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    Secluded Land Near Spearhead Trail Title is generated by Realmo AI

    3630 Combs Ridge Road, Honaker, VA 24260

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    Claim this Listing
    Pending
    $39,900

    LAND - Honaker, VA

    Lot size:
    5.00 Acres
    Added:
    Jan 21, 2026
    Days on Market:
    118
    Last Refresh:
    May 19 at 6:06 pm

    Property Features for 3630 Combs Ridge Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Res
    Standard status
    Pending
    APN
    2hh137015
    Lot size
    5.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    290

    Utilities

    Utilities
    Water Available
    Water source
    Well, Public

    We can help!

    Listing Contact
    Connie Comer
    Connie Comer

    Listing agent Connie Comer License #0225124059

    Listing office Cedar Realty Group 72 W Main St, Lebanon, VA

    Listing date Jan 21, 2026

    MLS# 9990389 Listing URL

    Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 5‑acre tract with over an acre already cleared for development.
    • Located near the Spearhead Trail System for ATV riding and outdoor recreation.
    • Permitted for mobile homes, modular homes, and site‑built homes, offering flexible building options.
    • Public water available and a well already on the property.
    • Secluded setting with abundant wildlife, ideal for peace and relaxation.
    • Older mobile home on the property that could be renovated; flooring and plywood may convey.

    Overview

    This 5-acre tract of land features over an acre already cleared. The property is located near the Spearhead Trail's System, which features over 100 miles for all skills levels, connecting to ATV-friendly towns. Spearhead Trail is part of a larger network including the Ridgeview Trail. The property emphasizes a quiet, picturesque yard surrounded by nature and abundant wildlife. Public water is available, with a well already on the property. An older mobile home sits on the property and could be renovated. Mobile homes, modular homes, and site-built homes are all permitted, providing flexible options for building. The property would make a suitable location for a private cabin or retreat. Use is subject to deed restrictions and zoning. Both ground and aerial photos taken from the property showing views and scenery and may include views of adjacent parcels of land. Square footage is estimated. A survey is recommended for any buyer.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Honaker
    County
    Russell
    State
    Virginia
    Longitude
    -82.0042
    Latitude
    37.0328

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    FAQs

    What type of property is this?
    Land - 5-acre tract near Spearhead Trail with development potential.
    Where is this land located?
    The property is located at 3630 Combs Ridge Road Honaker, VA.
    What is the asking price?
    The asking price for this property is $39,900.
    What are key features of this property?
    This property features: 5‑acre tract with over an acre already cleared for development.; Located near the Spearhead Trail System for ATV riding and outdoor recreation.; Permitted for mobile homes, modular homes, and site‑built homes, offering flexible building options.
    (276) 971-0372
    We can help!
    Listing Contact
    Connie Comer
    Connie Comer
    Real Estate License ID: 0225124059
    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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