Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Smith Mountain Lake Waterfront Land Title is generated by Realmo AI

    Somerset Cove Rd, Union Hall, VA 24176

    View on Map
    Claim this Listing
    New
    For Sale
    $350,000

    LAND - Union Hall, VA

    Lot size:
    2.69 Acres
    Added:
    May 19, 2026
    Days on Market:
    7
    Last Refresh:
    May 25 at 11:06 am

    Property Features for Somerset Cove Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    052/ 00 064/ 03 A/ /
    Lot size
    2.69 Acres

    Taxes and HOA fees

    Tax Annual Amount
    486

    Utilities

    Water front features
    Waterfront
    Water front
    1

    We can help!

    Listing Contact
    EMMA LYNN RINKER

    Listing agent EMMA LYNN RINKER

    Listing office KELLER WILLIAMS REALTY ROANOKE 3060 ELECTRIC RD, Roanoke, VA

    Listing date May 19, 2026

    MLS# 927699 Listing URL

    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.

    HighLights

    • 2. 69 acre main channel waterfront property on Smith Mountain Lake with approximately 600 feet of shoreline.
    • Incredible lake views, perfect for a future home or getaway retreat.
    • Perk test completed and approved for a 4‑bedroom septic system.
    • Beautiful mature Wild Cherry, White Oak, Red Oak, and Beech trees throughout the property.
    • Year‑round creek flows through the property.
    • Located in the Union Hall area of Smith Mountain Lake.

    Overview

    This 2.69-acre main channel waterfront property on Smith Mountain Lake, located in Union Hall, Virginia, offers approximately 600 feet of shoreline and lake views. The property, intended for building a home or getaway retreat, features mature Wild Cherry, White Oak, Red Oak, and Beech trees, along with a year-round creek. A perk test has been completed and approved for a 4-bedroom septic system. The buyer is responsible for installing the septic system, well, and all utility hookups, including water and electricity. The property is currently in land use. Taxes are estimated.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Union Hall
    County
    Franklin
    State
    Virginia
    Longitude
    -79.682624
    Latitude
    37.025571

    Nearby Similar for Sale

    • $849,500

      Waterfront Lot in Kennedy Shores

      Exceptional waterfront lot ready for a dream lake home.
      389 Hyannis, Union Hall, VA 24176
      View Details
    • $408,000

      Waterfront Lot on Smith Mountain

      Serene waterfront lot with private dock and long-water views.
      951 Piney Point Rd, Union Hall, VA 24176
      View Details
    • $109,000

      Cleared Lot in Kennedy Shores

      One-acre lot ready for custom home with lake access.
      Caroline Ct lot: 35, Union Hall, VA 24176
      View Details
    • $195,000

      Waterfront Lot with Lake Views

      Waterfront lot in Contentment Island with community amenities.
      Lot 34 Pine Bay DR, Union Hall, VA 24176
      View Details
    • $750,000

      Waterfront Land with Mountain Views

      Rare waterfront property with dock and mountain views.
      136 Belle Isle Rd, Union Hall, VA 24176
      View Details
    • $97,500

      Smith Mountain Lake Access Lot

      Premier lot with lake access and mountain views.
      Congressional Way lot: 46, Union Hall, VA 24176
      View Details
    • $849,000

      Smith Mountain Lake Waterfront Estate

      Rare 5-acre waterfront parcel on Smith Mountain Lake.
      Hidden Treasures Ln lot: 28, Union Hall, VA 24176
      View Details
    • $899,000

      Waterfront Land on Smith Mountain

      Estate-sized waterfront parcel on Smith Mountain Lake with 8.044 acres.
      Hidden Treasures Ln lot: 29, Union Hall, VA 24176
      View Details
    • $4,499,000

      Smith Mountain Lake Resort Opportunity

      26+ acres with development plans and permits on Smith Mountain Lake.
      750 Penn Hall Rd, Union Hall, VA 24176
      View Details
    • $55,000

      Cul-de-Sac Lot in Lake Community

      Vacant land in upscale lake community with water and mountain views.
      14 Caroline Ct, Union Hall, VA 24176
      View Details
    • $55,000

      Union Hall Cul-de-Sac Lot

      Cul-de-sac lot in upscale lake community with water views.
      12 Caroline Court, Union Hall, VA 24176
      View Details
    • $79,900

      Union Hall Land For Sale

      Off-water lot with community boat ramp and lake access.
      Lakestone Rd lot: 1, Union Hall, VA 24176
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - 2.69 acre waterfront property with 600 feet of shoreline.
    Where is this waterfront land located?
    The property is located at Somerset Cove Rd Union Hall, VA.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: 2. 69 acre main channel waterfront property on Smith Mountain Lake with approximately 600 feet of shoreline.; Incredible lake views, perfect for a future home or getaway retreat.; Perk test completed and approved for a 4‑bedroom septic system.
    (540) 208-6102
    We can help!
    Listing Contact
    EMMA LYNN RINKER
    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
    Somerset Cove Rd, Union Hall, VA 24176
    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!