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    902 River Road Bracey, VA 23919

    View on Map
    New
    Pending
    $349,900

    Residential/Vacation - Bracey, VA

    Type:Farm
    Property size:
    1,987 SF
    Lot size:
    0.35 Acres
    Added:
    Mar 29, 2026
    Days on Market:
    5
    Last Refresh:
    Apr 2 at 2:06 am

    Property Features for 902 River Road

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Zoning
    Residential
    Bedrooms
    3
    Bathrooms
    3
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3
    Parking features
    Carport, None
    Interior features
    Walk-in Closet(s), Hot Tub/Whirlpool Tub, Washer &/Or Dryer Hookup
    Exterior features
    Storage Building
    Fireplace
    1
    Appliances
    Dishwasher, Dryer, Range, Refrigerator, Washer
    Standard status
    Pending
    Size
    1,987 SF
    Lot size
    0.35 Acres

    Utilities

    Heating system
    Electric (Heating), Fireplace(s)
    Cooling system
    Central Air
    Water front features
    Lake Gaston, Main Lake

    Building Details

    Year built
    2003
    Floors in Building
    1
    Building materials
    Vinyl Siding
    Roof type
    Composition
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Alyssa Harper-Hayes

    Listing agent Alyssa Harper-Hayes

    Listing office The Pointe Realty Group (Littleton) 2105 Eaton Ferry Road, Littleton, VA

    Listing date Mar 29, 2026

    MLS# 141829 Listing URL

    Copyright © 2026 Roanoke Valley Lake Gaston Board 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

    Lake Gaston Home with Views

    Located in Bracey, Virginia, this residential property at 902 River Road offers lake views and sunsets. The property is situated in the Martin Farm community. The home features an open floor plan with three bedrooms and 2.5 baths. It has been updated and includes a new roof. The property size is 1987 square feet and the lot size is 0.35 acres. A boat landing is located near the property, offering access to Lake Gaston. The property is intended for residential or vacation use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Real Estate Agency Building Supply Department Store Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Bracey
    County
    Mecklenburg
    State
    Virginia
    Longitude
    -78.1277024
    Latitude
    36.5676449

    Nearby Similar for Sale

    • $495,000

      Established Butcher Shop Near Lake Gaston

      Thriving butcher shop, deli, and grocery store for sale.
      50 Golf Drive, Bracey, VA 23919
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    • $329,900
      1,514 SF

      New Craftsman Home Near Lake

      New 3-bedroom home in lakefront community, ready February.
      141 Jamestown Lane, Bracey, VA 23919
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    • $359,900
      1,500 SF

      New Farmhouse Living at Lake Gaston

      New construction farmhouse near Lake Gaston, move-in ready by December 2025.
      162 Marina Road, Bracey, VA 23919
      View Details
    • $1,550,000

      Lake Gaston Storage Facility Opportunity

      Thriving storage business near Lake Gaston with expansion potential.
      9150 Highway 903, Bracey, VA 23919
      View Details

    FAQs

    What type of property is this?
    Single family property - Move-in ready home with lake views and community boat landing.
    Where is this single family property located?
    The property is located at 902 River Road Bracey, VA.
    What is the asking price?
    The asking price for this property is $349,900.
    What are key features of this property?
    This property features: Breathtaking Lake Gaston views from front and back porches; Boat landing steps from the front yard providing lake access; Move‑in ready condition with a new roof and modern updates
    (434) 865-1202
    We can help!
    Listing Contact
    Alyssa Harper-Hayes
    Real Estate License ID: 0225243150
    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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