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    363 Davis Ln New Market, VA 22844

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    For Sale
    $699,000

    Updated single-family home on 16.6 acres in Shenandoah Valley.

    Type:Land or Vacant Lot
    Property size:
    2,362 SF
    Lot size:
    16.60 Acres
    Added:
    Apr 4, 2026
    Days on Market:
    13
    Last Refresh:
    Apr 4 at 8:26 pm

    Property Features for 363 Davis Ln

    General Information

    Standard status
    Active
    Size
    2,362 SF
    Lot size
    16.60 Acres
    Property subtype
    Land or Vacant Lot

    Building Details

    Year Built
    1996

    We can help!

    Listing Contact
    SCOTT DAVID HAMILTON

    Listing agent SCOTT DAVID HAMILTON License #225231576

    Listing office RE/MAX REAL ESTATE CONNECTIONS

    Listing date Apr 4, 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 RE/MAX REAL ESTATE CONNECTIONS

    Overview

    Updated Home with Acreage

    Located in the Shenandoah Valley, this updated single-family home is set on approximately 16.6 acres of open, level pasture. The property includes 3 bedrooms, 3 full bathrooms, and approximately 2,362 square feet of living space, all on a single level. Originally built in 1996, the home was updated in 2025 with fresh interior paint, refinished hardwood floors, an updated bathroom, and new carpeting in the bedrooms. The kitchen features new stainless-steel appliances. Constructed with a brick exterior, the home includes a gas log fireplace, central air conditioning, and forced-air heating. A two-car attached garage and private driveway provide parking. The acreage is suited for agricultural or recreational use and includes a 4-stall horse barn with power and water, fencing, and additional space for gardening, livestock, or small-scale farming. The land is mostly cleared and accessible via a private road. Additional features include a private well and septic system and fiber optic internet availability. There are no HOA restrictions. The barn includes workshop/storage space.
    Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Auto Repair Shop Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    New Market
    County
    Shenandoah
    State
    Virginia
    Longitude
    -78.7227497
    Latitude
    38.6686356

    Nearby Similar for Sale

    • $375,000
      3,512 SF

      Historic Manor House in New Market

      Circa 1860 manor house with flexible commercial space.
      9400 S CONGRESS ST, NEW MARKET, VA 22844
      View Details
    • $275,000

      Mixed-Use Opportunity on Main Street

      Mixed-use property with renovation potential in New Market, Virginia.
      9365 N Congress St, NEW MARKET, VA 22844
      View Details

    FAQs

    What type of property is this?
    Horse & equestrian property - Updated single-family home on 16.6 acres in Shenandoah Valley.
    Where is this horse & equestrian property located?
    The property is located at 363 Davis Ln New Market, VA.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: 16.6 acres of open, level pasture, ideal for agricultural or recreational use.; Updated in 2025 with **new stainless‑steel appliances, fresh paint, refinished hardwood floors, updated bathrooms, and new carpeting.**; **4‑stall horse barn with power and water**, fencing, and workshop/storage space.
    (540) 635-4900
    We can help!
    Listing Contact
    SCOTT DAVID HAMILTON
    Real Estate License ID: 225231576
    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.

    More about this property
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