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    Patrick Henry Hwy Charlotte Court House, VA 23923

    View on Map
    Sponsored
    For Sale
    $295,000

    Land - Charlotte Court House, VA

    Lot size:
    102.00 Acres
    Days on Market:
    11
    Last Refresh:
    Mar 5 at 6:06 am

    Property Features for Patrick Henry Hwy

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Exterior features
    Gently Rolling
    Lot size
    102.00 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jonathan McGrath

    LandVest, Inc. (814) 335-3672

    Listing agent Jonathan McGrath (814) 335-3672

    Listing date Feb 23, 2026

    MLS# 57413 Listing URL

    Copyright © 2026 South Central 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.

    Learn more

    Overview

    102 Acres of Timberland in Virginia

    The Wallace-1 Tract is approximately 102 acres of professionally managed timberland located in Charlotte County, Virginia. The property contains a mix of planted pine that has long-term income potential from timber harvests, and natural hardwood/pine forest that provides quality hunting opportunities. Approximately 72% of the property's acreage is made up of loblolly pine plantation, planted in 2018. The remainder of the property consists of mostly natural hardwood and pine forest along SMZs and Wards Fork Creek which runs along the southeastern boundary. Along Wards Fork Creek, a natural bottom and wetland area acts as a wildlife corridor and has potential for multiple hunting stand locations. The Wallace-1 Tract is located two miles west of Charlotte Court House along Patrick Henry Hwy (VA-40). It is accessed through a gated entrance off VA-40 with approximately 550 feet of road frontage along it. Electric is available along the highway at the front of the property. The property is well suited for the timberland investor, outdoor enthusiast, or someone just looking for their own private escape.
    Location Intelligence

    Current Use by Public Records

    Hunting land

    Map

    City
    Charlotte Court House
    County
    Charlotte
    State
    Virginia
    Longitude
    -78.626882
    Latitude
    37.05809

    Nearby Similar for Sale

    • $89,900
      1,458 SF

      Historic Charlotte Court House Property

      Commercial/Residential property in the heart of Charlotte Court House, Virginia.
      222 David Bruce Ave, Charlotte Court House, VA 23923
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - Managed timberland with hunting potential near Charlotte Court House.
    Where is this agricultural land / farmland located?
    The property is located at Patrick Henry Hwy Charlotte Court House, VA.
    What is the asking price?
    The asking price for this property is $295,000.
    What are key features of this property?
    This property features: - 102 acres of professionally managed timberland with long-term income potential.; - **Significant portion (72%) consists of loblolly pine plantation, planted in 2018, representing a valuable timber asset.**; - Natural hardwood/pine forest and Wards Fork Creek create a wildlife corridor with quality hunting opportunities.
    (814) 335-3672
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    Patrick Henry Hwy Charlotte Court House, VA 23923
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    Charlotte Court House, VA 23923
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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
    Patrick Henry Hwy Charlotte Court House, VA 23923
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    We can help!
    Listing Contact
    Jonathan McGrath
    (814) 335-3672
    Learn more
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