Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Land Near Shopping Center Title is generated by Realmo AI

    9770 Courthouse Rd, Spotsylvania, VA 22553

    View on Map
    Claim this Listing
    For Sale
    $575,000

    Approximately one acre of land near commercial properties.

    Type:Land or Vacant Lot
    Lot size:
    1.00 Acre
    Added:
    Feb 14, 2024
    Days on Market:
    841
    Last Refresh:
    May 10 at 9:08 pm

    Property Features for 9770 Courthouse Rd

    General Information

    Standard status
    Active
    Lot size
    1.00 Acre
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    MYRNA L PHELPS

    Listing agent MYRNA L PHELPS

    Listing office VIRGINIA REAL ESTATE

    Listing date Feb 14, 2024

    Source Corcoran

    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 VIRGINIA REAL ESTATE

    HighLights

    • Approximately 1 acre at the intersection of Courthouse Road and Smith Station Road.
    • Located near commercial properties and across the street from a shopping center.
    • Electric service is available on the property.
    • Potential for commercial use with rezoning.
    • Owner believes Spotsylvania County may change zoning to commercial.
    • Existing well and septic system.

    Overview

    The property consists of approximately 1 acre of land situated at the intersection of Courthouse Road and Smith Station Road. It is located in proximity to commercial properties and across the street from a shopping center. The land is currently zoned RU, and any commercial use would require rezoning. An old, uninhabitable residential house is present on the property. Electric service is available. The property also features an old well and septic system. The lot is bordered by other residential properties. The owner anticipates that Spotsylvania County may change the zoning to commercial, potentially making it suitable for a small, single-unit commercial user. Setback requirements apply. The location is considered advantageous.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Hair Salon Nail Salon Gym & Fitness Center Pharmacy Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Spotsylvania
    County
    Spotsylvania
    State
    Virginia
    Longitude
    -77.5597
    Latitude
    38.2338

    Nearby Similar for Sale

    • $1,450,000

      Prime Commercial Property in SPOTSYLVANIA

      Well-located commercial property with strong visibility and established business environment.
      10411 COURTHOUSE Road, SPOTSYLVANIA, VA 22553
      View Details
    • $899,999
      5,076 SF

      Waterfront Estate with Pond Frontage

      Renovated estate on 14 acres with 1,500 feet frontage.
      7905 E ROBERT E LEE Court, SPOTSYLVANIA, VA 22551
      View Details
    • $599,990
      4,396 SF

      Spotsylvania Triplex: Investment Opportunity

      Spacious triplex with 9 bedrooms, ideal for investors.
      5942 STANFIELD Road, SPOTSYLVANIA, VA 22551
      View Details
    • $164,900

      5-Acre Homesite in River Will

      Wooded 5-acre lot in private community near Route 3.
      7531 SCOTTS FARM RD, SPOTSYLVANIA, VA 22553
      View Details
    • $1,275,000

      Lake Anna Waterfront Farm

      30-acre farm with lake frontage and charming home.
      6000 HALEYS MILL RD, SPOTSYLVANIA, VA 22551
      View Details
    • $155,000

      Land in Spotsylvania, Virginia

      9.24 acres near Cosner Corner, close to Fredericksburg.
      6437 HICKORY RIDGE Road, SPOTSYLVANIA, VA 22551
      View Details
    • $350,000

      Spotsylvania Wooded Land Opportunity

      9.99 acres of wooded land, build your dream house.
      7213 Cloverhill Road, Spotsylvania, VA 22551
      View Details
    • $290,000

      Lake Anna Waterfront Land

      2.32 acre waterfront lot on Lake Anna.
      6200 Stubbs Cove Lane, Spotsylvania, VA 22551
      View Details
    • $259,000

      Spotsylvania Land with River Access

      5.06 acre wooded lot with direct deeded access to Rapidan River.
      4 Dillard Road, Spotsylvania, VA 22407
      View Details
    • $975,000

      Expansive Land in Spotsylvania, Virginia

      50-acre lot zoned A-3, ideal for residential or agricultural use.
      7635 STUBBS BRIDGE Road, SPOTSYLVANIA, VA 22551
      View Details
    • $140,000

      Spotsylvania Wooded Land Parcel

      4.7-acre wooded parcel in Spotsylvania, perfect for custom home.
      13476 Post Oak Road, Spotsylvania, VA 22551
      View Details
    • $130,000

      Spotsylvania Land Near Lake Anna

      Five-acre lot near Lake Anna with mature trees and privacy.
      6650 HOOK Court, SPOTSYLVANIA, VA 22551
      View Details

    FAQs

    What type of property is this?
    Commercial land - Approximately one acre of land near commercial properties.
    Where is this commercial land located?
    The property is located at 9770 Courthouse Rd Spotsylvania, VA.
    What is the asking price?
    The asking price for this property is $575,000.
    What are key features of this property?
    This property features: Approximately 1 acre at the intersection of Courthouse Road and Smith Station Road.; Located near commercial properties and across the street from a shopping center.; Electric service is available on the property.
    (703) 732-0144
    We can help!
    Listing Contact
    MYRNA L PHELPS
    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
    9770 Courthouse Rd, SPOTSYLVANIA, VA 22553
    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!