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

    Wakefield Street Hopewell, VA 23860

    View on Map
    Claim this Listing
    New
    For Sale
    Contact for pricing

    LAND - Hopewell, VA

    Lot size:
    0.18 Acres
    Added:
    Apr 17, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 18 at 3:06 pm

    Property Features for Wakefield Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    075-0105
    Lot size
    0.18 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    LOTS 9-10-11 BLK 5 SUBDIVISION: WASHINGTON HEIGHTS
    Tax Annual Amount
    98

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Matt Smith

    Listing agent Matt Smith License #0225178533

    Listing office Weichert Brockwell & Associate 210 Temple Avenue, Colonial Heights, VA

    Listing date Apr 17, 2026

    MLS# 2609943 Listing URL

    Copyright © 2026 Central Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Hopewell, VA Land Opportunity

    This 0.178-acre lot is located in Washington Heights in Hopewell, Virginia. Zoned R-3, the lot offers options for building, including the possibility of constructing two homes, duplexes, or townhomes, subject to city approval. The lot dimensions are 77' x 100'. Another lot behind this one is also for sale on Wakefield St.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Hopewell
    County
    Hopewell
    State
    Virginia
    Longitude
    -77.29122
    Latitude
    37.28033

    Nearby Similar for Sale

    • $190,000

      Hopewell Land with Development Potential

      0.419-acre parcel zoned for residential and commercial development.
      Courthouse Road, Hopewell, VA 23860
      View Details
    • $8,000

      Hopewell Land Parcel For Sale

      Flat, open parcel ideal for storage, parking, or investment.
      073-0760 Boston Street, Hopewell, VA 23860
      View Details
    • $200,000

      Commercial Lot in Hopewell, VA

      Large commercial lot for sale in Hopewell, Virginia.
      2501 Winston Churchill Drive, Hopewell, VA 23860
      View Details
    • $39,950

      Residential Land in Hopewell, VA

      Residential land zoned R-3, suitable for various housing options.
      2202 Raleigh Street, Hopewell, VA 23860
      View Details
    • $5,000

      Unimproved Vacant Lot in Hopewell

      Unbuildable lot, perfect entry point for land portfolio at low price.
      009-0151 Winston Churchill Drive, Hopewell, VA 23860
      View Details
    • $200,000
      1,279 SF

      Renovated Duplex in Hopewell

      Fully renovated duplex with separately metered utilities and long-term tenant.
      2709 Maple Street, Hopewell, VA 23860
      View Details
    • $8,000

      Vacant Lot in Hopewell, VA

      Unimproved lot for future expansion or portfolio building in Hopewell.
      073-0195 Delaware Avenue, Hopewell, VA 23860
      View Details
    • $25,000

      Hopewell Land For Sale

      Flat, wooded lot in Hopewell, zoned B-2.
      Wall Avenue, Hopewell, VA 23860
      View Details
    • $40,000

      Residential Lot in Hopewell, VA

      Residential lot for sale near City Point Rd, Hopewell, VA.
      214 S 16th Avenue, Hopewell, VA 23860
      View Details
    • $40,000

      Cleared Lot Ready to Build

      Level, cleared lot near Route 10, hospital, and downtown.
      N 5 Avenue, Hopewell, VA 23860
      View Details
    • $65,000

      Hopewell, VA Fenced Land

      Fenced commercial land available for sale in Hopewell, Virginia.
      224 S 15th Avenue, Hopewell, VA 23860
      View Details
    • $145,000

      Hopewell Land Investment Opportunity

      Thirteen undeveloped lots near Hopewell Riverwalk, Beacon Theatre, and waterfront.
      0 E Poythress St, Hopewell, VA 23860
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Land in Hopewell, VA zoned R-3 for building.
    Where is this residential land & home lot located?
    The property is located at Wakefield Street Hopewell, 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: Zoned R‑3, allowing for multiple building options including single‑family homes, duplexes, or townhomes.; Potential to build two homes on the lot.; Lot size is 77' x 100'.
    (804) 366-0200
    We can help!
    Listing Contact
    Matt Smith
    Real Estate License ID: 0225178533
    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!