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    1 WOLF CREEK Cove Bland, VA 24315

    View on Map
    For Sale
    $1,600,000

    COMMERCIAL - BLAND, VA

    Lot size:
    11.95 Acres
    Added:
    Mar 11, 2026
    Days on Market:
    24
    Last Refresh:
    Apr 3 at 10:06 pm

    Property Features for 1 WOLF CREEK Cove

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Lot size
    11.95 Acres

    Taxes and HOA fees

    Tax Annual Amount
    713

    We can help!

    Listing Contact
    Virginia S Smith
    Virginia S Smith

    Listing agent Virginia S Smith License #0225002867

    Listing office Arlington Realty, Inc. 701 23rd Street, Arlington, VA

    Listing date Mar 11, 2026

    MLS# VABL2000002 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Prime Land for Commercial Development

    This 11.95-acre parcel, situated off I-77 at 1 Wolf Creek Cove in Bland County, Virginia, presents an opportunity for commercial development. The property is zoned Commercial (C), allowing for various by-right uses, including retail, restaurants, offices, churches, childcare or elder care facilities, and personal service businesses. A use permit has been approved by Bland County for a recreational facility. The location is suited for a campground, RV park, or cabin resort. Public water, sewer, and electric utilities are located nearby. This land offers developers the chance to create a recreation-driven retreat.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Bland
    County
    Bland
    State
    Virginia
    Longitude
    -81.0139
    Latitude
    37.1394

    Nearby Similar for Sale

    • $750,000

      Bland, VA Farm with Views

      132 acre farm with mountain views and grazing land.
      621 Point Pleasant Rd lot: 2 & 4, Bland, VA 24315
      View Details
    • $166,640

      41 Acres of Recreational Land

      41 acres near Bland Elementary with creek and road frontage.
      41 acres E Blue Grass Trl lot: 33, Bland, VA 24315
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    • $160,000

      40 Acres of Wooded Land

      Wooded 40-acre tract ideal for hunting and recreation.
      Kimberling Rd. lot: 10A, 10B2, Bland, VA 24315
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    FAQs

    What type of property is this?
    Commercial land - Exceptional 11.95-acre parcel ideal for campground or commercial development.
    Where is this commercial land located?
    The property is located at 1 WOLF CREEK Cove Bland, VA.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: Use permit approved for recreational facility; Zoned commercial (C) with many by‑right uses; Located just off I‑77 in Southwest Virginia
    (703) 836-1116
    We can help!
    Listing Contact
    Virginia S Smith
    Virginia S Smith
    Real Estate License ID: 0225002867
    Learn More
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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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