Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Lot in Colonial Acres Title is generated by Realmo AI

    108 Carriage Dr lot 61-15, Galax, VA 24333

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    LAND - Galax, VA

    Lot size:
    0.83 Acres
    Added:
    May 15, 2026
    Days on Market:
    20
    Last Refresh:
    Jun 3 at 5:06 pm

    Property Features for 108 Carriage Dr lot 61-15

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R2
    Standard status
    Active
    Lot size
    0.83 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    166

    Utilities

    Utilities
    Electricity Available
    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Additional Structures
    None

    We can help!

    Listing Contact
    Ryan Farmer
    Ryan Farmer

    Listing agent Ryan Farmer

    Listing office Kyle Realty, Inc. 1080 E Stuart Drive, Galax, VA

    Listing date May 15, 2026

    MLS# 110124 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 0.828‑acre lot in Colonial Acres subdivision.
    • Professionally excavated site, ready for construction.
    • Public water and public sewer connections available.
    • Located at the end of a quiet cul‑de‑sac, offering privacy.
    • Desirable, serene neighborhood setting.
    • Electricity Available

    Overview

    This 0.828-acre lot is located in the Colonial Acres subdivision. Situated at the end of a cul-de-sac, the property offers both privacy and community within a quiet neighborhood. The site has been professionally excavated to accommodate a new home. Public water and public sewer connections are available. The property is located in Galax, VA.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel Department Store Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Galax
    County
    Galax
    State
    Virginia
    Longitude
    -80.9454557
    Latitude
    36.6595048

    Nearby Similar for Sale

    • $199,000

      Prime Commercial Land in Galax

      Nearly 5-acre commercial land with high-visibility frontage on US Highway.
      Carrollton Pike, Galax, VA 24333
      View Details
    • $144,900
      576 SF

      Commercial Building in Convenient Location

      Commercial building with two units, heat pumps, and ample parking.
      1139/114 S Main St., Galax, VA 24333
      View Details
    • $350,000
      7,060 SF

      Downtown Galax Commercial Investment Opportunity

      Prime commercial property in historic downtown Galax with income potential.
      105 E Grayson St, Galax, VA 24333
      View Details
    • $450,000

      Commercial Land with Auto Shop

      Versatile commercial property with equipment for automotive or industrial uses.
      310 W Oldtown St lot: 12&Part Of 11, Galax, VA 24333
      View Details
    • $170,000

      Commercial Land in High-Traffic Plaza

      Commercial land with utilities in a busy shopping plaza.
      19-32 E Stuart Drive, Galax, VA 24333
      View Details
    • $444,900
      2,134 SF

      Updated Mixed-Use Income Property

      Mixed-use property with retail and residential income potential.
      948 E Stuart Drive, Galax, VA 24333
      View Details
    • $109,900

      21.7 Acres in Galax, VA

      21.7 acres with road frontage, utilities, and income potential.
      S Main St. lot: 1, Galax, VA 24333
      View Details
    • $144,900

      Land Near Chestnut Creek Meadows

      2.5-acre lot on Chestnut Creek, ready for your dream home.
      Gambetta Road lot: 7, Galax, VA 24333
      View Details
    • $124,500

      Secluded Mountain Land with Camper

      5 acres in Blue Ridge Mountains with camper and utilities.
      1669 Grinders Mill Road, Galax, VA 24333
      View Details
    • $399,000
      2,330 SF

      Victorian Home Zoned Commercial

      1911 Victorian home in premium location for retail or residential.
      201 W Webster, Galax, VA 24333
      View Details
    • $444,900

      Updated Mixed-Use Income Property

      Mixed-use property with retail and residential income potential.
      948 E Stuart Drive, Galax, VA 24333
      View Details
    • $450,000
      2,134 SF

      Updated Mixed-Use Income Property

      Mixed-use property with retail and residential income potential.
      948 E Stuart Drive, Galax, VA 24333
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 0.828-acre lot ready for your dream home.
    Where is this residential land & home lot located?
    The property is located at 108 Carriage Dr lot 61-15 Galax, 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 0.828‑acre lot in Colonial Acres subdivision.; Professionally excavated site, ready for construction.; Public water and public sewer connections available.
    (276) 293-2088
    We can help!
    Listing Contact
    Ryan Farmer
    Ryan Farmer
    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
    108 Carriage Dr lot: 61-15, Galax, VA 24333
    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!