Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Pad-Ready Site Near Interstate Title is generated by Realmo AI

    3221 Lee Highway Troutville, Troutville, VA 24175

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $650,000

    1.5 acre pad-ready site with easy utility access.

    Type:Land
    Property size:
    1 SF
    Price / SF:
    $650,000/SF
    Added:
    Sep 25, 2025
    Days on Market:
    228
    Last Refresh:
    Apr 6 at 12:52 am

    Property Features for 3221 Lee Highway Troutville

    General Information

    Standard status
    Active
    Size
    1 SF
    Property subtype
    Land

    We can help!

    Listing Contact
    Richard Wellford, CCIM

    Listing agent Richard Wellford, CCIM

    Listing office Poe & Cronk Real Estate Group

    Listing date Sep 25, 2025

    Source Tcnworldwide

    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 Poe & Cronk Real Estate Group

    HighLights

    • High traffic location: 59,000 cars per day at Exit 150.
    • Pad‑ready site for immediate development.
    • No deed restrictions: all uses considered.
    • Easy utility access; sewer on same side of the road.
    • Located off Interstate 81 at Exit 150.
    • Proximity to hotels and Cracker Barrel.

    Overview

    This 1.5 acre pad-ready site is located off Interstate 81 at Exit 150 in Troutville, VA, in front of a Comfort Suites hotel. The property is near three hotels and a Cracker Barrel. Utilities are available to the site, with sewer access on the same side of the road. The location benefits from high traffic counts of 59,000 cars per day at Exit 150. All uses will be considered for this property, which has no deed restrictions. The site is positioned for restaurant, fast food, or convenience store development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Troutville
    County
    Botetourt
    State
    Virginia
    Longitude
    -79.9001
    Latitude
    37.3934

    Nearby Similar for Sale

    • $925,000

      Turn-Key Restaurant & Event Venue

      Restaurant, bar, catering, and event venue in growing area.
      106 Stoney Battery Rd, Troutville, VA 24175
      View Details
    • $69,000

      Troutville Hunting and Recreation Land

      Approximately 10 acres of timbered land perfect for hunting.
      Hogan Hollow Rd lot: 85-91 And 91B, Troutville, VA 24145
      View Details
    • $68,000

      Wooded Land in Troutville, VA

      2.25-acre wooded land with road frontage in Troutville, VA.
      Woodridge Rd, Troutville, VA 24175
      View Details
    • $39,950

      Land in Troutville, Virginia

      Three-acre land parcel in Botetourt County, Virginia.
      LEE HWY, Troutville, VA 24175
      View Details
    • $1,295,000
      5,396 SF

      Former Restaurant on High-Traffic Site

      Former restaurant with redevelopment potential on a high-traffic site.
      2775 Lee Highway | Troutville, VA 24175, VA 24175
      View Details
    • $95,000

      Wooded Acreage Near Troutville

      4.56 acres of wooded land near Daleville Town Center.
      Orange Ln, Troutville, VA 24175
      View Details
    • $450,000
      1 SF

      Pad-Ready Site Near Interstate I-81

      One-acre pad-ready site with easy utility access near I-81.
      3241 Lee Highway | Troutville, VA 24175, VA 24175
      View Details
    • $1,395,000

      Pad Ready Land For Sale

      4.89 acre pad ready land with high visibility.
      3172 Lee Hwy, Troutville, VA 24175
      View Details
    • $1,750,000
      12,000 SF

      Multi-Tenant Business Center For Sale

      12,000 SF multi-tenant professional building with strong rental history.
      192 Summerfield Ct, Troutville, VA
      View Details
    • $130,000

      Residential Building Lot in Troutville

      Residential land for sale in Troutville, Virginia.
      Lots 23 Jackson at Ashley Plan Dr, Troutville, VA 24175
      View Details
    • $45,000

      Residential Land in Troutville, VA

      Building lot available in Troutville, Virginia.
      Dogwood Ln, Troutville, VA 24175
      View Details
    • $125,000

      Residential Building Lot in Troutville

      Residential building lot available in Troutville, Virginia.
      Lots 24 Jackson at Ashley Plan Dr, Troutville, VA 24175
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.5 acre pad-ready site with easy utility access.
    Where is this commercial land located?
    The property is located at 3221 Lee Highway Troutville Troutville, VA.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: High traffic location: 59,000 cars per day at Exit 150.; Pad‑ready site for immediate development.; No deed restrictions: all uses considered.
    (540) 855-3648
    We can help!
    Listing Contact
    Richard Wellford, CCIM
    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

    Thank You for Inquiry
    3221 Lee Highway | Troutville, VA 24175, VA 24175
    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!