Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Lots with Mountain Views Title is generated by Realmo AI

    Summit Drive lot 37, Lebanon, VA 24266

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    LAND - Lebanon, VA

    Lot size:
    0.24 Acres
    Added:
    Oct 18, 2025
    Days on Market:
    230
    Last Refresh:
    Jun 4 at 8:06 am

    Property Features for Summit Drive lot 37

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R2
    Vegetation
    Cleared
    Standard status
    Active
    Lot size
    0.24 Acres

    Taxes and HOA fees

    Tax Year
    2022
    Tax Annual Amount
    130

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Rd Snead

    Listing agent Rd Snead License #0225024863

    Listing office eXp Realty 800 Corporate Dr Ste 301, Richmond, VA

    Listing date Oct 18, 2025

    MLS# 95734 Listing URL

    Copyright © 2026 Southwest Virginia 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

    • Ready‑to‑build lots with all utilities in place.
    • Located on the edge of the quiet Town of Lebanon, within walking distance of shopping, banking, and dining.
    • Great views of Clinch & Bear Town Mountains.
    • Paved road access.
    • Easy commute to Abingdon, Bristol, SW VA Community College, Richlands, etc.
    • Variety of lot options available, including private/secluded lots and sloping lots suitable for walk‑out basements.

    Overview

    These fully-improved building lots are situated on a gentle hill on the edge of Lebanon, Virginia, offering views of Clinch & Bear Town Mountains. The lots are ready for construction with paved roads, city water, city sewer, electric, and telephone connections in place. The available lots vary, with options for privacy and seclusion, sloping lots suitable for walk-out basements, and flat to gently sloping lots. Located within walking distance of shopping, banking, and dining, the lots also provide an easy commute to Abingdon, Bristol, Southwest Virginia Community College, and Richlands. The lot size is approximately 0.24 acres. These lots are part of a development of about 60 lots, allowing prospective buyers to select the perfect location for their dream home.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Lebanon
    County
    Russell
    State
    Virginia
    Longitude
    -82.04639007
    Latitude
    36.91125595

    Nearby Similar for Sale

    • $1,200,000
      40,000 SF

      Commercial Property with Business Opportunity

      Turnkey commercial property on 5.12 acres with established business.
      38 Wxlr Drive, Lebanon, VA 24266
      View Details
    • $299,000

      Prime Commercial Land in Lebanon

      2.04-acre commercial lot with high visibility and development potential.
      Main Street lot: A, Lebanon, VA 24266
      View Details
    • $269,000

      Prime Commercial Land in Lebanon

      2.13-acre commercial lot with high visibility and versatile potential.
      Main Street lot: B, Lebanon, VA 24266
      View Details
    • $229,900
      1,692 SF

      Medical Office Building

      Income-producing medical or office property with a new shingle roof and recently remodeled interior.
      39 S Flannagan Avenue, Lebanon, VA 24266
      View Details
    • $125,000

      Lebanon VA Land Opportunity

      9.7 acres of land, ideal for building or investment.
      N Angle Ave lot: 104Rio541, Lebanon, VA 24266
      View Details
    • $146,900

      81 Acres of Fenced Land

      Vacant 81-acre parcel with timber, springs, and pond.
      Clinch Mountain Road, Lebanon, VA 24266
      View Details
    • $96,500

      3.79 Acres on Big Cedar Creek

      Residential land with creek access in Lebanon, Virginia.
      Big Cedar Creek Road lot: 2-5, Lebanon, VA 24266
      View Details
    • $4,500,000
      54,000 SF

      Former Call Center on 14+ Acres

      54,683 SF building suitable for retail, office, or industrial.
      978 Regional Park Road, Lebanon, VA 24266
      View Details
    • $25,000

      Scenic Land with Mountain Views

      1.1 acres of land near Lebanon, VA, perfect for building.
      Summit Avenue, Lebanon, VA 24266
      View Details
    • $360,000

      53.38 Acres with Mountain Views

      Large acreage in Lebanon, VA with subdivision potential.
      Moccasin Valley Road, Lebanon, VA 24266
      View Details
    • $38,000

      Lebanon, VA Building Lot

      Almost half acre building lot in Lebanon, Virginia.
      Jones Drive lot: 7-11, Lebanon, VA 24266
      View Details
    • $40,000

      Commercial Land in Lebanon, VA

      Cleared commercial land ready for development in Lebanon, Virginia.
      470 E Main St, Lebanon, VA 24266
      View Details

    FAQs

    What type of property is this?
    Land - Ready-to-build lots with utilities and mountain views.
    Where is this land located?
    The property is located at Summit Drive lot 37 Lebanon, 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: Ready‑to‑build lots with all utilities in place.; Located on the edge of the quiet Town of Lebanon, within walking distance of shopping, banking, and dining.; Great views of Clinch & Bear Town Mountains.
    (276) 608-6844
    We can help!
    Listing Contact
    Rd Snead
    Real Estate License ID: 0225024863
    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
    Summit Drive lot: 37, Lebanon, VA 24266
    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!