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    344 FREEMASON RUN RD Mount Solon, VA 22843

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    Claim this Listing
    Pending
    $1,495,000

    Farm House, Farm - MOUNT SOLON, VA

    Type:Farm
    Property size:
    2,980 SF
    Lot size:
    36.00 Acres
    Added:
    Jun 12, 2024
    Days on Market:
    686
    Last Refresh:
    Apr 28 at 5:06 pm

    Property Features for 344 FREEMASON RUN RD

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Zoning
    GA General Agricultural
    Bedrooms
    5
    Bathrooms
    1
    Rooms
    Basement, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking
    1
    Parking features
    Garage
    Exterior features
    Fence
    Fencing
    Fenced
    Basement Y/N
    1
    Standard status
    Pending
    APN
    010-81 & 010-82J
    Size
    2,980 SF
    Lot size
    36.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1

    Utilities

    Heating system
    Forced Air, Oil, Wood (Heating)

    Building Details

    Year built
    1863
    Floors in Building
    2
    Flooring type
    Carpet, Vinyl, Wood
    Roof type
    Slate
    Architectural style
    Other

    We can help!

    Listing Contact
    John Bowman
    John Bowman

    Listing agent John Bowman License #0225085237

    Listing office Old Dominion Realty Inc 2340 S Main St, Harrisonburg, VA

    Listing date Jun 12, 2024

    MLS# 653943 Listing URL

    Copyright © 2026 Harrisonburg-Rockingham 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.

    Overview

    Farm with Antebellum Home

    Located in Mount Solon, Virginia, this property features a farm and an antebellum-style home situated on 36 acres. The home includes 5 bedrooms and 1 full bath. The main level features a large living room, a dining room with heart pine floors, and a spacious kitchen equipped with birch cabinets and a pantry. One large bedroom and a bath are located on the main level, with the remaining 4 bedrooms on the second floor. The home is heated by an oil furnace and a wood stove and has a slate roof. The farm includes two broiler houses, one measuring 42' x 400' and the other 42' x 504', currently under contract with George’s. Both houses are cool celled and tunneled. Additional structures include a 48' x 80' litter shed with concrete side walls, a 40' x 120' calf barn, and a 60' x 98' calving barn with an office/equipment room, electric, 4 pins, alley, and 3 outside lots. There is also a large bank barn, numerous other buildings, and excellent fencing.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Spa & Massage Center Big Box & Wholesale Store Hair Salon Nail Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Mount Solon
    County
    Augusta
    State
    Virginia
    Longitude
    -79.0997403
    Latitude
    38.3390333

    FAQs

    What type of property is this?
    Farm - Poultry farm with well-built home on 36 acres.
    Where is this farm located?
    The property is located at 344 FREEMASON RUN RD Mount Solon, VA.
    What is the asking price?
    The asking price for this property is $1,495,000.
    What are key features of this property?
    This property features: Operating Poultry Farm: Includes two broiler houses currently under contract with George’s, offering immediate income potential.; Extensive Farm Infrastructure: Features a litter shed, calf barn, and a calving barn with office/equipment room.; Spacious Antebellum Home: A 5‑bedroom home with heart pine floors in the dining room and a spacious kitchen.
    (540) 433-2454
    We can help!
    Listing Contact
    John Bowman
    John Bowman
    Real Estate License ID: 0225085237
    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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