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    507 Nellies Cave Rd Blacksburg, VA 24060

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    507 Nellies Cave Rd Blacksburg, VA 24060

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    • Commercial real estate
    For Sale
    $399,000
    View Listing →
    Blacksburg Land with Subdivision Potential For Sale
    $399,000
    2.04 Acres

    Blacksburg Land with Subdivision Potential

    Residential land with subdivision potential, convenient to amenities and campus.

    507 Nellies Cave Road, Blacksburg, VA 24060
    View Listing
    Property ID
    US87-1469540
    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 507 Nellies Cave Rd

    Property type
    Commercial real estate

    Description

    This exceptional 350,000 USD industrial land parcel, located at 507 Nellie's Cave Road in Blacksburg, Virginia (zip code 24060), presents a compelling investment opportunity. Situated in Montgomery County, this property offers significant potential for development. The land is conveniently located near local amenities and the campus, providing easy access for employees and customers. A key advantage is the availability of public utilities, simplifying the construction process and reducing upfront costs. The property's zoning allows for subdivision, opening up possibilities for multiple development projects or strategic land sales. The latitude and longitude coordinates are 37.213242 and -80.3927645 respectively. This versatile lot is ideal for a range of industrial uses, making it an attractive prospect for developers, investors, and businesses seeking a strategic location in a thriving area. The property is classified as industrial land and is currently listed at $350,000. Further information is available upon request. This is a rare opportunity to acquire a well-situated industrial land parcel with significant development potential in a desirable location. Don't miss out on this chance to secure a prime piece of Blacksburg real estate.

    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
    Blacksburg
    County
    Montgomery
    State
    Virginia
    Longitude
    -80.3927645
    Latitude
    37.213242

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      Residential land with subdivision potential, convenient to amenities and campus.
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    Similar Nearby for Sale

    • Contact for pricing
      19,365 SF

      Blacksburg Commercial Investment Opportunity

      NNN Leases, WALT 5.67, 19365 SF Available
      2200 S Main St, Blacksburg, VA 24060
      View Details
    • $240,000
      15.12 Acres

      Blacksburg Land with Woodland

      15 acres of woodland near Blacksburg, perfect for building.
      1154 Lusters Gate Rd, Blacksburg, VA 24060
      View Details
    • $399,000
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      Blacksburg Land with Subdivision Potential

      Residential land with subdivision potential, convenient to amenities and campus.
      507 Nellies Cave Rd, Blacksburg, VA 24060
      View Details
    • $169,900
      Pending

      Residential Land in Blacksburg, VA

      Residential land for sale in Blacksburg, Virginia.
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      Blacksburg VA Land Opportunity

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      Large Land Assemblage in Blacksburg

      421+/- acres of contiguous land available in Blacksburg, Virginia.
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    View Listing
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    Blacksburg, VA 24060
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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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