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    1323 Hardy Rd Vinton, VA 24179
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    1323 Hardy Rd Vinton, VA 24179

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    • Commercial real estate
    • 4.29 lot acres
    For Sale
    $199,950
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    Vinton Land for Development For Sale
    $199,950
    4.29 Acres

    Vinton Land for Development

    4.29 acres of land prime for development.

    1323 Hardy Rd, Vinton, VA
    View Listing
    Property ID
    US87-1154335
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1323 Hardy Rd

    Lot size
    4.29 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 4.29-acre commercial development site is ideally located at 1323 Hardy Road in Vinton, Virginia, zip code 24179. Priced at $199,950, this property offers significant potential for a variety of uses. The land boasts a gently sloping topography and is mostly wooded. Public water and sewer services are readily available. Zoned RB - Residential Business, the property allows for a range of development options, including offices, medical and dental clinics, banks, and single-family dwellings. Special exceptions permit townhouses and funeral homes. The site's strategic location on the four-lane section of Hardy Road, just east of the intersection with Route 24, ensures high visibility and accessibility. The land value is $1.07 per square foot. This area is experiencing growth and increasing land values, making this a compelling investment opportunity. The property's size also allows for potential subdivision, offering further flexibility for developers. This is a rare opportunity to acquire a well-situated, versatile commercial parcel in a thriving area of Vinton. Contact us today to learn more about this exceptional development opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Vinton
    County
    Roanoke
    State
    Virginia
    Longitude
    -79.875523
    Latitude
    37.27203

    Comparable in this City

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      1.03 acre lot in lake access community near Roanoke.
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      1.16 acre lot in River Rock community near Roanoke.
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      Residential Land in Vinton, VA

      Wooded lot for building a dream home in Vinton.
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    Similar Nearby for Sale

    • $55,000
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      Wooded Lots in East Roanoke

      Residential land for sale in Vinton, Virginia.
      Vinton, VA 24179
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    • $247,500

      Commercial Land in Vinton, VA

      1.47-acre commercial land, highly visible, convenient location in Vinton, VA.
      137 S Preston Rd, Vinton, VA 24179
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    • $379,950
      20,037 SF

      Commercial Lot Near Vinton Town

      Commercial lot within walking distance to Vinton municipal building.
      44 West Cleveland Ave, Vinton, VA 24179
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    • $55,000
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      Vinton, VA Land For Sale

      1.03 acre lot in lake access community near Roanoke.
      River Rock Rd, Vinton, VA 24179
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    • $50,000
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      Land in Quiet Lake Community

      1.16 acre lot in River Rock community near Roanoke.
      River Rock Rd, Vinton, VA 24179
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    • $49,500
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      Residential Land in Vinton, VA

      Wooded lot for building a dream home in Vinton.
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      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Near Food Lion

      8,640 SF retail space with high visibility.
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      1,540 SF

      Retail Space in Vinton Center

      Retail space available within a Kroger-anchored shopping center.
      903-915 Hardy Rd, Vinton, VA 24179
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      Retail Space on Route 24

      Retail space for lease with high visibility and ample parking.
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      8,640 SF

      Retail Space Near Food Lion

      8,640 SF retail space with high visibility.
      1922-1952 E Washington Ave, Vinton, VA 24179
      View Details
    View Listing
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    Vinton, VA 24179
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    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
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