Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Commercial Land For Sale Title is generated by Realmo AI

    3016 Royal Virginia Pkwy, Louisa, VA 23093

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    151.5 acres of commercial land with close access to I-64.

    Type:Retail, Land
    Property size:
    3,252 SF
    Lot size:
    151.50 Acres
    Price / SF:
    $461/SF
    Added:
    May 20, 2023
    Days on Market:
    1113
    Last Refresh:
    May 12 at 8:21 pm

    Property Features for 3016 Royal Virginia Pkwy

    General Information

    Standard status
    Active
    Size
    3,252 SF
    Lot size
    151.50 Acres
    Property subtype
    Retail, Land

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    Ellen Long

    Listing agent Ellen Long License #VA 0225090856

    Listing office Taylor Long Properties Commercial Real Estate

    Listing date May 20, 2023

    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 Taylor Long Properties Commercial Real Estate

    HighLights

    • ± 151.5 Acres of Commercial Land
    • Zoned A‑I (Agribusiness/Agricultural)
    • Located at the intersection of Royal Virginia Pkwy & Three Chopt Road
    • Close access to Interstate 64
    • In the Goochland Submarket of Louisa
    • Year Built: 1950

    Overview

    This property features approximately 151.5 acres of commercial land available for sale. It is zoned A-I (Agribusiness/Agricultural). The location is at the intersection of Royal Virginia Parkway and Three Chopt Road, offering convenient access to Interstate 64. The property is situated within the Goochland submarket of Louisa.
    Property Profile Location Intelligence

    Current Use by Public Records

    Gardens Of Tranquility Charitable Organization

    Suggested Use

    Restaurant Auto Repair Shop Auto Parts Store Food Market Grocery & Convenience Store Shopping Center & Mall Supermarket Parking Lot & Garage

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

    Location Insight

    • Map
    • Local Demand
    City
    Louisa
    County
    Louisa
    State
    Virginia
    Longitude
    -78.0044552
    Latitude
    37.8373673

    Nearby Similar for Sale

    • $625,000

      28.5 Acres Fenced Pastures, Barn

      28.5 acres with fenced pastures, barn, and office space.
      50 ELIZABETH, LOUISA, VA 23093
      View Details
    • $125,000

      Ready-to-Build Louisa County Land

      5-acre parcel with well, driveway, and foundation.
      FIREHOUSE Drive, LOUISA, VA 23093
      View Details
    • $239,500
      1,438 SF

      Equipped Commercial Space in Louisa

      Affordable commercial space with a fully equipped kitchen in Louisa.
      101 ELM Ave, Louisa, VA 23093
      View Details
    • $325,000

      Waterfront Lot in Louisa, Virginia

      Waterfront lot with private dock in Blue Ridge Shores.
      TBD S LAKESHORE DR, LOUISA, VA 23093
      View Details
    • $300,000

      Residential Building Lot Overlooking Lake

      5-acre residential building lot with lake access near Charlottesville.
      ROCK QUARRY RD, LOUISA, VA 23093
      View Details
    • $2,750,000

      243-Acre Equestrian Estate

      Private 243-acre estate with equestrian facilities and guest cottages.
      615 RIGGS ROAD, Louisa, VA 23093
      View Details
    • $1,600,000
      20,700 SF

      Self-Storage Facility with Expansion Potential

      175-unit self-storage facility on 4.54 acres with expansion potential.
      4041 Davis Hwy, Louisa, VA 23093
      View Details
    • $115,000

      Louisa, VA Land Parcel

      7.952 acre lot, build your dream home!
      Kinneytown, Louisa, VA 23117
      View Details
    • $115,000

      Land in Louisa, Virginia

      7.952 acre lot, build your dream home!
      Kinneytown, Louisa, VA 23117
      View Details
    • $89,000

      Waterfront Lot in Blue Ridge Shores

      Waterfront lot with dock in gated Blue Ridge Shores community.
      1242 N LAKESHORE DR, LOUISA, VA 23093
      View Details
    • $215,000

      Land in Louisa, Virginia

      Cleared 15.9-acre lot suitable for residential or development purposes.
      Kinneytown, Louisa, VA 23117
      View Details
    • $22,900

      Blue Ridge Shores Land Opportunity

      Two lots in Blue Ridge Shores community with lake access.
      562/563 Locust Dr, Louisa, VA 23093
      View Details

    FAQs

    What type of property is this?
    Commercial land - 151.5 acres of commercial land with close access to I-64.
    Where is this commercial land located?
    The property is located at 3016 Royal Virginia Pkwy Louisa, VA.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: ± 151.5 Acres of Commercial Land; Zoned A‑I (Agribusiness/Agricultural); Located at the intersection of Royal Virginia Pkwy & Three Chopt Road
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Ellen Long
    Real Estate License ID: VA 0225090856
    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
    3016 Royal Virginia Pkwy, Louisa, VA 23093
    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!