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

    Reservoir View Dr lot 5 Pittsville, VA 24139

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    LAND - Pittsville, VA

    Lot size:
    5.22 Acres
    Added:
    Nov 11, 2025
    Days on Market:
    154
    Last Refresh:
    Apr 14 at 9:06 pm

    Property Features for Reservoir View Dr lot 5

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R1
    Standard status
    Active
    APN
    1593-87-2875
    Lot size
    5.22 Acres

    Taxes and HOA fees

    Tax Annual Amount
    150

    We can help!

    Listing Contact
    MICHELLE H LANIER

    Listing agent MICHELLE H LANIER

    Listing office WAINWRIGHT & CO., REALTORS(R)- LAKE 16503 BOOKER T WASHINGTON HWY, Salem, VA

    Listing date Nov 11, 2025

    MLS# 922668

    Copyright © 2026 Roanoke Valley 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.

    Overview

    Waterfront Land in Pittsville, VA

    This 5.22-acre tract of land in Pittsville, VA, offers 50 feet of waterfront access. The property, located on Reservoir View Dr lot: 5, is heavily wooded, presenting the potential for clearing to create mountain and lake views. Situated in Parkers Landing on Leesville Lake, the land provides great lake access and is suitable for a private getaway with few restrictions. A community boat dock/slips and boat ramp are located nearby, approximately 1/2 mile away, offering convenient water access. The subdivision is golf cart and ATV friendly. The property slopes toward the lake, making it suitable for canoeing or kayaking directly from the land. The zoning is R1.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Pittsville
    County
    Pittsylvania
    State
    Virginia
    Longitude
    -79.4740084
    Latitude
    37.0326481

    Nearby Similar for Sale

    • $59,000

      Waterfront Lot on Leesville Lake

      1.7 acre waterfront lot with community amenities.
      Talon Ridge Ct lot: 171, Pittsville, VA 24139
      View Details
    • $22,900

      Waterfront Land in Gated Community

      2.78 acres in a private, gated waterfront community.
      Talon Ridge Ct, Pittsville, VA 24139
      View Details
    • $25,000

      Buildable Lot Near Leesville Lake

      3.26 acre lot with lake access in Pittsville, VA.
      28 Leesville Lake Dr, Pittsville, VA 24139
      View Details
    • $72,100

      Water Access Lot in Pittsville

      0.97-acre lot in a serene lake community.
      0 Jones Pt Lot 28, Pittsville, VA 24139
      View Details
    • $59,000

      Waterfront Land in Gated Community

      1.3 acre waterfront lot in Eagle Pointe Shores.
      Garrison Ridge lot: 27, Pittsville, VA 24139
      View Details
    • $25,000

      Lake Access Residential Land

      5.5 acre lot with lake access near Gretna and Lynchburg.
      Reservoir View Ct lot: 20, Pittsville, VA 24139
      View Details
    • $25,000

      Land with Lake Access

      5.3 acre lot near lake access in Pittsville, VA.
      Reservoir View Ct lot: 21, Pittsville, VA 24139
      View Details
    • $54,900

      Residential Land with Lake Frontage

      4.90 acres of wooded land with lake frontage.
      Red Birch Dr Lot 34, Pittsville, VA 24139
      View Details
    • $55,000

      Waterfront Land on Leesville Lake

      Waterfront lot with mountain and lake views in gated community.
      Greenberry Dr lot: 119, Pittsville, VA 24139
      View Details
    • $49,900

      Waterfront Lot on Leesville Lake

      Waterfront lot with community amenities on Leesville Lake.
      Lot 2 Sec 2 Falcon Ridge Dr, Pittsville, VA 24139
      View Details
    • $12,000

      Lake Access Lot in Cul-de-Sac

      1.22 acre lake access lot in Eagle Pointe Shores.
      Overlook Ct lot: 85, Pittsville, VA 24139
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - 5.22 acres with 50 feet of waterfront access.
    Where is this waterfront land located?
    The property is located at Reservoir View Dr lot 5 Pittsville, VA.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: 5.22 acres with **50 feet of waterfront access on Leesville Lake.**; Heavily wooded with potential for clearing to create **mountain and lake views.**; Community boat dock/slips and boat ramp access.
    (540) 387-5800
    We can help!
    Listing Contact
    MICHELLE H LANIER
    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!