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    240 Ridge Top Dr Rural Retreat, VA 24368

    Sponsored
    For Sale
    $299,900

    MULTI_FAMILY - Rural Retreat, VA

    Property size:
    1,000 SF
    Lot size:
    29.31 Acres
    Days on Market:
    38
    Last Refresh:
    Feb 6 at 2:06 pm

    Property Features for 240 Ridge Top Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Window features
    Vinyl Frames
    Rooms
    Bedroom 6, Bedroom 1, Bedroom 4, Bedroom 2, Bedroom 7, Bedroom 5, Bedroom 3
    Bedrooms
    7
    Exterior features
    Garden
    Basement
    Crawl Space
    Appliances
    Electric Water Heater
    Size
    1,000 SF
    Lot size
    29.31 Acres

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Heat Pump (Heating), Electric (Heating)
    Cooling system
    Electric, Central Air
    Water source
    Well
    Water front features
    Pond
    Water front
    1

    Building Details

    Year built
    1978
    Number of units
    3
    Flooring type
    Plank, Vinyl, Carpet
    Building materials
    Metal Siding, Vinyl Siding
    Roof type
    Shingle, Metal
    Additional Structures
    Outbuilding

    We can help!

    Listing Contact
    Judy Short
    Judy Short

    Short Way Real Estate, Inc. (276) 620-0150

    Listing agent Judy Short (276) 620-0150

    Listing date Dec 31, 2025

    MLS# 103354 Listing URL

    Copyright © 2026 Southwest Virginia Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Farm with Multiple Residences

    This 29.31-acre farm offers 360-degree views and is divided into 5 lots. The property includes three homes: two singlewide residences and one doublewide. Additional structures include a large barn and a garage/workshop. The land is accessible by vehicle throughout. There are two existing wells and three septic systems on the property. The property is located in Rural Retreat, VA. Potential uses include farming with rental income, a family compound, or building a custom home.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Cafe & Coffee Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Rural Retreat
    County
    Wythe
    State
    Virginia
    Longitude
    -81.3064879
    Latitude
    36.9202535

    Nearby Similar for Sale

    • $299,900
      29.31 Acres

      29.31 Acres with Multiple Residences

      Farm with multiple residences, barn, garage, wells, and septic.
      29.31 Ac Rdg Top Dr, Rural Retreat, VA 24368
      View Details

    FAQs

    What type of property is this?
    Farm - 29.31 acre farm with three homes and outbuildings.
    Where is this farm located?
    The property is located at 240 Ridge Top Dr Rural Retreat, VA.
    What is the asking price?
    The asking price for this property is $299,900.
    What are key features of this property?
    This property features: - 29.31 acres of land, divisible into 5 lots.; - Three homes included: two singlewides and one doublewide.; - Enjoy **360-degree views and mature trees.**
    (276) 620-0150
    Request Owner's contact information
    240 Ridge Top Dr Rural Retreat, VA 24368
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    Rural Retreat, VA 24368
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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
    240 Ridge Top Dr Rural Retreat, VA 24368
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    We can help!
    Listing Contact
    Judy Short
    Judy Short
    Real Estate License ID: 0225045099
    (276) 620-0150
    Learn more
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