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

    144 JEFFERSON Avenue Locust Grove, VA 22508

    View on Map
    For Sale
    Under Contract
    $105,000

    LAND - LOCUST GROVE, VA

    Added:
    Mar 17, 2026
    Days on Market:
    18
    Last Refresh:
    Apr 3 at 5:06 am

    Property Features for 144 JEFFERSON Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active Under Contract

    Taxes and HOA fees

    TaxAnnualAmount
    483

    Utilities

    Water front features
    Navigable Water

    We can help!

    Listing Contact
    Lauren M Cotton
    Lauren M Cotton

    Listing agent Lauren M Cotton License #0225226090

    Listing office Coldwell Banker Elite 4207 GERMANNA Highway unit: A, Stafford, VA

    Listing date Mar 17, 2026

    MLS# VAOR2013542

    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

    Level Lot in Lake Community

    Located in Lake of the Woods, this level lot on Jefferson Avenue offers a setting for building a home. The property is mostly cleared, providing openness while allowing for customized design. Lake of the Woods provides a lakeside lifestyle with amenities. A 550-acre lake is available for fishing and water sports. A PGA course caters to golf enthusiasts, while equestrians can utilize riding trails and a riding ring. The clubhouse offers dining with sunset views. The community fosters connections through events and clubs. Gated entrances and security patrols provide tranquility. Situated in Locust Grove, the property allows access to shopping, dining, wineries, and historical landmarks. Nearby commuter routes facilitate travel to surrounding areas.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Hair Salon Nail Salon Auto Repair Shop Auto Parts Store Electronics & Wireless Store Computer & Electronic Repair Electrical Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Locust Grove
    County
    Orange
    State
    Virginia
    Longitude
    -77.77005
    Latitude
    38.31912

    Nearby Similar for Sale

    • $575,000

      Waterfront Lot for Dream Home

      Almost half-acre waterfront lot with lake views and frontage.
      1915 LAKEVIEW Parkway, LOCUST GROVE, VA 22508
      View Details
    • $450,000

      Commercial Land in Locust Grove

      1.51-acre commercial land parcel zoned C2 in Locust Grove, VA.
      GERMANNA HWY, LOCUST GROVE, VA 22508
      View Details
    • $660,000

      Secluded Farmhouse on 30 Acres

      Farmhouse on 30 acres, potential for subdivision or rental income.
      31934 INDIANTOWN Road, LOCUST GROVE, VA 22508
      View Details
    • $115,000

      Residential Lot in Gated Community

      0.25 acre lot in amenity-rich Lake of the Woods community.
      201 CUMBERLAND Circle, LOCUST GROVE, VA 22508
      View Details
    • $107,000

      Residential Land in Lake Community

      Level, wooded lot in Lake of the Woods community.
      616 MT PLEASANT Drive, LOCUST GROVE, VA 22508
      View Details
    • $1,099,000

      Versatile 128-Acre Tract in Locust Grove

      Spacious, secluded land with mature timber and recreational potential.
      Lewistown Road, Locust Grove, VA 22508
      View Details
    • $129,900

      Secluded Locust Grove Agricultural Land

      10.53 acres of secluded land in Locust Grove, Virginia.
      LEES Court lot: 39, LOCUST GROVE, VA 22508
      View Details
    • $100,000

      Land in Lake of the Woods

      Residential lot in amenity-rich Lake of the Woods community.
      203 BATTLEFIELD Road, LOCUST GROVE, VA 22508
      View Details
    • $98,000

      Residential Land in Gated Community

      Land for custom home in Lake of the Woods community.
      119 REPUBLIC Avenue, LOCUST GROVE, VA 22508
      View Details
    • $270,000

      Locust Grove Acreage with Potential

      17.76 acres in Locust Grove, build-ready with cleared land.
      DECANTIS Drive, LOCUST GROVE, VA 22508
      View Details
    • $85,000

      Wooded Homesite in Growing Area

      2.06-acre wooded parcel ideal for custom home.
      0014C DECANTIS Drive, LOCUST GROVE, VA 22508
      View Details
    • $25,000

      Wooded Land Parcel For Sale

      2.25-acre wooded parcel in a peaceful rural setting.
      Indiantown Road, Locust Grove, VA 22508
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential lot in amenity-rich Lake of the Woods community.
    Where is this residential land & home lot located?
    The property is located at 144 JEFFERSON Avenue Locust Grove, VA.
    What is the asking price?
    The asking price for this property is $105,000.
    What are key features of this property?
    This property features: Amenity‑rich Lake of the Woods community with a **550‑acre lake for fishing and water sports.**; Level, mostly cleared lot ready for building a custom home.; Access to a **PGA golf course, equestrian facilities (riding trails and ring), and a clubhouse.**
    (540) 710-4217
    We can help!
    Listing Contact
    Lauren M Cotton
    Lauren M Cotton
    Real Estate License ID: 0225226090
    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!