Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    115 Ponderosa Dr Christiansburg, VA 24073
    Back to Search
    Property profile & analytics

    115 Ponderosa Dr Christiansburg, VA 24073

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

    Current Use by Public Records

    • Land

    Property Details for 115 Ponderosa Dr

    Lot size
    0.99 lot acres
    Property type
    Land

    Description

    This exceptional 0.991-acre commercial lot, located at 115 Ponderosa Dr NE in Christiansburg, VA (zip code 24073), presents a unique development opportunity. The property boasts a level, pad-ready site already improved with curb cuts and a substantial 34-space asphalt parking lot. Zoned B-3, this versatile parcel allows for a wide range of commercial uses, including medical facilities, retail spaces, offices, automotive businesses, and restaurants. Its strategic location near the New River Valley Mall places it within the heart of the region's retail hub, ensuring high visibility and accessibility. Convenient access to Highway 460, Blacksburg, and the Virginia Tech campus further enhances its appeal. The surrounding area is rich with amenities, including the Christiansburg Marketplace (home to Academy Sports, Earth Fare, and numerous restaurants), as well as Outback Steakhouse, Best Buy, Hobby Lobby, Lowe's Home Depot, and the NRV Mall, all within close proximity. The asking price is $495,000, representing a price per acre of $499,495. The APN is 406 8 21A. Ownership is held by NRV Market Square LLC. This is a truly exceptional opportunity for investors seeking a prime location and immediate development potential. Bring all offers!

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Christiansburg
    County
    Montgomery
    State
    Virginia
    Longitude
    -80.4186
    Latitude
    37.1704

    Comparable in this City

    • Value Estimation by Request
      3.68 Acres

      Parcel 3 Tyler Rd

      Land • 3.68 Acres
      Parcel 3 Tyler Rd, Christiansburg, VA 24073
      View Details
    • Value Estimation by Request
      66.00 Acres

      2315 Yellow Sulfer Rd

      Land • 66.00 Acres
      2315 Yellow Sulfer Rd, Christiansburg, VA 24073
      View Details
    • Value Estimation by Request

      2175 Franklin St

      Land
      2175 Franklin St, Christiansburg, VA 24073
      View Details
    • Value Estimation by Request
      0.30 Acres

      567 Franklin St

      Land • 0.30 Acres
      567 Franklin St, Christiansburg, VA 24073
      View Details
    • Value Estimation by Request

      780 White Pine Dr

      Manufacturing properties
      780 White Pine Dr, Christiansburg, VA 24073
      View Details
    • Value Estimation by Request
      35.00 Acres

      Tyler St

      Land • 35.00 Acres
      0 Tyler St, Christiansburg, VA 24073
      View Details

    Similar Nearby for Sale

    • $39,000
      2.15 Acres

      Land Near Downtown Christiansburg

      2.153 acres of land, 5 minutes from downtown.
      Tbd Pilot Rd, Christiansburg, VA 24073
      View Details
    • Contact for pricing

      Land For Sale Roanoke Street

      One acre of land available off Roanoke Street.
      1030 Sherwood Dr, Christiansburg, VA 24073
      View Details
    • $489,000
      166.72 Acres

      166+ Acres Near Virginia Tech

      Private acreage with views near Virginia Tech and the New River.
      Tbd Peppers Fry Rd, Christiansburg, VA 24073
      View Details
    • Contact for pricing

      Prime Development Land in Christiansburg

      2.456 acres in a thriving commercial neighborhood.
      2890 N Franklin St, Christiansburg, VA 24073
      View Details
    • New
      $55,000
      Pending

      Residential Land in Established Area

      Building lot near schools, shopping, and town amenities.
      60 Ellett Rd, Christiansburg, VA 24073
      View Details
    • Contact for pricing

      High Visibility Commercial Site

      Corner lot with high traffic, potential for drive-through.
      2 Depot St NE, Christiansburg, VA 24073
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,500 SF

      Prime Retail Space for Lease

      1.72 AC outparcel with frontage on Route 460.
      1540-1600 Roanoke St, Christiansburg, VA 24073
      View Details
    • Contact for pricing
      1,149 SF

      Private Office Space Available

      Office suite for lease, convenient location, monument signage.
      155-159 Walters Dr, Christiansburg, VA 24073
      View Details
    • Contact for pricing

      Charming Office Spaces For Rent

      Office spaces for rent near downtown Christiansburg, Virginia.
      300 Pepper St SE, Christiansburg, VA 24073
      View Details
    • Contact for pricing

      Retail Space in Christiansburg, Virginia

      950 SF retail space for lease in Christiansburg, Virginia.
      55 Conston Ave NW, Christiansburg, VA 24073
      View Details
    • Contact for pricing
      1,050 SF

      Regional Shopping Center Space Available

      Retail space in a busy shopping center near universities.
      35-95 Conston Ave, Christiansburg, VA 24073
      View Details
    • Contact for pricing

      Retail Space in Prime Location

      Up to 44,000 SF retail space in Christiansburg, Virginia.
      145 Shoppers Way Northwest, Christiansburg, VA 24073
      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.
    115 Ponderosa Dr
    Christiansburg, VA 24073
    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
    115 Ponderosa Dr, Christiansburg, VA, 24073
    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!