Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    000 Atlee Station Rd Hanover, VA 23003

    View on Map
    Picture of Commercial land at 000 Atlee Station Rd, Hanover, VA
    For Sale
    $1,074,200

    Lots/Land/Farm - Hanover, VA

    Type:Farm
    Lot size:
    8.77 Acres
    Added:
    Aug 1, 2025
    Days on Market:
    245
    Last Refresh:
    Apr 2 at 4:06 am

    Property Features for 000 Atlee Station Rd

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Standard status
    Active
    Lot size
    8.77 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    8995

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Peggy Sue Long

    Listing agent Peggy Sue Long

    Listing office Bay/River 607 Rappahannock Drive, VA

    Listing date Aug 1, 2025

    MLS# 2521632 Listing URL

    Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Hanover Land Near Atlee High

    This 8.773-acre lot is centrally located with convenient access to restaurants, doctors, shopping, and schools within walking distance. Situated adjacent to Atlee High School access road, the property is currently zoned B-O, making it suitable for businesses or office use. The county master plan also indicates that residential use is a possibility. The listing price is below the current county assessment.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Hanover
    County
    Hanover
    State
    Virginia
    Longitude
    -76.5764
    Latitude
    37.4383

    Nearby Similar for Sale

    • $399,950

      Hanover VA Homesite Ready to Build

      Exceptional 11-acre homesite ready for your vision.
      12262 Cedar Lane, Hanover, VA 23005
      View Details
    • $149,500

      Two-Acre Parcel in Hanover, VA

      Two-acre cleared lot near Ashland, perfect for building a home.
      12257 Cedar Lane, Hanover, VA 23005
      View Details
    • $999,500

      Undeveloped Land in Hanover, Virginia

      36.47 acres of undeveloped land with easement access.
      Pouncey Tract Road, Hanover, VA 23146
      View Details
    • $120,000

      Hanover, VA Wooded Land Parcel

      4.35-acre wooded parcel with road frontage in Hanover, VA.
      TBD Westwood Rd, Hanover, VA 23111
      View Details
    • $1,074,200

      Hanover Land For Sale

      Commercial land in a convenient location near amenities.
      Atlee Station Road, Hanover, VA 23003
      View Details
    • $875,000

      Hanover, VA Land For Sale

      86.5 acre land parcel available in Hanover, Virginia.
      King William Road, Hanover, VA 23069
      View Details
    • $1,750,000

      Hanover, VA Land For Sale

      134.69 acre land parcel in Hanover, Virginia.
      King William Road, Hanover, VA 23069
      View Details
    • $13,402,194

      950+ Acre Land Parcel

      Large land parcel available for sale in Hanover, Virginia.
      30473 Camp Rd, Hanover, VA 23069
      View Details

    FAQs

    What type of property is this?
    Commercial land - 8.773 acre lot near Atlee High School.
    Where is this commercial land located?
    The property is located at 000 Atlee Station Rd Hanover, VA.
    What is the asking price?
    The asking price for this property is $1,074,200.
    What are key features of this property?
    This property features: Prime location central to conveniences: restaurants, doctors, shopping, and schools within walking distance.; Zoned B‑O, suitable for business or office use.; County master plan indicates residential use is also appropriate.
    (888) 536-0216
    We can help!
    Listing Contact
    Peggy Sue Long
    Real Estate License ID: 0225197713
    Learn More
    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.
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!