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

    Lot 3 Red Barn Lane Wirtz, VA 24184

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $49,900

    1.654 acre water access lot in Franklin County.

    Type:Land / Unimproved Lot
    Property size:
    71,874 SF
    Lot size:
    1.65 Acres
    Added:
    Apr 22, 2025
    Days on Market:
    361
    Last Refresh:
    Mar 13 at 2:35 pm

    Property Features for Lot 3 Red Barn Lane

    General Information

    Standard status
    Active
    Size
    71,874 SF
    Lot size
    1.65 Acres
    Property subtype
    Land / Unimproved Lot

    We can help!

    Listing Contact
    P J BELLE

    Listing agent P J BELLE License #0225072732

    Listing office WAINWRIGHT & CO., REALTORS®- LAKE

    Listing date Apr 22, 2025

    Source Compass

    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 WAINWRIGHT & CO., REALTORS®- LAKE

    Overview

    Water Access Lot in Subdivision

    This 1.654 acre water access lot is located in one of Smith Mountain Lake's newest waterfront subdivisions in Franklin County. The lot includes a wooded area. Community amenities include a custom bar, sandy beach, playground, fire pit, bath house, and boat slip. The community features paved roads and underground utilities. Buyer is responsible for installing a well and septic system.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Department Store Kitchen & Bath Showroom HVAC Service Plumbing Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Wirtz
    County
    Franklin
    State
    Virginia
    Longitude
    -79.7572
    Latitude
    37.0923

    Nearby Similar for Sale

    • $65,500

      Land Near Smith Mountain Lake

      3.5 acres near Smith Mountain Lake, shopping, restaurants, healthcare.
      Lovely Valley Rd lot: 2, Wirtz, VA 24184
      View Details
    • $39,000

      Smith Mountain Lake Building Lot

      1.35 acre lot with lake and mountain views.
      Red Barn Ln lot: 45, Wirtz, VA 24184
      View Details
    • $59,900

      Waterfront Land in Wirtz, VA

      3.84-acre homesite with stream, water access, and community dock.
      Red Barn Ln lot: 10, Wirtz, VA 24184
      View Details
    • $259,000

      Waterfront Lot on Smith Mountain

      0.94 acre waterfront lot with 140 ft shoreline.
      CRESTVIEW Rd lot: 94, Wirtz, VA 24184
      View Details
    • $35,000

      Unimproved Lot in Wirtz, VA

      0.63 acre lot near shopping, dining, and outdoor adventures.
      Lot 6 Inlet DR, Wirtz, VA 24184
      View Details
    • $69,900

      Residential Land in Meador View

      1.30-acre lot in established neighborhood with mountain views.
      Nyle Ridge Rd lot: 14, Wirtz, VA 24184
      View Details
    • $44,900

      Water Access Lot in Wirtz

      1.65 acre water access lot in Franklin County.
      Red Barn Ln lot: 3, Wirtz, VA 24184
      View Details
    • $72,900

      Residential Land with Mountain Views

      1.29-acre lot in upscale neighborhood with mountain views.
      Nyle Ridge Rd lot: 22, Wirtz, VA 24184
      View Details
    • $69,900

      Residential Lot with Mountain Views

      1.02-acre lot in Meador View subdivision with mountain views.
      Nyle Ridge Rd lot: 1, Wirtz, VA 24184
      View Details
    • $72,900

      Residential Lot with Mountain Views

      1.29-acre lot in established neighborhood near Smith Mountain Lake.
      22 Nyle Ridge Road, Wirtz, VA 24184
      View Details
    • $69,900

      Residential Lot with Mountain Views

      1.22-acre lot in established neighborhood with mountain views.
      Nyle Ridge Rd lot: 27, Wirtz, VA 24184
      View Details
    • $69,900

      Residential Land with Mountain Views

      1.42-acre lot in established neighborhood with mountain views.
      26 Nyle Ridge Road, Wirtz, VA 24184
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - 1.654 acre water access lot in Franklin County.
    Where is this waterfront land located?
    The property is located at Lot 3 Red Barn Lane Wirtz, VA.
    What is the asking price?
    The asking price for this property is $49,900.
    What are key features of this property?
    This property features: 1.654 acre water access lot in a new waterfront subdivision on Smith Mountain Lake.; Enjoy community docking with custom bar, sandy beach, playground, fire pit, and bath house.; Includes a boat slip.
    (540) 525-0134
    We can help!
    Listing Contact
    P J BELLE
    Real Estate License ID: 0225072732
    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!