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

    Summit Dr, Unit 60 Rocky Mount, VA 24151

    View on Map
    Sponsored
    For Sale
    $44,900

    LAND - Rocky Mount, VA

    Lot size:
    0.83 Acres
    Days on Market:
    188
    Last Refresh:
    Mar 21 at 8:06 pm

    Property Features for Summit Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R1
    APN
    201 01-060 00
    Lot size
    0.83 Acres

    We can help!

    Listing Contact
    W. R. '' BILLY '' KINGERY

    Mountain to Lake Realty

    Listing agent W. R. '' BILLY '' KINGERY, JR.

    Listing date Sep 15, 2025

    MLS# 919924

    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.

    Learn more

    Property Insight Report

    Overview

    Residential Lot in Prime Location

    This 0.83-acre residential lot is located in the Landmark Subdivision in Rocky Mount, Virginia. The property is situated in a prime location, offering convenient access to various amenities. It is less than 30 minutes from Roanoke and minutes from schools, restaurants, parks, the YMCA, walking trails, a hospital, and medical facilities. The location also provides convenient access to Smith Mountain Lake and The Harvester Performance Center Farmers Market. Public water and sewer are available, and Shentel internet is also available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Rocky Mount
    County
    Franklin
    State
    Virginia
    Longitude
    -79.896358
    Latitude
    37.019094

    Nearby Similar for Sale

    • New
      $324,900
      0.57 Acres

      Rocky Mount GB Zoned Property

      Well-maintained Rocky Mount property with detached workshop and garage.
      45 Meadow View Ave, Rocky Mount, VA 24151
      View Details
    • $249,000
      0.56 Acres

      Brick Triplex with Garage

      Three-unit property with detached garages and good rental history.
      1715 Ball Park Rd, Rocky Mount, VA 24151
      View Details
    • $439,900
      0.75 Acres

      Rocky Mount Quadplex Investment Opportunity

      Quadplex in Rocky Mount, VA, ideal for investment portfolio.
      60 Sunrise Rd, Rocky Mount, VA 24151
      View Details
    • $229,900
      0.42 Acres

      Rocky Mount Triplex Opportunity

      Triplex in Rocky Mount, perfect for investors or owner-occupants.
      5306 Franklin St, Rocky Mount, VA 24151
      View Details
    • $239,900
      6.95 Acres

      Rocky Mount Mobile Home Park

      Value-add mobile home park with expansion potential on nearly 7 acres.
      3004 Fork Mountain Rd, Rocky Mount, VA 24151
      View Details
    • $875,000
      1.00 Acre

      Multi-Family Investment Property

      Eight-unit rental property in Rocky Mount, Virginia.
      41 + Sunrise Rd, Rocky Mount, VA 24151
      View Details
    • $1,100,000
      7,513 SF

      Remodeled Motel and Diner Property

      Remodeled 16-unit motel with diner, new HVAC and roof.
      18021-18027 Virgil H Goode Hwy, Rocky Mount, VA 24151
      View Details
    • $350,000
      11,424 SF

      Haywood Building: Prime Retail Opportunity

      Multi-Tenant Retail Building in Rocky Mount, VA
      350 Franklin St, Rocky Mount, VA 24151
      View Details
    • Contact for pricing
      2,853 SF

      Restaurant-Style Building on 0.78 Acres

      2,853 sq. ft. building on 0.78 acres for sale.
      20221 Virgil H Goode Hwy, Rocky Mount, VA 24151
      View Details
    • $3,890,000
      77,550 SF

      Goodwill Center: Rocky Mount, VA

      Versatile Industrial Property: 77,550 SF
      1045 Main St, Rocky Mount, VA 24151
      View Details
    • Contact for pricing
      3,527 SF

      Retail Building in Downtown Rocky Mount

      3,527 SF retail building with ample parking.
      190 Franklin St, Rocky Mount, VA 24151
      View Details
    • Contact for pricing
      77,192 SF

      Industrial Facility on 11.4 Acres

      79,190 SF light industrial facility on 11.4 acres.
      685 Tripple Creek Rd, Rocky Mount, VA 24151
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential lot in a desirable Rocky Mount subdivision.
    Where is this residential land & home lot located?
    The property is located at Summit Dr, Unit 60 Rocky Mount, VA.
    What is the asking price?
    The asking price for this property is $44,900.
    What are key features of this property?
    This property features: - Prime location in Landmark Subdivision, one of the nicest in Rocky Mount.; - Convenient access to schools, restaurants, parks, YMCA, walking trails, hospital, and medical facilities.; - Less than 30 minutes to Roanoke.
    (540) 420-2848
    Request Owner's contact information
    Summit Dr, Unit 60 Rocky Mount, VA 24151
    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.
    Summit Dr, Unit 60
    Rocky Mount, VA 24151
    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
    Summit Dr, Unit 60 Rocky Mount, VA 24151
    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

    We can help!
    Listing Contact
    W. R. '' BILLY '' KINGERY
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!