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

    743 Scott Dr Farmville, VA 23901

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Land suitable for hotel, office, commercial, or multi-family development.

    Lot size:
    54.98 Acres

    Property Features for 743 Scott Dr

    General Information

    Lot size
    54.98 Acres

    We can help!

    Listing Contact
    Ellen Long
    Ellen Long
    Source: Moodyscre

    Listing Agency: Taylor Long Properties Commercial Real Estate Listing Agent: Ellen Long

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

    Learn more

    Overview

    Commercial Land Near Longwood University

    A sub parcel of approximately 10 acres is available. The property is strategically located in the Farmville Highway Commercial Area, offering excellent visibility on Milnwood Road and Scott Drive. It provides easy access to S. Main Street and Route 460. The location is approximately 1 mile from Longwood University, which has around 5,100 students, and about 2.5 miles from the 280-acre Heartland Innovative Technology Park. Hampden-Sydney College, with approximately 1,000 students, is less than 6 miles away. Area retailers include Walmart, Lowe’s, Belk, Tractor Supply, Sheetz, KFC, Arby’s, Taco Bell, and Dollar Tree, among others. This property presents a great opportunity for hotel, office, commercial, or multi-family development.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Gym & Fitness Center Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmville
    County
    Prince Edward
    State
    Virginia
    Longitude
    -78.385839
    Latitude
    37.275702

    Nearby Similar for Sale

    • $975,000
      5,095 SF

      Main Street Retail Investment Property

      Fully leased commercial building on Main Street in Farmville, VA.
      408 S Main St, Farmville, VA 23901
      View Details
    • $325,000
      4,060 SF

      Farmville Office For Sale

      Office property in Farmville, VA with 4,060 square feet.
      816 East Third Ave, Farmville, VA 23901
      View Details
    • $349,900
      5,000 SF

      Farmville Retail or Office Space

      Versatile 5,000 sq ft property suitable for retail or office.
      27 Bayberry Ln, Farmville, VA 23901
      View Details
    • $250,000
      3,034 SF

      Farmville Commercial Space Opportunity

      High-visibility commercial space with parking in Farmville, Virginia.
      221 East 2Nd St, Farmville, VA 23901
      View Details
    • $469,000
      Pending

      Mixed-Use Property in Downtown Farmville

      Commercial/residential property with modern apartment in downtown Farmville.
      215 West 3Rd St, Farmville, VA 23901
      View Details
    • New
      $494,700
      Pending

      Historic Farmville Estate on 75 Acres

      Historic 4-bedroom farmhouse on 75 acres near downtown Farmville.
      525 Raines Tavern Rd, Farmville, VA 23901
      View Details
    • New
      $299,900
      0.14 Acres

      New Construction Farmville Home

      New 3-bedroom, 2-bath home near High Bridge Trail.
      205 Zion Dr, Farmville, VA 23901
      View Details
    • $307,000
      0.14 Acres

      New Construction Farmville Home

      New 3-bedroom, 2-bath home near High Bridge Trail.
      209 Zion Dr, Farmville, VA 23901
      View Details
    • $307,000
      0.14 Acres

      New Construction Farmville Home

      New 3-bedroom, 2-bath home near High Bridge Trail.
      211 Zion Dr, Farmville, VA 23901
      View Details
    • $425,000
      2,300 SF

      Farmville Duplex Leased for Office

      2,300 sq ft duplex in Farmville, currently leased for office.
      4644 Farmville Rd, Farmville, VA 23901
      View Details
    • $299,500
      Pending

      Farmville Colonial Farmhouse with Modern Charm

      New 3-bedroom, 2-bath farmhouse near downtown Farmville.
      201 Zion Dr, Farmville, VA 23901
      View Details
    • $749,500

      Cumberland County Ranch Home

      2022-built ranch on 11+ acres near Farmville.
      2072 Cumberland Rd, Farmville, VA 23901
      View Details

    FAQs

    What type of property is this?
    Land - Land suitable for hotel, office, commercial, or multi-family development.
    Where is this land located?
    The property is located at 743 Scott Dr Farmville, VA.
    What is the asking price?
    The asking price for this property is $1,525,000.
    What are key features of this property?
    This property features: - Strategically located in Farmville Highway Commercial Area with excellent visibility.; - Great opportunity for hotel/office, commercial, or multi-family development.; - Easy access to S. Main Street and Route 460.
    (804) 864-9788 Call to check price and availability
    Request Owner's contact information
    743 Scott Dr Farmville, VA 23901
    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.
    743 Scott Dr
    Farmville, VA 23901
    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
    743 Scott Dr Farmville, VA 23901
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ellen Long
    Ellen Long
    Real Estate License ID: 0225090856
    (804) 864-9788 (804) 539-7793
    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!