Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Rocky Mount Land with Views Title is generated by Realmo AI

    Penny Ln lot 67, Rocky Mount, VA 24151

    View on Map
    Claim this Listing
    For Sale
    $110,000

    LAND - Rocky Mount, VA

    Lot size:
    0.70 Acres
    Added:
    Jun 5, 2025
    Days on Market:
    366
    Last Refresh:
    Jun 5 at 5:06 pm

    Property Features for Penny Ln lot 67

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R1
    Standard status
    Active
    APN
    2010106700
    Lot size
    0.70 Acres

    Taxes and HOA fees

    Tax Annual Amount
    504

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    BOB PARCELL
    BOB PARCELL

    Listing agent BOB PARCELL License #0225082024

    Listing office MOUNTAIN TO LAKE REALTY 195 S MAIN STREET, Rocky Mount, VA

    Listing date Jun 5, 2025

    MLS# 917980 Listing URL

    Copyright © 2026 Roanoke Valley 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

    • Tremendous mountain views of Cahas Mountain and rolling hills.
    • Excellent location within town limits.
    • Opportunity for private backyard.
    • Good lot for a walkout basement.
    • Located in an area of very nice homes.
    • Public water and sewer available.

    Overview

    This 0.7-acre lot is located in Rocky Mount, VA, and offers mountain views of Cahas Mountain and rolling hills. Situated on Penny Ln, the property is within the town limits, providing convenience while also offering the potential for a private backyard. The lot is suitable for a walkout basement and is located in an area with well-maintained homes. The intended use of the property is residential. Hookups for public water, sewer, and power are the responsibility of the buyer. Taxes are based on county records.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Rocky Mount
    County
    Franklin
    State
    Virginia
    Longitude
    -79.88683
    Latitude
    37.027914

    Nearby Similar for Sale

    • $425,000

      Versatile Mixed-Use Property in Rocky Mount

      Flexible property suitable for residential, commercial, or multi-family use.
      114 W CHURCH St, Rocky Mount, VA 24151
      View Details
    • $750,000

      Expansive 100-Acre Development Parcel

      100+ acre parcel ideal for residential or commercial development.
      N Main St, Rocky Mount, VA 24151
      View Details
    • $324,900

      Rocky Mount GB Zoned Property

      Well-maintained Rocky Mount property with detached workshop and garage.
      45 Meadow View Ave, Rocky Mount, VA 24151
      View Details
    • $439,900

      Rocky Mount Quadplex Investment Opportunity

      Quadplex in Rocky Mount, VA, ideal for investment portfolio.
      60 Sunrise RD, Rocky Mount, VA 24151
      View Details
    • $210,000

      Commercial Land in Rocky Mount

      7+ acre commercial property in a convenient location.
      S MAIN St, Rocky Mount, VA 24151
      View Details
    • $450,000

      Prime Commercial Lot, Rocky Mount

      Exceptional commercial lot at a prime intersection with high visibility.
      Tanyard Rd, Rocky Mount, VA 24151
      View Details
    • $119,000

      Versatile Land Near Rocky Mount

      17 acres of balanced land with build potential and recreation.
      1980 Power Dam Road, Rocky Mount, VA 24151
      View Details
    • $37,500

      Wooded Lot with Creek Frontage

      Almost level, wooded 5-acre lot with creek frontage.
      Storey Creek Ln, Rocky Mount, VA 24151
      View Details
    • $118,800

      Farmland with Creek Frontage

      27+ acres of open fields and wooded land with fenced pasture, watering boxes, springs, and creek frontage.
      Fishburn Mountain Road, Rocky Mount, VA 24151
      View Details
    • $54,900

      Rocky Mount Acreage with Utilities

      3.64 acre lot with well, septic, and power.
      Hollyfield Rd, Rocky Mount, VA 24151
      View Details
    • $660,000
      2,853 SF

      Restaurant-Style Building on 0.78 Acres

      2,853 sq. ft. building on 0.78 acres for sale.
      20221 Virgil H Goode Hwy, Rocky Mount, VA
      View Details
    • $4,500

      Land in Rocky Mount, VA

      Narrow tract with road frontage in Rocky Mount, Virginia.
      Doe Run Road, Rocky Mount, VA 24151
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential lot in Rocky Mount with mountain views.
    Where is this residential land & home lot located?
    The property is located at Penny Ln lot 67 Rocky Mount, VA.
    What is the asking price?
    The asking price for this property is $110,000.
    What are key features of this property?
    This property features: Tremendous mountain views of Cahas Mountain and rolling hills.; Excellent location within town limits.; Opportunity for private backyard.
    (540) 420-2030
    We can help!
    Listing Contact
    BOB PARCELL
    BOB PARCELL
    Real Estate License ID: 0225082024
    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
    Penny Ln lot: 67, Rocky Mount, VA 24151
    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!