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    516 Cherrywood Ln, Unit 70-A-136B Independence, VA 24348

    For Sale
    $699,900

    LAND - Independence, VA

    Lot size:
    88.33 Acres
    Days on Market:
    10
    Last Refresh:
    Dec 8 at 4:06 pm

    Property Features for 516 Cherrywood Ln

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RF
    Fencing
    Fenced
    Lot size
    88.33 Acres

    Utilities

    Utilities
    Electricity Available
    Sewer type
    Septic Tank
    Water source
    Well
    Water front features
    Creek
    Water front
    1

    Collins & Associates Realty (276) 233-5494 [email protected]

    Listing agent Joan Collins (276) 233-5494

    Listing date Nov 29, 2025

    MLS# 98071 Listing URL

    Copyright © 2025 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.

    Overview

    Blue Ridge Mountain Farm Land

    This 88.325-acre farm property is located in the Blue Ridge Mountains and features a mix of pasture and wooded land. The property has frontage on two state-maintained roads, specifically Highway 58 and Cherrywood Lane. A year-round creek flows through the land, and a one-year-old 40 x 60 barn with a 16 x 60 second floor is accessible from Highway 58. The Cherrywood Lane driveway leads to a homesite location that offers mountain views, a new well and septic system, and a temporary power pole. A farm road provides car access to much of the farm. There is also a 30 x 50 temporary platform. The property is suitable for various projects, including equestrian activities or building a dream home. Multiple building sites are available due to the frontage on two roads. The location is near the New River and the NC/VA line.
    Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Discount Store Convenience Store Pawn Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Independence
    County
    Grayson
    State
    Virginia
    Longitude
    -81.25879847
    Latitude
    36.61418589

    Nearby Similar for Sale

    • $79,000
      1,500 SF

      Commercial Property Near Historic Courthouse

      Commercial property with office space, conference rooms, and kitchen area.
      116-122 N Independence Ave, Independence, VA 24348
      View Details

    FAQs

    What type of property is this?
    Farm - 88.325 acres of pasture and wooded land with creek.
    Where is this farm located?
    The property is located at 516 Cherrywood Ln, Unit 70-A-136B Independence, VA.
    What is the asking price?
    The asking price for this property is $699,900.
    What are key features of this property?
    This property features: - 88+ acre farm with pasture and woods in the Blue Ridge Mountains; - New well and septic system installed at homesite with mountain views; - Year-round creek and **new 40 x 60 barn with 16 x 60 second floor**
    (276) 233-5494
    Request Owner's contact information
    516 Cherrywood Ln, Unit 70-A-136B Independence, VA 24348
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    Realmo Value Estimation

    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.

    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.

    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
    516 Cherrywood Ln, Unit 70-A-136B Independence, VA 24348
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