Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Smith Mountain Lake Waterfront Lots Title is generated by Realmo AI

    Lot 15 Admirals Way, Glade Hill, VA 24092

    View on Map
    Claim this Listing
    For Sale
    $149,000

    Two adjacent lots totaling 3.19 acres with deeded boat slip.

    Type:Land / Unimproved Lot
    Property size:
    138,956 SF
    Lot size:
    3.19 Acres
    Price / SF:
    $1.07/SF
    Added:
    Nov 10, 2025
    Days on Market:
    204
    Last Refresh:
    Mar 13 at 2:18 pm

    Property Features for Lot 15 Admirals Way

    General Information

    Standard status
    Active
    Size
    138,956 SF
    Lot size
    3.19 Acres
    Property subtype
    Land / Unimproved Lot

    We can help!

    Listing Contact
    Teresa Grant
    Teresa Grant

    Listing agent Teresa Grant License #0225087218

    Listing office Keller Williams

    Listing date Nov 10, 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 Keller Williams

    HighLights

    • 3.19 acres of land comprised of two adjacent lots in Admirals Landing.
    • Deeded, private boat slip included with lakefront lot (Lot 15).
    • Prime building location on a quiet cul‑de‑sac (Lot 56).
    • Seasonal water views.
    • Access to community amenities: boat ramp, day‑use docks, and secured boat/RV storage.
    • Underground utilities.

    Overview

    Two adjacent lots, totaling 3.19 acres, are available in the Admirals Landing lakefront community. One lot, comprising 1.01 acres, touches the water and includes a private, deeded boat slip. The second lot, spanning 2.18 acres, adjoins the first and is situated on a quiet cul-de-sac. Seasonal water views are available. Community amenities include a boat ramp, day-use docks, and secured boat and RV storage. Underground utilities are in place. The property is located 15 minutes from Westlake.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Auto Repair Shop Auto Parts Store Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Glade Hill
    County
    Franklin
    State
    Virginia
    Longitude
    -79.733276
    Latitude
    37.053104

    Nearby Similar for Sale

    • $149,000

      Smith Mountain Lake Land

      Two adjacent lots totaling 3.19 acres near Smith Mountain Lake.
      0-Lot 15 Admirals Way, Glade Hill, VA 24092
      View Details
    • $159,500

      Glade Hill Land with Creek

      13+ acres with pasture, creek, and metal garage.
      Tract A Brooks Mill Rd, Glade Hill, VA 24092
      View Details
    • $200,000

      Smith Mountain Lake Waterfront Acreage

      5.12 acre point lot with over 600ft of shoreline.
      Lot 59 Lakepointe CT, Glade Hill, VA 24092
      View Details
    • $34,950

      Lake Access Lot in Glade Hill

      1.897-acre lot with lake access and roughed-in driveway.
      Lake View Pt lot: 49, Glade Hill, VA 24092
      View Details
    • $59,500

      Glade Hill Land For Sale

      5.13 acre land parcel in Glade Hill, Virginia.
      Riverfront Dr lot: 17, Glade Hill, VA 24092
      View Details
    • $59,500
      223,462 SF

      Glade Hill Land For Sale

      Land available in Glade Hill, purchaser to install well/septic.
      Lot 17 Riverfront Drive, Glade Hill, VA 24092
      View Details
    • Contact for pricing

      45 Acre Agricultural Tract

      45 acre agricultural tract with development potential near Smith Mountain Lake.
      548 Powells Store Rd, Glade Hill, VA 24092
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Two adjacent lots totaling 3.19 acres with deeded boat slip.
    Where is this waterfront land located?
    The property is located at Lot 15 Admirals Way Glade Hill, VA.
    What is the asking price?
    The asking price for this property is $149,000.
    What are key features of this property?
    This property features: 3.19 acres of land comprised of two adjacent lots in Admirals Landing.; Deeded, private boat slip included with lakefront lot (Lot 15).; Prime building location on a quiet cul‑de‑sac (Lot 56).
    (434) 546-3202
    We can help!
    Listing Contact
    Teresa Grant
    Teresa Grant
    Real Estate License ID: 0225087218
    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
    Lot 15 Admirals Way, Glade Hill, VA 24092
    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!