Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    4677 Greensboro Rd Ridgeway, VA 24148
    Back to Search
    Property profile & analytics

    4677 Greensboro Rd, Ridgeway, VA 24148

    View on Map
    • Land
    • 1.10 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 4677 Greensboro Rd

    Lot size
    1.10 lot acres
    Property type
    Land

    Description

    This exceptional 1.132-acre commercial lot presents a remarkable opportunity in the thriving town of Ridgeway, Virginia. Located on Greensboro Road, this property boasts a highly desirable B-1 zoning classification, making it suitable for a variety of commercial uses, including restaurants and retail establishments. The land is already graded, and all essential utilities are readily available, significantly reducing development time and costs. Its strategic location ensures high visibility and accessibility, placing it within close proximity to a cluster of established businesses. These include prominent national chains such as Speedway, Wendy's, Hardee's, and Tractor Supply, as well as local favorites like the Ridgeway Family Clinic and Gunter Auto Group. This established commercial corridor guarantees a steady flow of potential customers, making this lot an ideal investment for entrepreneurs seeking a prime location to establish their business. The property's size and zoning provide ample space for development, catering to a range of commercial ventures. This is a rare opportunity to secure a well-situated, ready-to-develop commercial lot in a growing community. Don't miss out on this chance to capitalize on the potential of this exceptional property. The address is 4677 Greensboro Rd, Ridgeway, VA 24148.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Ridgeway
    County
    Henry
    State
    Virginia
    Longitude
    -79.8588
    Latitude
    36.6298

    Comparable in this City

    • Value Estimation by Request
      1.13 Acres

      4677 Greensboro Rd

      Land
      4677 Greensboro Rd, Ridgeway, VA 24148
      View Details
    • Value Estimation by Request
      2.80 Acres

      Greensboro Rd

      Individual retail properties
      0 Greensboro Rd, Ridgeway, VA 24148
      View Details
    • Value Estimation by Request
      190.00 Acres

      Deshazo Rd

      Farms
      0 Deshazo Rd, Ridgeway, VA 24148
      View Details
    • Value Estimation by Request
      0.42 Acres

      Evening Star Ln

      COMMERCIAL (GENERAL)
      Evening Star Ln, Ridgeway, VA 24148
      View Details
    • Value Estimation by Request
      0.18 Acres

      Dupont Rd

      COMMERCIAL (GENERAL)
      Dupont Rd, Ridgeway, VA 24148
      View Details
    • Value Estimation by Request
      5.00 Acres

      87 Frith Dr

      COMMERCIAL (GENERAL)
      87 Frith Dr, Ridgeway, VA 24148-4789
      View Details

    Similar Nearby for Sale

    • $275,000
      2.80 Acres

      US 220 Speedway Commercial Land

      High-traffic, 2.8-acre commercial lot.
      0 Greensboro Rd, Ridgeway, VA 24148
      View Details
    • $225,000
      25.85 Acres

      Ridgeway, VA Land Parcel

      25+ acre parcel comprised of 55 undivided lots.
      100 Drag Mountain Rd, Ridgeway, VA 24148
      View Details
    • Contact for pricing

      17.51 Acre Site on 220

      17.51 acre site with 1,321 feet of frontage.
      27 Covington Ln, Ridgeway, VA 24148
      View Details
    • $550,000
      63.40 Acres

      Buildable Land on Drag Mountain

      63.4 acres of buildable land in Ridgeway, Virginia.
      Drag Mountain Rd, Ridgeway, VA 24148
      View Details
    • $275,000

      2.8 Acres Development Site

      2.8-acre development site with high visibility and easy access.
      Greensboro Rd, Ridgeway, VA 24148
      View Details
    • $190,000
      11.81 Acres

      Ridgeway Land For Sale

      Land with historic significance, suitable for wedding venue or business.
      37 Church St, Ridgeway, VA 24148
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Ridgeway Commercial Lot For Rent

      1.132 acre commercial lot in Ridgeway, Virginia.
      4677 Greensboro Rd, Ridgeway, VA 24148
      View Details
    • Contact for pricing

      Prime Location Near Martinsville Speedway

      Pad site near shopping center with high traffic and visibility.
      4920 Greensboro Rd, Ridgeway, VA 24148
      View Details
    • Contact for pricing

      Truck Garage with Offices

      4,900 SF truck garage with offices for rent.
      4690 Greensboro Rd, Ridgeway, VA 24148
      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.
    4677 Greensboro Rd
    Ridgeway, VA 24148
    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
    4677 Greensboro Rd, Ridgeway, VA, 24148
    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!