51
Map
2598 CHERRYSTONE ROAD
About This Property
Listed By
Payment Calculator
Your Estimated Monthly Payment
Cap Rate Calculator
What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 7, 2026 | Price Decreased |
$3,050,000
↓ $100K
(3.2%) | |
| Price Decreased | |||
| Jun 13, 2026 | Listed by Long & Foster Real Estate, Inc. | $3,150,000 | |
| Listed by Long & Foster Real Estate, Inc. | |||
| Mar 5, 2025 | Listed | $3,400,000 | |
| Listed | |||
| | |||
|
Cape Charles area Historic Home on 94.65 acres of waterfront land w/just under a mile of boating depth saltwater shoreline - divided into 11 lots, 2 with homes, including "Huntington House" circa 1780, with 3 bedrooms, 3.5 baths, studio or guest room, large family room with Fireplace, laundry room, basement, Guest house, sheds, old dock site, and a historic family cemetery. The land has south and western exposures over the water, with amazing sunset vistas over the expansive Cherrystone Creek inlet and the Chesapeake Bay. Ideal as Family Legacy Estate, or future development as subdivided. A scenic rural farming area just outside towns of Cape Charles and Cheriton. Land is Currently in an "AFD" (Ag-Forest Taxation District) until 2028 which lowers the property taxes. Fields are leased for crops, the main house is a vacation rental, the guest house usually vacant. The property has an 8-parcel subdivision with 5 waterfront lots from 7 to 9 acres each, 2 small farms of 15 & 16 acres each and one 5.5 acre farm. The main house lot has 16.7 acres which forms a "point lot". All of this is offered as a single parcel of 94.65 acres, all of which is adjoining and together. The layout is shown on a photograph as a tax map sketch. The surveys are attached as "Supplements". This division of the land can be very useful for developing a family compound, estate planning, disbursement to family members, investment/development use or conversion to conservation for tax credits. There is an Additional 39 ac of mostly wooded waterfront land across the street that is also available separately. Located just a few minutes from the vibrant Cape Charles Downtown historic district, public boat launches, the town harbor and Yacht Center, or the Kings Creek Yacht marina, numerous restaurants and shops, and a beautiful white sand town beach and fun pier boardwalk and fishing pier. The property is about 11 miles north of the Chesapeake Bay Bridge Tunnell (to Virginia Beach) and is under an hour from Norfolk International Airport.
| |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017