Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Naked Creek Rd Elkton, VA 22827
    Back to Search
    Property profile & analytics

    Naked Creek Rd, Elkton, VA 22827

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

    Current Use by Public Records

    • Land

    Property Details for 0 Naked Creek Rd

    Lot size
    152.08 lot acres
    Property type
    Land
    Property subtype
    Farms

    Description

    This exceptional 152.08-acre property in Page County, Virginia, presents a unique investment opportunity. Located northeast of Elkton, near the Furnace area, this land boasts diverse terrain including a creek bottom, a large hay field, and extensive wooded acreage extending to the summit of Grindstone Mountain. Enjoy breathtaking panoramic views of the surrounding mountains and countryside from the hay field and higher elevations, with potential for enhanced views through selective tree clearing. The property features approximately 650 feet of frontage on Naked Creek and paved Naked Creek Road, providing convenient access. Existing electricity is on-site, and other utilities are readily accessible, minimizing connection costs. Currently utilized for hay production and ATV riding, the land is ideally suited for a primary residence, vacation home, or recreational retreat. Abundant recreational opportunities abound, including hiking, fishing, camping, and various outdoor activities. The property is a haven for wildlife, attracting deer, turkey, bear, and other small game, making it an excellent hunting location. An established network of internal trails ensures easy access to most areas. Currently enrolled in the county's agricultural and forestry land use program, resulting in significantly reduced annual taxes. Conveniently located a short drive from Harrisonburg's amenities and attractions, and minutes from the Blue Ridge Parkway and Shenandoah National Park. APN: 110-1-B & 110-A-16. Zoned Agricultural. Asking price: $665,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Elkton
    County
    Page
    State
    Virginia
    Longitude
    -78.5878
    Latitude
    38.455

    Comparable in this City

    • Value Estimation by Request
      40.41 Acres

      1670 River Rd

      Farms
      1670 River Rd, Elkton, VA 22827
      View Details
    • Value Estimation by Request
      6.67 Acres

      Overlook Mountain Rd

      Land
      0 Overlook Mountain Rd, Elkton, VA 22827
      View Details
    • Value Estimation by Request
      53.83 Acres

      Miracle Springs Rd

      Land
      0 Miracle Springs Rd, Elkton, VA 22827
      View Details
    • Value Estimation by Request
      0.76 Acres

      938 Shenandoah Ave

      Land
      938 Shenandoah Ave, Elkton, VA 22827
      View Details
    • Value Estimation by Request
      3.19 Acres

      Tbd Florist Rd

      Land
      0 Tbd Florist Rd, Elkton, VA 22827
      View Details
    • Value Estimation by Request
      6.67 Acres

      Tbd Overlook Mtn Rd

      Land
      0 Tbd Overlook Mtn Rd, Elkton, VA 22827
      View Details

    Similar Nearby for Sale

    • $119,000
      6.50 Acres

      6.5 Acres Agricultural Building Site

      6.5-acre building site with Massanutten Range views and creek.
      Tbd Michael Ln, Elkton, VA 22827
      View Details
    • New
      $449,000
      51.20 Acres

      51.2 Acres of Vacant Land

      51.2 acres of agricultural land with creek frontage.
      Loop Rd, Elkton, VA 22827
      View Details
    • $249,900
      3.73 Acres

      Prime Land in Elkton, Virginia

      3.7 acre parcel near Route 33, ideal for development.
      NE Spotswood Trl, Elkton, VA 22827
      View Details
    • $725,000
      1.83 Acres

      Elkton Mobile Home Park Opportunity

      19-lot mobile home park with cash flow and growth potential.
      605 Celdons Ln, Elkton, VA 22827
      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.
    Naked Creek Rd
    Elkton, VA 22827
    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
    Naked Creek Rd, Elkton, VA, 22827
    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!