Lakefront Manor Estate For
750 Penn Hall Rd, Union Hall, VA 24176
Entitled lakefront estate with commercial potential on 26+ acres.
Type:Hospitality, Land, Special Purpose
Property size:
8,218 SFLot size:
26.00 AcresPrice / SF:
$608/SF- Added:
- Mar 7, 2026
- Days on Market:
- 72
- Last Refresh:
- Mar 16 at 3:19 pm
Property Features for 750 Penn Hall Rd
General Information
- Standard status
- Active
- Size
- 8,218 SF
- Lot size
- 26.00 Acres
- Property subtype
- Hospitality, Land, Special Purpose
Building Details
- Year Built
- 1940
Listing agent Craig Wilson License #0225250882
Listing office RE/MAX Lakefront Realty Inc.
Listing date Mar 7, 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 RE/MAX Lakefront Realty Inc.
HighLights
- Fully entitled for commercial resort use, including events, retreats, and destination programming.
- Complete infrastructure and recent (2024) top‑to‑bottom renovation, including commercial kitchen, new septic system, commercial well, and extensive landscaping.
- Extensive private lake frontage (650+ feet) on Smith Mountain Lake with approved 3,000+ sq ft dock (partially installed) and rip‑rapped shoreline.
- Significant revenue potential supported by pro‑formas and third‑party valuation analysis indicating a stabilized value range of $45MM–$50MM.
- Completely private 26+ acre estate setting with no neighboring density pressure.
- Positioned as a low‑volume, high‑margin experiential asset with multiple revenue streams including events, retreats, and estate buyouts.
Overview
Milan Manor is an experiential real estate asset situated on 26+ acres of private lakefront land at Smith Mountain Lake in Franklin County, Virginia. The property has over 650 feet of pristine rip-rapped shoreline frontage along Smith Mountain Lake. The setting is a completely private estate environment with mountain and water views. The property is a historic manor estate repositioned for experiential, event, and retreat-based commercial use. It was fully renovated in 2024 and is entitled and operational. The property combines historic character with modern commercial functionality, enabling premium experiential use while preserving lakefront privacy and shoreline control. A Special Use Permit (SUP) enables expanded commercial use as a resort, including events, retreats, and destination-based programming. Key improvements completed in 2024 include a commercial catering kitchen with commercial-grade stove and multiple refrigerators, a speakeasy-style bar, a billiards room, a dedicated game room, and large guest suites with dedicated sitting areas. There is also a walk-around screened porch, extensive landscaping, and outdoor amenities. Supporting infrastructure includes a commercial well (50+ gallons per minute) installed in 2024, a new septic system installed in 2024, a dedicated parking lot, two vehicle turnarounds, and historic-style light poles. Waterfront enhancements include rip-rapped shoreline and an approved AEP dock totaling 3,000+ square feet, partially installed. On-site amenities include a pickleball court and sports shooting range, fire pits, and patios. Supported commercial uses include curated private events and destination weddings, corporate, executive, wellness, and creative retreats, estate-style buyouts and limited lodging tied to programming.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Milan at Wateredge
Hotel & Motel
Pennhall
Training Center
Location Insight
- Map
- Local Demand
- City
- Union Hall
- County
- Franklin
- State
- Virginia
- Longitude
- -79.6593489
- Latitude
- 37.0078389
Nearby Similar for Sale
FAQs
What type of property is this?
Resort - Entitled lakefront estate with commercial potential on 26+ acres.
Where is this resort located?
The property is located at 750 Penn Hall Rd Union Hall, VA.
What is the asking price?
The asking price for this property is $4,999,000.
What are key features of this property?
This property features: Fully entitled for commercial resort use, including events, retreats, and destination programming.; Complete infrastructure and recent (2024) top‑to‑bottom renovation, including commercial kitchen, new septic system, commercial well, and extensive landscaping.; **Extensive private lake frontage (650+ feet) on Smith Mountain Lake with approved 3,000+ sq ft dock (partially installed) and rip‑rapped shoreline.**
