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    Manufactured Housing Community Title is generated by Realmo AI

    1841 Grit Road, Hurt, VA 24563

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    Stabilized manufactured housing park with 26 pads and a mix of tenant-owned and park-owned homes on low-density acreage.

    Type:Mobile Home Park
    Lot size:
    13.08 Acres
    Added:
    Jun 2, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 6 at 3:19 am

    Property Features for 1841 Grit Road

    General Information

    Standard status
    Active
    Lot size
    13.08 Acres
    Property subtype
    Mobile Home Park

    We can help!

    Listing Contact
    Briggs Cooper
    Briggs Cooper

    Listing agent Briggs Cooper License #0225270854

    Listing office Cushman & Wakefield Thalhimer - Roanoke, Virginia

    Listing date Jun 2, 2026

    Source Crexi

    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 Cushman & Wakefield Thalhimer - Roanoke, Virginia

    HighLights

    • Stabilized 26‑pad manufactured housing community at 1841 Grit Road in Hurt, VA.
    • Mix of 13 tenant‑owned homes and 13 park‑owned homes across the 26 total pads.
    • Approx. 13.08 acres total site area, with approx. 6.84 acres currently in use.
    • Low‑density layout with additional acreage on site.
    • Residents maintain homes and lots in good condition, supporting consistent, well‑kept operations.

    Overview

    Crest Woods Mobile Home Park is a stabilized, low-density manufactured housing community offering 26 total pads for manufactured homes. The property includes 13 tenant-owned homes and 13 park-owned homes, supported by a community layout designed around individual pad settings. Approximately 13.08 acres comprise the site, with about 6.84 acres currently in use, leaving additional acreage available within the park boundaries. The community is presented as well-maintained, with residents maintaining their homes and lots in good condition, contributing to a clean, orderly environment.

    The park is located at 1841 Grit Road in Hurt, Virginia, just minutes from Altavista. The property benefits from its proximity to Altavista’s established employment base and sits within the broader Southside Virginia economic growth corridor referenced in the marketing materials.

    For investors or operators seeking an attainable housing strategy, Crest Woods offers a straightforward pad-based community with a proven mix of tenant ownership and park ownership. The combination of resident upkeep and park-operated homes helps support consistent day-to-day appearance and operations, while the unused acreage provides room for future on-site planning consistent with the property’s existing site footprint.
    Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

    Law Firm Auto Repair Shop Daycare Center HVAC Service Electronics & Wireless Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Hurt
    County
    Pittsylvania
    State
    Virginia
    Longitude
    -79.2682878
    Latitude
    37.0915166

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    • $719,000

      Hurt, VA Multifamily Investment

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    FAQs

    What type of property is this?
    Mobile home & RV park - Stabilized manufactured housing park with 26 pads and a mix of tenant-owned and park-owned homes on low-density acreage.
    Where is this mobile home & rv park located?
    The property is located at 1841 Grit Road Hurt, VA.
    What is the asking price?
    The asking price for this property is $1,350,000.
    What are key features of this property?
    This property features: Stabilized 26‑pad manufactured housing community at 1841 Grit Road in Hurt, VA.; Mix of 13 tenant‑owned homes and 13 park‑owned homes across the 26 total pads.; Approx. 13.08 acres total site area, with approx. 6.84 acres currently in use.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Briggs Cooper
    Briggs Cooper
    Real Estate License ID: 0225270854
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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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