Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    12800 Booker T Washington Hwy Hardy, VA 24101

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    12800 Booker T Washington Hwy Hardy, VA 24101

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

    Current Use by Public Records

    • Land

    Property Details for 12800 Booker T Washington Hwy

    Lot size
    56.62 lot acres
    Property type
    Land

    Description

    This exceptional 56.62-acre commercial land parcel in Hardy, Virginia, presents a significant investment opportunity. Located at 12800 Booker T Washington Hwy, 24101, this property boasts a prime location adjacent to Westlake Towne Center, the largest commercial district in the Smith Mountain Lake area. The site benefits from high visibility and accessibility, with daily traffic counts exceeding 15,000 vehicles on Route 122. Currently zoned PCD, the land offers versatile development potential. Utilities are readily available through the Western Virginia Water Authority, providing access to water and sewer services. The property's configuration allows for the development of commercial outparcels along Route 122, while the rear portion is suitable for single or multifamily housing. The asking price is $4,000,000, translating to approximately $70,646 per acre. This represents a compelling investment in a thriving commercial area with significant growth potential. The property is owned by Willard Investment Properties, LLC. This is a rare opportunity to acquire a large, strategically located parcel in a high-demand area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hardy
    County
    Franklin
    State
    Virginia
    Longitude
    -79.7241
    Latitude
    37.1204

    Comparable in this City

    • Value Estimation by Request

      Builders Pride Dr

      Land
      0 Builders Pride Dr, Moneta, VA 24101
      View Details
    • Value Estimation by Request
      42.45 Acres

      Booker T Washington Hwy

      Land • 42.45 Acres
      0 Booker T Washington Hwy, Wirtz, VA 24101
      View Details
    • Value Estimation
      $1,005,000
      37,702 SF

      115 Retirement Dr

      COMMERCIAL (GENERAL) • 37,702 SF
      115 Retirement Dr, Hardy, VA 24101-3988
      View Details
    • Value Estimation by Request
      9,600 SF

      Scruggs Rd

      COMMERCIAL (GENERAL) • 9,600 SF
      Scruggs Rd, Hardy, VA 24101
      View Details
    • Value Estimation by Request
      5,612 SF

      1026 Bandy Ml Rd

      COMMERCIAL (GENERAL) • 5,612 SF
      1026 Bandy Ml Rd, Hardy, VA 24101-3732
      View Details
    • Value Estimation by Request
      1.54 Acres

      40 Enterprise Ln

      COMMERCIAL (GENERAL) • 1.54 Acres
      40 Enterprise Ln, Hardy, VA 24101-3970
      View Details

    Similar Nearby for Sale

    • $37,000
      5.00 Acres

      Buildable Land Near Smith Mountain

      Five-acre lot near Smith Mountain Lake, Vinton, and Roanoke.
      521 Shady Acres Dr, Hardy, VA 24101
      View Details
    • $250,000
      25.00 Acres

      Franklin County Land For Sale

      25 acres of land near Smith Mountain Lake.
      Northridge Rd, Hardy, VA 24101
      View Details
    • Contact for pricing

      Water Access Lot at SML

      Waterfront land with community amenities near Westlake and Vinton.
      Old Mill Dr, Hardy, VA 24101
      View Details
    • Contact for pricing
      0.83 Acres

      Hardy, VA Wooded Building Lot

      Wooded building lot available in Hardy, Virginia.
      Bousman Cir, Hardy, VA 24101
      View Details
    • $74,950
      5.00 Acres

      Hardy, VA Wooded Building Lot

      5-acre wooded lot for residential building in Hardy, VA.
      Whispering Heights Dr, Hardy, VA 24101
      View Details
    • $82,900
      1.58 Acres

      Waterfront Lot with Lake Views

      Private wooded waterfront lot in Hardy, VA with lake views.
      Hickory Pl, Hardy, VA 24101
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,221 SF

      Retail and Restaurant Spaces Available

      Retail and restaurant spaces for lease in Westlake Shopping Center.
      13307-13369 Booker T Washington Hwy, Hardy, VA 24101
      View Details
    • $12 SF/Yr
      1,200 SF

      Resort Area Retail/Office Space

      In-line office, restaurant, and retail/service space for lease.
      13385-13423 Booker T Washington Hwy, Hardy, VA 24101
      View Details
    • Contact for pricing

      Renovated Retail/Office Spaces Available

      Recently renovated retail and office spaces with flexible layouts.
      13105 Booker T Washington Hwy, Hardy, VA 24101
      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.
    12800 Booker T Washington Hwy
    Hardy, VA 24101
    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.
    Sign Up Successful!
    You now have access to more from Realmo!