Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Building Lot Opportunity Title is generated by Realmo AI

    863 JEFFERSON DR, Palmyra, VA 22963

    View on Map
    Claim this Listing
    New
    Pending
    $35,000

    LAND - PALMYRA, VA

    Lot size:
    0.28 Acres
    Added:
    Jun 1, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 4 at 4:06 am

    Property Features for 863 JEFFERSON DR

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    Lot size
    0.28 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Description
    DB 77-277
    Tax Annual Amount
    169

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    PEGGY SHANKLIN

    Listing agent PEGGY SHANKLIN License #0225247109

    Listing office LONG & FOSTER - LAKE MONTICELLO 3661 LAKE MONTICELLO RD, Charlottesville, VA

    Listing date Jun 1, 2026

    MLS# 677863 Listing URL

    Copyright © 2026 Charlottesville Area 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.

    HighLights

    • Level lot
    • Located next to the main gate
    • Easy walk to the main beach
    • Easy walk to the clubhouse, tennis/pickleball courts, and pool
    • Easy walk to the playground

    Overview

    A level residential building lot is available, offering a straightforward site for constructing a home. The property is listed as a land parcel suitable for residential development and is positioned for buyers who want simplicity and easy build access.

    Situated in Palmyra, Virginia, the location is described as especially convenient, with the lot next to the main gate. Public remarks indicate it is within an easy walk to the main beach, clubhouse, tennis/pickleball courts, and the pool, with a playground also nearby.

    This kind of site can appeal to prospective homeowners seeking a primary residence or vacation-style home with strong access to community recreation. With the parcel characterized as level and well-located to shared amenities, it is a practical option for anyone looking to start with a build-ready lot in a residential environment.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Building Supply Auto Repair Shop Gym & Fitness Center Skin Care Clinic Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Palmyra
    County
    Fluvanna
    State
    Virginia
    Longitude
    -78.31289473
    Latitude
    37.92322968

    Nearby Similar for Sale

    • $7,865,000

      Conservation Easement Waterfront Ranch Land

      Large contiguous acreage with a private stocked lake, pond, pasture, and rental cottages for recreational or operating use.
      317 LAKE VIEW LN, PALMYRA, VA 22963
      View Details
    • Contact for pricing
      3,936 SF

      Freestanding Restaurant Investment

      Freestanding restaurant property is fully leased through 12/31/2031 with on-site parking near Route 15 access.
      63 Market Street, Palmyra, VA 22963
      View Details
    • $250,000

      Lake Monticello Golf Course Frontage

      3.73 acres fronting on the golf course in Lake Monticello.
      BARRETT ST, PALMYRA, VA 22963
      View Details
    • $270,000

      Palmyra Land Near Lake Monticello

      21.05 acres near Zion Crossroads, ideal for hunting or building.
      0 Indian Pipe Run, Palmyra, VA 22963
      View Details
    • $799,000

      Two-Tract A1 Farmland Parcel

      Two A1-zoned tracts with a level open field, existing power, and mature hardwoods for homesites, farming, or recreation.
      MARTIN LN, PALMYRA, VA 22963
      View Details
    • $47,000

      Residential Lot in Gated Community

      Wooded lot in Lake Monticello with community amenities.
      TURKEYSAG TRL, PALMYRA, VA 22963
      View Details
    • $850,000
      4,806 SF

      Well-Kept Office Building on Route

      Office building on 1.174 acres in business-friendly Fluvanna.
      6440 Thomas Jefferson Pkwy, Palmyra, VA 22963
      View Details
    • $319,000

      Secluded Palmyra Acreage with Pines

      42.5 acre A-1 zoned tract suited for residence.
      TBD EVERGREEN CHURCH RD, PALMYRA, VA 22963
      View Details
    • $2,900,000
      8,473 SF

      Palmyra Commercial Property For Sale

      Commercial property in Palmyra, VA, ideal for auto-related businesses.
      3304 RURITAN LAKE, Palmyra, VA 22963
      View Details
    • $8,900,000
      55,284 SF

      Established Retail Plaza with Development Potential

      Retail/office space with future development opportunity near Lake Monticello.
      101 Crofton Plz, Palmyra, VA
      View Details
    • $51,500

      Residential Lot Near Lake Monticello

      Residential lot with lake access and community amenities.
      28 JENNINGS DR, PALMYRA, VA 22963
      View Details
    • $35,000

      Recreation Land Lot

      Level recreational lot near key community amenities, ideal for building your weekend or seasonal retreat.
      863 JEFFERSON DR, Palmyra, VA 22963
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Level lot in a convenient residential setting, steps from recreation and main amenities.
    Where is this residential land & home lot located?
    The property is located at 863 JEFFERSON DR Palmyra, VA.
    What is the asking price?
    The asking price for this property is $35,000.
    What are key features of this property?
    This property features: Level lot; Located next to the main gate; Easy walk to the main beach
    (434) 962-2762
    We can help!
    Listing Contact
    PEGGY SHANKLIN
    Real Estate License ID: 0225247109
    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

    Thank You for Inquiry
    863 JEFFERSON DR, PALMYRA, VA 22963
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!