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New Construction Homes in Penhook, VA

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  • /26

    $699,000 Lot/Land

    LOT 474 Southwood Dr, Penhook, VA 24137

    • 1.91 Acres
    • $365,969 per Acre

    This beautiful waterfront lot on Smith Mountain Lake has it all! Almost 2 acres, view of Smith Mountain, adjoining 4 acres of open space, two locations for drainfields that will accommodate a seven bedroom house, part open and part wooded, and located in the prestigious Water's Edge Golf Course & Country Club community with an active membership.

    Agent Photo

    Debbie Shelton

    BERKSHIRE HATHAWAY HOMESERVICES SMITH MOUNTAIN LAKE REAL ESTATE

    LOT 474 Southwood Dr, Penhook, VA 24137
  • /3

    $25,000 Lot/Land

    Lot 218A Hunterwood Cir, Penhook, VA 24137

    • 33,976 Sq Ft
    • $32,051 per Acre

    Discover the perfect setting for your dream home in this beautiful wooded cul-de-sac lot nestled within a prestigious country club golf community. Offering exceptional privacy along with scenic views of the golf driving range and clubhouse, this homesite combines peaceful surroundings with an unbeatable location. Enjoy an easy stroll to the clubhouse and an incredible lifestyle filled with

    Agent Photo

    Dana Montgomery

    BERKSHIRE HATHAWAY HOMESERVICES SMITH MOUNTAIN LAKE REAL ESTATE

    Lot 218A Hunterwood Cir, Penhook, VA 24137
  • /2

    $35,000 Lot/Land

    Lot 405 Mountain Shore Dr, Penhook, VA 24137

    • 26,136 Sq Ft
    • $58,333 per Acre

    Wooded building lot within walking distance to The Waters Edge Country Club. Water access. Club amenities include golf, tennis, pickleball, swimming, exercise and equestrian center.

    Agent Photo

    Adam Lynch

    BERKSHIRE HATHAWAY HOMESERVICES SMITH MOUNTAIN LAKE REAL ESTATE

    Lot 405 Mountain Shore Dr, Penhook, VA 24137
  • /14

    $49,900 Lot/Land

    LOT 377 Morgans Mill Dr, Penhook, VA 24137

    • 31,798 Sq Ft
    • $68,356 per Acre

    Beautiful wooded lot with water access to Smith Mountain Lake. Located in one of the most desirable neighborhoods, The Water's Edge Golf Course and Country Club with an active membership. Sellers have the plans for a Lindal Cedar home that would complement the property nicely!

    Agent Photo

    Debbie Shelton

    BERKSHIRE HATHAWAY HOMESERVICES SMITH MOUNTAIN LAKE REAL ESTATE

    LOT 377 Morgans Mill Dr, Penhook, VA 24137
  • /3

    $199,900 Lot/Land

    LOT 454 E Pointe Dr, Penhook, VA 24137

    • 33,541 Sq Ft
    • $259,610 per Acre

    Wooded waterfront lot on Smith Mountain Lake. Located in the beautiful and prestigious community of The Water's Edge Golf Course and Country Club. Build your dream home in this quiet cove and enjoy all the amenities of the neighborhood. AEP approved dock permit attached under documents. Active club membership.

    Agent Photo

    Debbie Shelton

    BERKSHIRE HATHAWAY HOMESERVICES SMITH MOUNTAIN LAKE REAL ESTATE

    LOT 454 E Pointe Dr, Penhook, VA 24137
  • /11

    $99,900 Lot/Land

    LOT 29 Waters Edge Dr, Penhook, VA 24137

    • 21,780 Sq Ft
    • $199,800 per Acre

    Rare find with water views from every direction on this level, water access lot at Smith Mountain Lake. Located in the beautiful community of The Water's Edge Golf Course and Country club with an active membership.

