Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Rich Acres School Rd Martinsville, VA 24112

    • Land
    • 34.00 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Rich Acres School Rd

    Lot size
    34.00 lot acres
    Property type
    Land

    Description

    This exceptional 34-acre tract of land presents a unique investment opportunity in Martinsville, Virginia. Located on Rich Acres School Road, this property boasts a highly desirable A1 zoning classification, opening doors to a variety of commercial and residential development possibilities. The land was clear-cut in 2010, providing a clean slate for future construction. Its strategic location directly across from Rich Acres Elementary School offers significant advantages, including proximity to a thriving community and established infrastructure. The expansive lot size offers ample space for a large-scale project, catering to diverse development needs. With its versatile zoning and prime location, this property is well-suited for a range of projects, from residential subdivisions to commercial ventures. The single-tenant status simplifies development planning and execution. The property's address is Rich Acres School Rd, Martinsville, VA 24112. Serious inquiries are encouraged to explore the full potential of this exceptional land parcel. Detailed site plans and zoning information are readily available upon request. This is an unparalleled opportunity to acquire a significant land holding in a growing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Martinsville
    County
    Martinsville City
    State
    Virginia
    Longitude
    -79.8733
    Latitude
    36.6394

    Comparable in this City

    • Value Estimation by Request
      40.00 Acres

      285 Club House Rd

      Farms • 40.00 Acres
      285 Club House Rd, Martinsville, VA 24112
      View Details
    • Value Estimation by Request
      90.00 Acres

      1673 Roundabout Rd

      Land • 90.00 Acres
      1673 Roundabout Rd, Martinsville, VA 24112
      View Details
    • Value Estimation by Request
      46.00 Acres

      Lawson St

      Farms • 46.00 Acres
      0 Lawson St, Martinsville, VA 24112
      View Details
    • Value Estimation by Request
      54.00 Acres

      Melody Ln

      Land • 54.00 Acres
      0 Melody Ln, Martinsville, VA 24112
      View Details
    • Value Estimation by Request
      4.69 Acres

      1102 Church St

      Land • 4.69 Acres
      1102 Church St, Martinsville, VA 24112
      View Details
    • Value Estimation by Request
      113.00 Acres

      Martinsville VA USA William F Stone Hwy

      Multifamily properties • 113.00 Acres
      Martinsville VA USA William F Stone Hwy, Martinsville, VA 24112
      View Details

    Similar Nearby for Sale

    • $125,000
      4.69 Acres

      Prime Martinsville Commercial Land

      4.69 Acres, High Traffic, C-C Zoning
      1102 Church St, Martinsville, VA 24112
      View Details
    • Contact for pricing
      1.00 Acre

      Prime Henry County Commercial Land

      One-acre lot, ideal commercial development
      205 V C Dr, Martinsville, VA 24112
      View Details
    • $10,560,750
      80.48 Acres

      North Bowles Industrial Park

      80 Acres Industrial Land, Martinsville, VA
      0 Hollie Dr, Martinsville, VA 24112
      View Details
    • $355,000
      124.82 Acres

      Prime Martinsville Development Land

      124 Acres, Public Utilities, Breathtaking Views
      2010 Spruce St, Martinsville, VA 24112
      View Details
    • Contact for pricing
      34.00 Acres

      34-Acre Commercial Land Tract in VA

      Prime Development Land Near School
      0 Rich Acres School Rd, Martinsville, VA 24112
      View Details
    • New
      $49,475
      10.12 Acres

      Martinsville Land For Sale

      10.12 acre lot in Henry County, zoned A1.
      Lookout Mountain Rd, Martinsville, VA 24112
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,920,400 SF

      90-Acre Martinsville Commercial Land

      Prime 90-acre tract; commercial & residential potential.
      1673 Roundabout Rd, Martinsville, VA 24112
      View Details
    • Contact for pricing
      2,352,240 SF

      54-Acre Commercial/Residential Tract

      Prime 54-acre land, dual zoning.
      0 Melody Ln, Martinsville, VA 24112
      View Details
    • Contact for pricing
      2,003,760 SF

      46-Acre Martinsville Development Land

      Versatile land, ideal for mixed-use development.
      0 Lawson St, Martinsville, VA 24112
      View Details
    • Contact for pricing
      1,481,040 SF

      34-Acre Martinsville Development Land

      Prime commercial/residential land, 34 acres.
      0 Rich Acres School Rd, Martinsville, VA 24112
      View Details
    • Contact for pricing
      1,742,400 SF

      Prime 40-Acre Virginia Farm

      Versatile land, ideal for multiple uses.
      285 Club House Rd, Martinsville, VA 24112
      View Details
    • Contact for pricing
      69,696 SF

      Uptown Martinsville Commercial Land

      1.6-acre lot, prime commercial zoning.
      0 Bridge St, Martinsville, VA 24112
      View Details
    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.
    Rich Acres School Rd
    Martinsville, VA 24112
    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

    Google sign-in failed. Please try again or use another login method.