Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Petersburg Land with Development Potential Title is generated by Realmo AI

    900 Fort Lee Road, Petersburg, VA 23803

    View on Map
    Claim this Listing
    Picture of Residential land & home lots at 900 Fort Lee Road, Petersburg, VA
    For Sale
    $69,900

    LAND - Petersburg, VA

    Lot size:
    3.00 Acres
    Added:
    Dec 3, 2025
    Days on Market:
    168
    Last Refresh:
    May 20 at 7:06 pm

    Property Features for 900 Fort Lee Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    050-05-0001
    Lot size
    3.00 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    Lot A Forestview Acreage
    Tax Annual Amount
    603

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Holly Pond

    Listing agent Holly Pond License #0225052789

    Listing office Base Camp Realty of VA Inc 21801 Lake Chesdin Pky, Chesterfield, VA

    Listing date Dec 3, 2025

    MLS# 2532625 Listing URL

    Copyright © 2026 Central 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

    • 3 Acres of Land in Petersburg
    • Potential for subdividing into a small neighborhood (up to 15 homes, per planning and zoning)
    • Convenient access to I‑85 South and I‑95 South
    • Close proximity to the Tri‑Cities area
    • Near Fort Gregg‑Adams
    • Public water and sewer available

    Overview

    This property features three acres of land in Petersburg, Virginia. The location offers convenient access to I-85 South and I-95 South, as well as proximity to the Tri-Cities area and Fort Gregg-Adams. The property presents potential for development, with the possibility of subdividing for a small neighborhood. According to Petersburg Planning and Zoning, the site could accommodate up to 15 homes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Building Supply Auto Repair Shop Hair Salon Department Store Food Market Storage Facility HVAC Service Grocery & Convenience Store Grocery & Convenience Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Petersburg
    County
    Petersburg
    State
    Virginia
    Longitude
    -77.436719
    Latitude
    37.202595

    Nearby Similar for Sale

    • $279,950
      3,328 SF

      Historic Duplex in Old Towne

      Duplex in Old Towne Petersburg, perfect for short-term rental.
      235-237 Grove Avenue, Petersburg, VA 23803
      View Details
    • $219,950
      1,296 SF

      Petersburg Duplex with Rental Income

      Duplex in Petersburg, VA, with rental income potential.
      749 Mt Airy Street, Petersburg, VA 23803
      View Details
    • $125,000
      3,808 SF

      Petersburg Quadplex Investment Opportunity

      3,808 SF quadplex near Virginia State University.
      1134 W Washington Street, Petersburg, VA 23803
      View Details
    • $120,000
      1,568 SF

      Petersburg Duplex Investment Opportunity

      Duplex in Petersburg, ready for renovation or redevelopment.
      606-608 Cameron Street, Petersburg, VA 23803
      View Details
    • $250,000
      1,712 SF

      Petersburg Duplex: Investment Opportunity

      Duplex in historic Petersburg with income potential near shopping and casino.
      215 Saint Andrew Street, Petersburg, VA 23803
      View Details
    • $80,000

      Petersburg Vacant Land For Sale

      0.38-acre vacant lot zoned R3 near Old Towne Petersburg.
      626 Gilliam Street, Petersburg, VA 23803
      View Details
    • $199,000
      2,980 SF

      Petersburg All Brick Duplex

      All brick duplex in Petersburg's Historic District.
      625 W Washington Street, Petersburg, VA 23803
      View Details
    • $389,000
      2,900 SF

      Historic Old Towne Mixed-Use Building

      Circa-1820 brick building in downtown Petersburg with income potential.
      124 W Bank St, Petersburg, VA 23803
      View Details
    • $21,000

      Historic Petersburg Vacant Land

      Vacant land in Pocahontas Island Historic District.
      329 Witten Street, Petersburg, VA 23803
      View Details
    • $1,500,000

      62.5 Acres in Petersburg, VA

      Large land parcel available in Petersburg, Virginia.
      2557 N Stedman Drive, Petersburg, VA 23803
      View Details
    • $8,000

      Historic Petersburg Vacant Land

      Vacant land in Pocahontas Island Historic District.
      341 Witten Street, Petersburg, VA 23803
      View Details
    • $160,000

      Residential Land in Historic Neighborhood

      Nearly 1 acre in historic Petersburg, ideal for custom build.
      1201 Northampton Rd, Petersburg, VA 23805
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Three-acre Petersburg land parcel near I-85 and I-95.
    Where is this residential land & home lot located?
    The property is located at 900 Fort Lee Road Petersburg, VA.
    What is the asking price?
    The asking price for this property is $69,900.
    What are key features of this property?
    This property features: 3 Acres of Land in Petersburg; Potential for subdividing into a small neighborhood (up to 15 homes, per planning and zoning); Convenient access to I‑85 South and I‑95 South
    (804) 586-3608
    We can help!
    Listing Contact
    Holly Pond
    Real Estate License ID: 0225052789
    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
    900 Fort Lee Road, Petersburg, VA 23803
    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!