Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    HEDRICK RD Scott Depot, WV 25560

    View on Map
    Claim this Listing
    For Sale
    $1,008,000

    LAND - SCOTT DEPOT, WV

    Lot size:
    29.22 Acres
    Added:
    Nov 15, 2023
    Days on Market:
    878
    Last Refresh:
    Apr 11 at 7:06 am

    Property Features for HEDRICK RD

    General Information

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

    Taxes and HOA fees

    Tax Annual Amount
    0

    We can help!

    Listing Contact
    Michael W Pugh
    Michael W Pugh

    Listing agent Michael W Pugh License #WV0003842

    Listing office Old Dominion Realty 2340 S MAIN Street, Harrisonburg, WV

    Listing date Nov 15, 2023

    MLS# WVPU2000008

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    29.22 Acres Approved for Apartments

    This property features 29.22 acres approved for the construction of 144 apartments within the Devonshire community, located in Scott Depot, WV. Water and sewer services are accessible at the site. While approved for apartments, the purchaser has the option to pursue alternative development plans, subject to approval from Putnam County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Scott Depot
    County
    Putnam
    State
    West Virginia
    Longitude
    -81.89137
    Latitude
    38.44804

    Nearby Similar for Sale

    • $59,000

      Scott Depot Land For Sale

      1.11 acre building site with utilities and interstate access.
      Crooked Creek Road lot: 12, Scott Depot, WV 25560
      View Details
    • $51,000

      Residential Lot in Colonial Oaks

      One-acre residential lot in Scott Depot, WV.
      36 Colonial Drive, Scott Depot, WV 25560
      View Details
    • $52,000

      Residential Lot in Colonial Oaks

      Residential lot for sale in Scott Depot, West Virginia.
      105 Colonial Drive, Scott Depot, WV 25560
      View Details
    • $42,500

      Residential Lot in Colonial Oaks

      Residential lot for sale in Scott Depot, West Virginia.
      165 Colonial Drive, Scott Depot, WV 22560
      View Details
    • $42,000

      Residential Lot in Colonial Oaks

      Residential lot for sale in a sought-after location.
      27 Bent Oak Drive, Scott Depot, WV 25560
      View Details
    • $42,500

      Residential Lot in Colonial Oaks

      Acreage to build your dream home in Scott Depot.
      145 Colonial Drive, Scott Depot, WV 25560
      View Details
    • $42,500

      Residential Lot in Colonial Oaks

      Over 1 acre lot to build your dream home.
      159 Colonial Drive, Scott Depot, WV 25560
      View Details
    • $49,500

      Residential Lot in Colonial Oaks

      Residential lot for sale in Scott Depot, West Virginia.
      160 Colonial Drive, Scott Depot, WV 25560
      View Details
    • $45,000

      Residential Lot in Johnson Place

      Corner lot in desirable Scott Depot subdivision.
      ANGELA Drive lot: 46, Scott Depot, WV 25560
      View Details
    • $175,000

      Residential Land in Scott Depot

      Flat 1.63 acre lot in Maplewood Estates with pond.
      109 Maplewood Estates, Scott Depot, WV 25560
      View Details
    • $130,000

      Land in Scott Depot, WV

      6.53 acres in Putnam County, perfect for building.
      Cedar Drive, Scott Depot, WV 25560
      View Details
    • $399,900
      2,540 SF

      One-Story Home on Corner Lot

      One-story home with three bedrooms, three-car garage, new roof.
      230 Frazier Way Unit 230, Scott Depot, WV 25560
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 29.22 acres approved for 144 apartments in Scott Depot, WV.
    Where is this residential land & home lot located?
    The property is located at HEDRICK RD Scott Depot, WV.
    What is the asking price?
    The asking price for this property is $1,008,000.
    What are key features of this property?
    This property features: 29.22 acres approved for 144 apartments.; Water and sewer available at the site.; Located in the Devonshire community.
    (540) 433-2454
    We can help!
    Listing Contact
    Michael W Pugh
    Michael W Pugh
    Real Estate License ID: WV0003842
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!