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    Equestrian Estate with Mountain Views Title is generated by Realmo AI

    1115 Chapel Rd, Middletown, VA 22645

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    Claim this Listing
    For Sale
    $2,999,000

    58+/- acre estate perfect for equestrian or hobby farm.

    Type:Land or Vacant Lot
    Property size:
    2,969 SF
    Lot size:
    58.85 Acres
    Price / SF:
    $1,010/SF
    Added:
    Nov 20, 2025
    Days on Market:
    196
    Last Refresh:
    May 10 at 10:02 pm

    Property Features for 1115 Chapel Rd

    General Information

    Standard status
    Active
    Size
    2,969 SF
    Lot size
    58.85 Acres
    Property subtype
    Land or Vacant Lot

    Building Details

    Year Built
    1995

    We can help!

    Listing Contact
    LISA M BLANSETT
    LISA M BLANSETT

    Listing agent LISA M BLANSETT

    Listing office MOUNTAINS EDGE REALTY LLC

    Listing date Nov 20, 2025

    Source Corcoran

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of MOUNTAINS EDGE REALTY LLC

    HighLights

    • 58+/- acres of scenic, cross‑fenced pastureland with panoramic mountain views
    • Horse‑ready barn with two stalls and automatic waterers in each pasture
    • Home with dual‑level balconies
    • Possible subdivide opportunity
    • Minutes from the interstate
    • Classic English boxwood garden

    Overview

    This 58+/- acre property features scenic, cross-fenced pastureland with mountain views. Suited for equestrian enthusiasts, hobby farmers, or those seeking open spaces with modern amenities, the estate includes automatic waterers in each pasture for low-maintenance convenience. A horse-ready barn with two stalls is present on the property. The residence features dual-level balconies. The property is cross-fenced for livestock or rotational grazing and offers potential for subdivision. A classic English boxwood garden enhances the landscape. A signature magnolia tree adds Southern charm. The property is located minutes from the Interstate.
    Property Profile Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Food Market Cafe & Coffee Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Middletown
    County
    Warren
    State
    Virginia
    Longitude
    -78.2958
    Latitude
    39.0592

    Nearby Similar for Sale

    • $1,300,000

      Historic Wayside Inn For Sale

      Historic inn with 22 suites, bars, and expansion potential.
      7783 MAIN STREET, MIDDLETOWN, VA 22645
      View Details
    • $340,000
      3,873 SF

      Motel with Apartments on 2.58 Acres

      8-room motel with two apartments on 2.58 acres.
      6825 Valley Pike, MIDDLETOWN, VA 22645
      View Details

    FAQs

    What type of property is this?
    Horse & equestrian property - 58+/- acre estate perfect for equestrian or hobby farm.
    Where is this horse & equestrian property located?
    The property is located at 1115 Chapel Rd Middletown, VA.
    What is the asking price?
    The asking price for this property is $2,999,000.
    What are key features of this property?
    This property features: 58+/- acres of scenic, cross‑fenced pastureland with panoramic mountain views; Horse‑ready barn with two stalls and automatic waterers in each pasture; Home with dual‑level balconies
    (540) 683-1891
    We can help!
    Listing Contact
    LISA M BLANSETT
    LISA M BLANSETT
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    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
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    1115 Chapel Rd, MIDDLETOWN, VA 22645
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