Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Historical Farmhouse on 35 Acres Title is generated by Realmo AI

    31 ORCHARD RD, Lovingston, VA 22949

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $299,999

    Historical farmhouse on 35 acres with commercial potential.

    Property size:
    2,568 SF
    Lot size:
    35.16 Acres
    Price / SF:
    $116/SF
    Added:
    Mar 18, 2026
    Days on Market:
    60
    Last Refresh:
    Mar 18 at 8:11 am

    Property Features for 31 ORCHARD RD

    General Information

    Standard status
    Active
    Size
    2,568 SF
    Lot size
    35.16 Acres

    We can help!

    Listing Contact
    JOSEPH DEDEKIND

    Listing agent JOSEPH DEDEKIND

    Listing office LPT REALTY, LLC

    Listing date Mar 18, 2026

    Source Corcoran

    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 LPT REALTY, LLC

    HighLights

    • 1.35 Acres Zoned Agricultural/Residential with Commercial Rezoning Potential
    • Potential for up to 8 Parcels
    • Historic 1820's Farmhouse eligible for Historic Rehab Tax Credits
    • Road Frontage on Route 29
    • Recent Updates: Gravel Driveway (2024), 50 AMP Electrical Panel (2024), Roof (2018), Chimney Restoration (2017)
    • Electric and Public Water Available

    Overview

    This historical farmhouse, dating back to the 1820s, was once the summer home of the Loving Family. Situated on 35 acres, the property features a 2,568 square foot farmhouse with five bedrooms and two full bathrooms. Interior details include built-ins, oak floors, and pocket doors. The property is zoned agricultural and residential, with the potential for partial or complete commercial rezoning, offering opportunities for a store, office, or new construction. The property has road frontage on Route 29 and potential for up to eight parcels. Electric and public water are available but currently turned off. The house requires rehabilitation and is not currently habitable. It is eligible for historic rehabilitation tax credits. A walking/hiking trail extends up the mountain. Recent updates include a gravel driveway and a 50 AMP electrical panel, both in 2024, a roof in 2018, and chimney restoration in 2017. Some exterior work has commenced, including the removal of two porches and some of the old siding. The house and property are being sold AS-IS, and entry is at your own risk.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Dental Office Auto Repair Shop Big Box & Wholesale Store Law Firm Hair Salon Nail Salon Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lovingston
    County
    Nelson
    State
    Virginia
    Longitude
    -78.8695259
    Latitude
    37.7664838

    Nearby Similar for Sale

    • $700,000
      4,279 SF

      Turnkey Store, Gas, and Restaurant

      Established convenience store, gas station, and restaurant with apartment.
      10761 THOMAS NELSON HWY, Lovingston, VA 22949
      View Details
    • $180,000

      50 Acres with Mountain Views

      Agricultural land with mountain views, privacy, and convenient location.
      WALNUT GROVE LN, LOVINGSTON, VA 22949
      View Details
    • $119,999

      LOVINGSTON, VA Building Lots

      10.97 acre lot perfect for building or hunting.
      TBD DAVIS CREEK LN, LOVINGSTON, VA 22949
      View Details
    • $161,000

      Recreational Land with Mountain Views

      49.3 acres of recreational land with mountain views.
      TBD RIDGE ST, LOVINGSTON, VA 22949
      View Details
    • $199,000

      Lovingston Mountain Property For Sale

      47.06 acres of A-1 zoned land near Lovingston, Virginia.
      TBD PEACEFUL LN, LOVINGSTON, VA 22949
      View Details

    FAQs

    What type of property is this?
    Farm - Historical farmhouse on 35 acres with commercial potential.
    Where is this farm located?
    The property is located at 31 ORCHARD RD Lovingston, VA.
    What is the asking price?
    The asking price for this property is $299,999.
    What are key features of this property?
    This property features: 1.35 Acres Zoned Agricultural/Residential with Commercial Rezoning Potential; Potential for up to 8 Parcels; Historic 1820's Farmhouse eligible for Historic Rehab Tax Credits
    (703) 594-3800
    We can help!
    Listing Contact
    JOSEPH DEDEKIND
    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
    31 ORCHARD RD, Lovingston, VA 22949
    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!