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

    Lot 1 Hwy 58 Norton, VA 24273

    • Land
    • 4.64 lot acres
    For Sale
    View listing
    $525,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Lot 1 Hwy 58

    Lot size
    4.64 lot acres
    Property type
    Land

    Description

    This exceptional 4.644-acre commercial land parcel presents a remarkable investment opportunity in Norton, Virginia. Strategically located on Highway 58, this elevated site boasts significant visibility and accessibility, benefiting from an estimated 12,000 vehicles passing daily. The B3 zoning allows for a diverse range of commercial uses, including medical facilities, retail establishments, and office spaces, offering considerable development potential. Infrastructure is readily available at the roadside, and the property's size allows for potential subdivision. The asking price is $525,000, translating to approximately $113,146.55 per acre. The property's location in the heart of Norton ensures high traffic volume and convenient access to local amenities. Its elevated position provides excellent visibility and a commanding presence along Highway 58. The parcel is identified by APN 469-A-3. All provided information is based on tax records and owner data and should be independently verified. This prime location and flexible zoning make this an exceptional opportunity for commercial development in a thriving community. Don't miss this chance to secure a prominent position in Norton's commercial landscape.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Norton
    County
    Norton
    State
    Virginia
    Longitude
    -82.6162
    Latitude
    36.9381

    Comparable in this City

    • Value Estimation by Request
      5.80 Acres

      58 Lot 2 Hwy

      Land • 5.80 Acres
      58 Lot 2 Hwy, Norton, VA 24273
      View Details
    • Value Estimation by Request
      19,345 SF

      702 Park Ave

      Commercial real estate • 19,345 SF
      702 Park Ave, Norton, VA 24273
      View Details
    • Value Estimation
      $500,000
      33,473 SF

      5703 Crutchfield Dr

      COMMERCIAL (GENERAL) • 33,473 SF
      5703 Crutchfield Dr, Norton, VA 24273-3902
      View Details
    • Value Estimation
      $290,000
      1,978 SF

      1224 Spg SW Ave

      COMMERCIAL (GENERAL) • 1,978 SF
      1224 Spg SW Ave, Norton, VA 24273
      View Details
    • Value Estimation by Request
      2.37 Acres

      447 Hawthorne NE Dr

      VACANT COMMERCIAL LAND • 2.37 Acres
      447 Hawthorne NE Dr, Norton, VA 24273-2958
      View Details
    • Value Estimation
      $295,000
      5,476 SF

      100 Spg SW Ave

      COMMERCIAL (GENERAL) • 5,476 SF
      100 Spg SW Ave, Norton, VA 24273
      View Details

    Similar Nearby for Sale

    • $525,000
      4.64 Acres

      Prime Norton Commercial Land

      4.64 acres, Hwy 58 frontage, B3 zoning
      0 Lot 1 Hwy 58, Norton, VA 24273
      View Details
    • $495,000
      5.80 Acres

      Prime Norton Commercial Land

      5.8 Acres, Hwy 58 Exposure, B3 Zoning
      0 Lot 2 Hwy 58, Norton, VA 24273
      View Details
    • $165,000
      7,248 SF

      Prime Norton Commercial Space

      7,248 SF, 0.5-Acre Lot, $165,000
      508 Park Ave, Norton, VA 24273
      View Details
    • $425,000
      19,345 SF

      Downtown Norton Commercial Gem

      19,000 SF, 0.5-acre lot, high potential
      702 Park Ave, Norton, VA 24273
      View Details
    • $149,500
      64.90 Acres

      64.9 Acres of Recreational Land

      Land with potential for hunting, camping, and investment opportunities.
      Nettle Patch, Norton, VA 24273
      View Details
    • $39,900
      14.99 Acres

      Scenic Mountain Land with Potential

      15 acres of mountain land perfect for outdoor adventures.
      7576 Wells Adams Rd, Norton, VA 24273
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      23,145 SF

      Norton, VA Retail Space Available

      High-traffic Co-Tenancy near Rural King
      608 Trent St, Norton, VA 24273
      View Details
    • $13 SF/Yr
      7,019 SF

      Norton, VA Office Suites Available

      Modern Office Space, Multiple Sizes
      280 Virginia Ave, Norton, VA 24273
      View Details
    • Contact for pricing
      4,003 SF

      Norton Commons Retail Space Available

      Retail space for lease in a Walmart shadow-anchored center.
      708-780 Commonwealth Dr, Norton, VA 24273
      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.
    Lot 1 Hwy 58
    Norton, VA 24273
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.