Tappahannock, VA 22560
      View Details
    • Contact for pricing

      Commercial Space for Lease

      Commercial space available for lease in Tappahannock, Virginia.
      1413 Teakwood Dr, Tappahannock, VA 22560
      View Details
    • Contact for pricing

      Teakwood Office Park Space

      Office space for rent in Tappahannock commercial corridor.
      1413 Teakwood Dr, Tappahannock, VA 22560
      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.
    1616 Tappahannock Blvd
    Tappahannock, VA 22560-9346
    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
    1616 Tappahannock Blvd, Tappahannock, VA, 22560
    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!