    Agent Photo

    Debbie Shelton

    BERKSHIRE HATHAWAY HOMESERVICES SMITH MOUNTAIN LAKE REAL ESTATE

    LOT 29 Waters Edge Dr, Penhook, VA 24137
  • /13

    $59,900 Lot/Land

    Lot 96 Sandwedge Cir, Penhook, VA 24137

    • 18,295 Sq Ft
    • $142,619 per Acre

    Beautiful partially wooded golf course lot with views of the 16th green and fairway. Also views of mountains including Smith Mountain. Convenient location with a short walk to the clubhouse (pool, tennis, fitness center, restaurant).

    Agent Photo

    Debbie Shelton

    BERKSHIRE HATHAWAY HOMESERVICES SMITH MOUNTAIN LAKE REAL ESTATE

    Lot 96 Sandwedge Cir, Penhook, VA 24137
  • /11

    $20,000 Lot/Land

    LOT 273 Niblicks Cir, Penhook, VA 24137

    • 23,522 Sq Ft
    • $37,037 per Acre

    Great wooded building lot in The Waters Edge CC community. Located on a quiet cul-de-sac with a short walk to the country club. The club is now a part of McConnell Golf family of clubs (15). Amenities include Golf (the course is in incredible shape), Tennis (club has a tennis pro that pairs player up on Mon/Wed/Fri), Pickleball, Pool, Fitness Room, Banquet Facilities, Dining and Equestrian

    Agent Photo

    Debbie Shelton

    BERKSHIRE HATHAWAY HOMESERVICES SMITH MOUNTAIN LAKE REAL ESTATE

    LOT 273 Niblicks Cir, Penhook, VA 24137
  • /19

    $35,000 Lot/Land

    Lot 383 Mountain Shore Dr, Penhook, VA 24137

    • 31,798 Sq Ft
    • $47,945 per Acre

    Approximately 3/4 acre flat lot in The Waters Edge Country Club Community. Great location with just a short walk to club, restaurant, golf, pool, tennis and equestrian center. Active club membership.

    Agent Photo

    Debbie Shelton

    BERKSHIRE HATHAWAY HOMESERVICES SMITH MOUNTAIN LAKE REAL ESTATE

    Lot 383 Mountain Shore Dr, Penhook, VA 24137
  • /18

    $229,000 Lot/Land

    LOT 236 Marina Bay Dr, Penhook, VA 24137

    • 27,878 Sq Ft
    • $357,812 per Acre

    Rare find in The Water's Edge Golf & Country Club! This beautiful water-access lot offers the best position and includes Deeded Boat Slip #1 in the Marina Bay community dock with deep water and just a short walk away. Enjoy all the premier amenities: championship golf, clubhouse, pool, tennis, fitness, dining, and Smith Mountain Lake's pristine beauty. Build your dream lake house and start

    Agent Photo

    Debbie Shelton

    BERKSHIRE HATHAWAY HOMESERVICES SMITH MOUNTAIN LAKE REAL ESTATE

    LOT 236 Marina Bay Dr, Penhook, VA 24137
  • /140

    $1,159,000 Custom Home

    31 Flagstick Ct, Penhook, VA 24137

    • 4 Beds
    • 4 Baths
    • 2,803 Sq Ft

    Experience elevated modern luxury in this fully furnished Model Home, perfectly situated on a quiet cul-de-sac within the prestigious Water's Edge Country Club at Smith Mountain Lake. This brand-new, approximately 2,800 sq ft residence captures sweeping fairway views and offers effortless main-level living enhanced by sophisticated design and next-generation technology. Built by Sole Source

