Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    - 0.91 Ac Waterlick Rd Forest, VA 24551
    Back to Search
    Property profile & analytics

    - 0.91 Ac Waterlick Rd Forest, VA 24551

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

    Current Use by Public Records

    • Land

    Property Details for - 0.91 Ac Waterlick Rd

    Lot size
    0.91 lot acres
    Property type
    Land

    Description

    This 0.91-acre commercial lot (Lot 3), located on Waterlick Road near the Thomas Jefferson Road intersection in Forest, Virginia (zip code 24551), presents a fantastic opportunity for various business ventures. The property boasts 130 feet of road frontage, ensuring excellent visibility and accessibility. Its C-1 zoning allows for a wide range of uses, including but not limited to office space, beauty salons, multi-family dwellings, counseling centers, churches, and daycare facilities. The land itself is well-situated and level, making development straightforward. Water access is available on-site. This is an exceptional opportunity for investors or entrepreneurs seeking a prime location in a growing area. Note that two additional adjoining lots (Lots 4 & 5) are also available for purchase, offering potential for larger-scale development or expansion. The asking price for this specific parcel (Lot 3) is $89,000. The property's coordinates are latitude 37.336252 and longitude -79.270353. Bedford County is the county location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Forest
    County
    Bedford
    State
    Virginia
    Longitude
    -79.2704
    Latitude
    37.3363

    Comparable in this City

    • Value Estimation by Request
      1.58 Acres

      5523 Waterlick Rd

      Land • 1.58 Acres
      5523 Waterlick Rd, Forest, VA 24551
      View Details
    • Value Estimation by Request
      1.44 Acres

      14580 Forest Rd

      Land • 1.44 Acres
      14580 Forest Rd, Forest, VA 24551
      View Details
    • Value Estimation by Request
      5.11 Acres

      Forest Rd

      Land • 5.11 Acres
      0 Forest Rd, Forest, VA 24551
      View Details
    • Value Estimation by Request
      0.91 Acres

      - 0.91 Ac. Waterlick Rd

      Land • 0.91 Acres
      - 0.91 Ac. Waterlick Rd, Forest, VA 24551
      View Details
    • Value Estimation by Request
      1.08 Acres

      22101 Timberlake Rd

      Land • 1.08 Acres
      22101 Timberlake Rd, Lynchburg, VA 24551
      View Details
    • Value Estimation by Request

      Ashwood Park Dr

      Land
      0 Ashwood Park Dr, Forest, VA 24551
      View Details

    Similar Nearby for Sale

    • $64,900
      Pending

      Land with Mountain Views

      Land featuring mountain views, sidewalks, and community amenities.
      -s2 Perrowville Rd, Forest, VA 24551
      View Details
    • $70,000
      Pending

      Residential Lot in Farmington, Forest

      Building lot with mountain views, near restaurants and shopping.
      15 Lot Dayna Ct, Forest, VA 24551
      View Details
    • Contact for pricing

      2.3 AC Commercial Property

      Unique commercial property with infrastructure in place, ready for development.
      3714 Waterlick Rd, Forest, VA 24551
      View Details
    • Contact for pricing

      Commercial Land on Forest Road

      Two parcels totaling 1.44 acres with road frontage.
      14580 Forest Rd, Forest, VA 24551
      View Details
    • $650,000

      Lynchburg Land Ready to Build

      5.11 acres ideal for restaurant, retail, medical, or office.
      Forest Rd, Forest, VA 24551
      View Details
    • $82,500
      0.86 Acres

      Residential Land in Forest, VA

      0.856-acre lot ideal for building a dream home.
      0-Lot 1 Kitsmont, Forest, VA 24551
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      2,524 SF

      Forest Office Suite For Rent

      1,750 SF office suite in a convenient Forest location.
      300 Enterprise Dr, Forest, VA 24551
      View Details
    • $16 SF/Yr
      1,800 SF

      1,800 SF Office Space For Lease

      1,800 SF Office Space For Lease
      300 Gristmill Drive, Forest, VA 24551
      View Details
    • $16 SF/Yr
      2,400 SF

      Retail Space in Forest, Virginia

      Retail spaces available in Food Lion anchored shopping center.
      18013 Forest Rd, Forest, VA 24551
      View Details
    • Contact for pricing

      Retail Space in Forest, VA

      1,400 SF retail space in a busy shopping center.
      14521 Forest Rd, Forest, VA 24551
      View Details
    • Contact for pricing

      Forest VA Office Space Available

      Office space for rent in Forest Professional Park.
      1088 Vista Park Dr, Forest, VA 24551
      View Details
    • $10 SF/Yr

      Retail/Office/Flex Space Available

      4,000 SqFt retail, office, or flex space for rent.
      17824 Forest Rd, Forest, VA 24551
      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.
    - 0.91 Ac Waterlick Rd
    Forest, VA 24551
    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
    - 0.91 Ac Waterlick Rd, Forest, VA, 24551
    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!