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    Redevelopment Hospitality Property Title is generated by Realmo AI

    182 Woodberry Road, Meadows of Dan, VA 24120

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    Claim this Listing
    Pending
    $409,900

    COMMERCIAL - Meadows Of Dan, VA

    Lot size:
    4.14 Acres
    Added:
    Jan 16, 2026
    Days on Market:
    139
    Last Refresh:
    Jun 4 at 11:06 pm

    Property Features for 182 Woodberry Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    Lot size
    4.14 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    +/- 4.14 ac and improvements; Tax Map #78-57; LAUREL FORK PC2-35B; Instrument # 200001272
    Tax Annual Amount
    2139

    Utilities

    Heating system
    Heat Pump (Heating), Ductless (Heating)
    Water source
    Well

    Building Details

    Year built
    1950

    We can help!

    Listing Contact
    Matthew Gallimore

    Listing agent Matthew Gallimore License #225062681

    Listing office UC/Blue Ridge Land & Auction PO Box 234 102 South Locust St., Floyd, VA

    Listing date Jan 16, 2026

    MLS# 426206

    Copyright © 2026 New River Valley Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • +/-4.1418‑acre redevelopment site formerly known as the Woodberry Inn, off the Blue Ridge Parkway (Milepost 174) near Mabry Mill and Chateau Morrisette
    • Includes a scenic pond and commercial‑grade well/septic water service
    • Bldg 1: 4,302 SF former restaurant—2,602 SF main level with kitchen/walk‑in cooler and 2 baths; 1,700 SF lower level includes 1 bath; stripped to framing/subfloor
    • Bldg 2: 1,200 SF remodeled 4‑unit lodge with metal roof, mini‑splits, tile/concrete floors, and private decks
    • Bldg 3: 4,100 SF 12‑unit structure—gutted, plumbed for baths, with rough‑in electric and 2x4 framing, ready for completion

    Overview

    The property consists of approximately 4.1418 acres formerly known as the Woodberry Inn, with a scenic pond and a commercial-grade well/septic. It includes three separate buildings with distinct layouts and improvement levels, offering flexibility for hospitality redevelopment or mixed-use conversion. Bldg 1 is a 4,302 SF former restaurant, with the main level at 2,602 SF featuring a kitchen with walk-in cooler and two baths, and a lower level at 1,700 SF including one bath. This building has been stripped to framing/subfloor with rough-in electric and plumbing.

    Bldg 2 is a recently remodeled 1,200 SF, four-unit lodge with a metal roof, mini-splits, tile/concrete floors, and private decks, described as turnkey and ready for guests. Bldg 3 is a 4,100 SF 12-unit structure that has been gutted and is ready for completion, with plumbing laid out for baths, rough-in electric, and 2x4 framing. The site is located off the Blue Ridge Parkway (Milepost 174) near Mabry Mill and Chateau Morrisette.

    For buyers and operators, the combination of a partially completed restaurant space, a turnkey lodge, and a plumbed-but-unfinished multi-unit building can support phased redevelopment. Auction terms indicate the list price is a starting bid, and the auction ends February 24 at 4 PM.
    Property Profile Location Intelligence

    Current Use by Public Records

    Woodberry Inn Hotel & Motel Lodge at Rock Castle ... Hotel & Motel

    Suggested Use

    Hotel & Motel Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Meadows of Dan
    County
    Patrick
    State
    Virginia
    Longitude
    -80.4018099
    Latitude
    36.7739371

    FAQs

    What type of property is this?
    Hotel - Redevelopment site with three buildings, including a former restaurant and guest lodge units, near the Blue Ridge Parkway.
    Where is this hotel located?
    The property is located at 182 Woodberry Road Meadows of Dan, VA.
    What is the asking price?
    The asking price for this property is $409,900.
    What are key features of this property?
    This property features: +/-4.1418‑acre redevelopment site formerly known as the Woodberry Inn, off the Blue Ridge Parkway (Milepost 174) near Mabry Mill and Chateau Morrisette; Includes a scenic pond and commercial‑grade well/septic water service; Bldg 1: 4,302 SF former restaurant—2,602 SF main level with kitchen/walk‑in cooler and 2 baths; 1,700 SF lower level includes 1 bath; stripped to framing/subfloor
    (540) 239-2585
    We can help!
    Listing Contact
    Matthew Gallimore
    Real Estate License ID: 225062681
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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.

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