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    Elevated Subdivision Homesite Title is generated by Realmo AI

    BUCKLAND DR lot 9, Lexington, VA 24450

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    For Sale
    $135,000

    LAND - LEXINGTON, VA

    Lot size:
    6.42 Acres
    Added:
    May 4, 2026
    Days on Market:
    33
    Last Refresh:
    Jun 5 at 8:06 am

    Property Features for BUCKLAND DR lot 9

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    60-29-9
    Lot size
    6.42 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    BUCKLAND SUB DIV LOT 9; 60-29-9; 6.42 Acres
    Tax Annual Amount
    619

    We can help!

    Listing Contact
    JESSICA SAMPLE

    Listing agent JESSICA SAMPLE License #0225254612

    Listing office EXP REALTY LLC - STAFFORD 800 Corporate Drive Suite 301, Richmond, VA

    Listing date May 4, 2026

    MLS# 676708 Listing URL

    Copyright © 2026 Charlottesville Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 6.42‑acre homesite at the cul‑de‑sac end of Buckland Dr in Buckland Subdivision, Rockbridge County, with elevated building area
    • Open grassy clearings with mature wooded borders for privacy
    • 3‑acre minimum lot size may allow subdivision into two premium homesites (per the listing description)
    • Each established lot has been perked for private well and septic
    • Underground electric is run to the property and the road is Virginia state maintained
    • HOA dues are listed as $250/yr; location is less than 2 miles to the Lexington Historic District and under 3 miles to I‑81 and Route 11

    Overview

    Lot 9 in Buckland Subdivision is a 6.42-acre elevated homesite located at the quiet cul-de-sac end of Buckland Dr. The property features an open, grassy clearing blended with mature wooded borders, offering a secluded setting with views of the surrounding mountains. A minimum 3-acre lot size applies, and the parcel may allow subdivision into two homesites, subject to applicable requirements. Each established lot has been perked for private well and septic, and underground electric has been run to the property, supporting future buildout planning.

    The subdivision is part of Rockbridge County and managed with a Virginia state maintained road, helping reduce private road maintenance and snow removal obligations beyond the current $250 per year HOA dues. The HOA also includes an architectural review process designed to help preserve the neighborhood’s character. For general area access, the property is less than 2 miles to the Lexington Historic District and about 1.3 miles to VA Military Inst / Wash & Lee University, with I-81 and Route 11 located under 3 miles away.

    This lot is well suited for buyers seeking privacy, larger-lot flexibility, and a prepared foundation for residential development, given the perked status for well and septic and the presence of underground electric. It also offers a practical option for builders or investors interested in pursuing a two-homesite configuration under the subdivision’s minimum lot size rule, while remaining in an established, architecturally guided residential community.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Lexington
    County
    Lexington
    State
    Virginia
    Longitude
    -79.46187755
    Latitude
    37.79642376

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    FAQs

    What type of property is this?
    Residential land & home lot - A 6.42-acre elevated lot in Buckland Subdivision with wooded borders, perked sites, and utility service in place.
    Where is this residential land & home lot located?
    The property is located at BUCKLAND DR lot 9 Lexington, VA.
    What is the asking price?
    The asking price for this property is $135,000.
    What are key features of this property?
    This property features: 6.42‑acre homesite at the cul‑de‑sac end of Buckland Dr in Buckland Subdivision, Rockbridge County, with elevated building area; Open grassy clearings with mature wooded borders for privacy; 3‑acre minimum lot size may allow subdivision into two premium homesites (per the listing description)
    (410) 913-8800
    We can help!
    Listing Contact
    JESSICA SAMPLE
    Real Estate License ID: 0225254612
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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.

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