Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Land in Quiet Development Title is generated by Realmo AI

    Duffey Lane, Stuart, VA 24171

    View on Map
    Claim this Listing
    For Sale
    $65,000

    LAND - Stuart, VA

    Lot size:
    8.89 Acres
    Added:
    Jul 14, 2024
    Days on Market:
    688
    Last Refresh:
    Jun 1 at 5:06 am

    Property Features for Duffey Lane

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    8.89 Acres

    We can help!

    Listing Contact
    Sam Harrod Jr.

    Listing agent Sam Harrod Jr.

    Listing office Blue Ridge Real Estate P.O. Box 713, Stuart, VA

    Listing date Jul 14, 2024

    MLS# 141767 Listing URL

    Copyright © 2026 Martinsville, Henry, Patrick Counties 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

    • Owner financing is available.
    • Conveniently located near Fairystone Park, Philpott Lake, and Goose Point Park.
    • Close proximity to the Blue Ridge Parkway.
    • Multiple building sites available, including sloping and flat options.
    • Located near towns of Stuart, Bassett, Martinsville, Floyd, and Meadows of Dan.
    • Quiet development with potential.

    Overview

    This 8.894-acre property is located in Melmark Acres, a quiet development with building sites ranging from sloping to flat. The location is convenient to Fairystone Park, Philpott Lake, and Goose Point Park. It is also near the Blue Ridge Parkway and the towns of Stuart, Bassett, Martinsville, Floyd, and Meadows of Dan. Several area attractions include the Apple Dumpling Festival, the Strawberry Festival, and the Beach Music Festival, as well as music in Floyd on Friday and Saturday nights. There are restrictions in this community, and an annual road maintenance fee applies.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Stuart
    County
    Patrick
    State
    Virginia
    Longitude
    -80.23
    Latitude
    36.6766

    Nearby Similar for Sale

    • $199,000

      Stuart, VA Commercial Opportunity

      Cape-cod style building with commercial or residential potential.
      115 W Blue Ridge Street, Stuart, VA 24171
      View Details
    • $159,000

      Stuart, VA Investment Opportunity

      Three single-wide mobile homes with rental history in Stuart, VA.
      Buena Vista Avenue, Stuart, VA 24171
      View Details
    • $119,900

      Prime Land in Stuart, VA

      15+ acre tract near Hwy 58 with town utilities.
      Landmark Dr lot: 32G, 32F, Stuart, VA 24171
      View Details
    • $310,000
      3,000 SF

      Downtown Stuart Storefront Opportunity

      Unique 3000 sq ft commercial building in historic Stuart, VA.
      322 Patrick Avenue, Stuart, VA 24171
      View Details
    • $125,950

      Hunting Land Near Stuart, VA

      22.94 acres of wooded hunting land near Stuart, Virginia.
      Jeb Stuart Hwy, Stuart, VA 24171
      View Details
    • $425,000

      70 Acres Farm with Views

      Sprawling 70-acre farm with mountain views and lush pastures.
      Jeb Stuart Hwy & Massey Rd lot: 5110-4, Stuart, VA 24171
      View Details
    • $699,000

      145+ Acre Recreational Land with Pond

      Wooded land with pond, picnic shelter, and building sites.
      TBD Scenic Drive, Stuart, VA 24171
      View Details
    • $12,900

      Land For Sale in Stuart

      One acre of land suitable for commercial or residential use.
      Fairystone Park Highway, Stuart, VA 24171
      View Details
    • $325,000

      56 Acres of Farmland in Stuart

      56 acres of rolling pasture and mature wooded land.
      0TBD Santa Clause Ln, Stuart, VA 24171
      View Details
    • $39,900

      Patrick County Wooded Land Parcel

      5.17 acre wooded parcel in Patrick County, Virginia.
      Pine Knoll Farms, Stuart, VA 24171
      View Details
    • $40,900

      Wooded Land Parcel in Stuart

      5.81-acre wooded parcel suitable for residence or investment.
      Pine Knoll Farms Loop, Stuart, VA 24171
      View Details
    • $79,900

      Recreational Land with Creek Frontage

      25.449 acres of wooded land with creek frontage.
      Pole Bridge Rd. lot: J,H,I,F,G, Stuart, VA 24171
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Land with building sites near parks and attractions.
    Where is this residential land & home lot located?
    The property is located at Duffey Lane Stuart, VA.
    What is the asking price?
    The asking price for this property is $65,000.
    What are key features of this property?
    This property features: Owner financing is available.; Conveniently located near Fairystone Park, Philpott Lake, and Goose Point Park.; Close proximity to the Blue Ridge Parkway.
    (276) 693-3810
    We can help!
    Listing Contact
    Sam Harrod Jr.
    Learn More
    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
    Duffey Lane, Stuart, VA 24171
    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!