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    8021 Olympic Way Culpeper, VA 22701

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    For Sale
    $1,150,000

    Equine-oriented property with barns, arenas, paddocks, and living quarters.

    Type:Farm / Fee Simple
    Property size:
    1,232 SF
    Lot size:
    14.00 Acres
    Added:
    Aug 3, 2025
    Days on Market:
    257
    Last Refresh:
    Mar 13 at 6:16 pm

    Property Features for 8021 Olympic Way

    General Information

    Standard status
    Active
    Size
    1,232 SF
    Lot size
    14.00 Acres
    Property subtype
    Farm / Fee Simple

    Building Details

    Year Built
    1989

    We can help!

    Listing Contact
    Philip L Thornton IV

    Listing agent Philip L Thornton IV License #225098041

    Listing office RE/MAX Crossroads

    Listing date Aug 3, 2025

    Source Compass

    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 Crossroads

    Overview

    Turnkey Equine Property on 14+ Acres

    This equine-oriented property, ideal for an active boarding and/or training facility, spans over 14 acres. A cherry tree-lined driveway leads to the barns and indoor/outdoor arenas. The stable area includes 14 fully matted stalls across two barns, with 8 in the main barn and 6 in the addition. It features two wash stalls with hot/cold water, two large tack/feed rooms (one heated), a hay loft, and a half bath, plus a 1-2 bed/1 bath apartment. The indoor arena provides 160x80 sq/ft of lit space and a 24x36 annex with two offices/bedrooms, one full bath, a large common/lounge area, utility/laundry, a kitchenette, and oversized plexiglass windows. The indoor area connects to a 150x150 outdoor arena with a covered gazebo. There are 6 separate fenced paddocks, several with run-in sheds and water access. The driveway system allows for ample parking. Both the stables and arena have 50-Amp RV hookups. The property is near trail systems, 15 minutes from Culpeper, and 20 minutes from HITS, with proximity to hunt clubs. An adjacent 10-acre estate lot is available for sale. The property is located in Culpeper County and is not within city limits. The school district is Culpeper County Public Schools.
    Location Intelligence

    Current Use by Public Records

    Misty Run Horseback Riding Service

    Suggested Use

    Building Supply Garden Center Electrical Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Culpeper
    County
    Culpeper
    State
    Virginia
    Longitude
    -78.098782
    Latitude
    38.4872218

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    FAQs

    What type of property is this?
    Horse & equestrian property - Equine-oriented property with barns, arenas, paddocks, and living quarters.
    Where is this horse & equestrian property located?
    The property is located at 8021 Olympic Way Culpeper, VA.
    What is the asking price?
    The asking price for this property is $1,150,000.
    What are key features of this property?
    This property features: Turnkey equine‑oriented property ideal for boarding and/or training facility on 14+ acres.; Equipped with **14 fully matted stalls, two wash stalls with hot/cold water, two tack/feed rooms (one heated), hay loft, and a half bath**.; Features a **160x80 sq/ft indoor arena with adjoining annex containing offices/bedrooms, full bath, lounge area, kitchenette, and viewing windows.**
    (540) 825-1800
    We can help!
    Listing Contact
    Philip L Thornton IV
    Real Estate License ID: 225098041
    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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