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    Developable Farm Tract with Four Homes Title is generated by Realmo AI

    271 GRASS CT, Keswick, VA 22947

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    Claim this Listing
    Pending
    $6,575,000

    LAND - KESWICK, VA

    Lot size:
    123.17 Acres
    Added:
    Mar 16, 2026
    Days on Market:
    81
    Last Refresh:
    Jun 4 at 2:06 am

    Property Features for 271 GRASS CT

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    Lot size
    123.17 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Albemarle: 95-4, 95-5B Fluvanna: 3-A-A5, 3-A-A74, 3-A-6
    Tax Annual Amount
    1067

    Utilities

    Sewer type
    Septic Tank
    Water source
    Well
    Water front features
    Lake
    Water front
    1

    We can help!

    Listing Contact
    ANDREW HARDY

    Listing agent ANDREW HARDY License #0225259161

    Listing office FRANK HARDY SOTHEBY'S INTERNATIONAL REALTY 417 PARK STREET, Charlottesville, VA

    Listing date Mar 16, 2026

    MLS# 674406 Listing URL

    Copyright © 2026 Charlottesville Area 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

    • Approximately 123 acres spanning both Albemarle and Fluvanna Counties in the Keswick area
    • 56 acres in Albemarle and 67 acres in Fluvanna, with many division rights reported
    • Four existing homes on the property generate rental income
    • Waterfront feature: lake, plus a pond on the property
    • Land includes a mix of open pasture and gently rolling terrain with multiple homesites
    • Utilities: well water and septic tank sewer

    Overview

    Lafayette Crossing Farm offers a large agricultural land and residential use opportunity with four existing homes already on site. The property is a mix of open pasture and gently rolling terrain, with multiple potential homesites. Natural features include a stream along part of the Albemarle portion, a pond, and established clearings that add to the land’s versatility.

    The tract spans portions of Albemarle and Fluvanna Counties in the Keswick area, totaling approximately 123 acres. The Fluvanna side includes elevated areas that may support long-range views from future homesites. The offering also notes many division rights, providing flexibility for how the land can be planned and developed.

    For buyers considering a private estate or family compound, the existing homes and varied topography create immediate living options alongside room to develop additional residences. For those planning a more structured project, the combination of division rights, multiple homesites, and on-site water features supports thoughtfully planned, higher-end residential subdivision concepts. The property is positioned for buyers who want a substantial tract in the Keswick area within convenient reach of Charlottesville, Keswick Hall, and the University of Virginia.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Keswick
    County
    Albemarle
    State
    Virginia
    Longitude
    -78.318269
    Latitude
    37.98978

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    FAQs

    What type of property is this?
    Farm - Large farm tract with pasture, rolling terrain, and four existing homes currently generating rental income.
    Where is this farm located?
    The property is located at 271 GRASS CT Keswick, VA.
    What is the asking price?
    The asking price for this property is $6,575,000.
    What are key features of this property?
    This property features: Approximately 123 acres spanning both Albemarle and Fluvanna Counties in the Keswick area; 56 acres in Albemarle and 67 acres in Fluvanna, with many division rights reported; Four existing homes on the property generate rental income
    (213) 458-4464
    We can help!
    Listing Contact
    ANDREW HARDY
    Real Estate License ID: 0225259161
    Learn More
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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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