    Courtney Greco EXP REALTY, LLC - UNION HALL

    31 Flagstick Ct, Penhook, VA 24137
  • /55

    $2,495,000 Custom Home

    200 Sweetwater Bay Dr, Penhook, VA 24137

    • 9 Beds
    • 6 Baths
    • 3,941 Sq Ft

    WATERFRONT LUXURY IN ONE OF SMITH MOUNTAIN LAKE'S MOST SOUGHT-AFTER LOCATIONS - SHORT-TERM RENTABLE! Experience the pinnacle of lakefront living in this exceptional newly constructed waterfront retreat, perfectly located on a flat lot with crystal-clear water, expansive shoreline views, and outstanding rental potential. Projected to generate over $350,000 annually in rental income, this property

    Kendra Porter VIRGINIA REALTY GROUP

    200 Sweetwater Bay Dr, Penhook, VA 24137
  • /302

    $3,650,000 Custom Home

    2650 Waters Edge Dr, Penhook, VA 24137

    • 6 Beds
    • 6 Baths
    • 6,654 Sq Ft

    Welcome to 2650 Water's Edge Drive - A Waterfront Luxury RetreatThis stunning 6-bedroom, 6-bath lakefront home offers 6,654 finished square feet of elegant living with an open floor plan designed for comfort and entertaining. Thoughtfully crafted with high-end finishes, this residence combines timeless craftsmanship with modern convenience. Enjoy the rare luxury of three spacious master

    Jane Sullivan Horne BERKSHIRE HATHAWAY HOMESERVICES SMITH MOUNTAIN LAKE REAL ESTATE

    2650 Waters Edge Dr, Penhook, VA 24137
  • /26

    $30,000 Lot/Land

    Talon Ridge Rd Lot: 170, Penhook, VA 24137

    • 1.36 Acres
    • $22,059 per Acre

    Nice Waterfront lot with 1.36 acres in beautiful Eagle Pointe Shores on Leesville Lake. Eagle Pointe Shores provides amenities to include hiking trails, picnic areas, pavilion, and deeded access to the neighborhood boat ramp. Enjoy the convenience of 2 lakes, Leesville Lake and within minutes to Smith Mountain Lake.Copyright © 2026 Roanoke Valley Association of Realtors. All rights

    Charlene Jones RE/MAX LAKEFRONT REALTY INC

    Talon Ridge Rd Lot: 170, Penhook, VA 24137
  • /8

    $1,100,000 Lot/Land

    6613 Truevine Rd, Penhook, VA 24148

    • 522 Acres
    • $2,107 per Acre

    Come see the Magnificent Views of Smith Mtn, Peaks of Otter and the Blue Ridge mountains from these 522 acres. The property has intensely managed loblolly pines stands for future income. There is long frontage along the Pig River. Perfect for fishing, kayaking, and canoeing. The property has road frontage on two roads. This provides great access to the river as well. There is abundant Deer,

    Jeff Davis JEFF DAVIS & ASSOCIATES, LLC

    6613 Truevine Rd, Penhook, VA 24148
  • /31

    $649,900 Lot/Land

    Lot 4 Sweetwater Bay Dr, Penhook, VA 24137

    • 1.15 Acres
    • $565,130 per Acre

    Discover an extraordinary opportunity to build your custom lakefront estate in The Sanctuary at Smith Mountain Lake. Private and serene, this exceptional estate lot in the Sanctuary Bay section is ideally positioned near the end of a quiet cul-de-sac and spans over one acre. Featuring breathtaking protected views, deep-water frontage with room for an expansive dock, and unparalleled privacy near

    Courtney Greco EXP REALTY, LLC - UNION HALL

    Lot 4 Sweetwater Bay Dr, Penhook, VA 24137
  • /8

    $749,500 Lot/Land

    13A-1 Waters Edge Dr, Penhook, VA 24137

    • 7.79 Acres
    • $96,213 per Acre

    Golf views, lake views, privacy, and a covered boat slip! This is one of only 3 properties within The Water's Edge community that allows both a main house and a guest house. Water access with a deeded covered boat slip in the nearby community marina, this is a rare acreage parcel at The Water's Edge AND the $35k initiation fee to TWE CC is waived, buyer to join within 30 days of closing.

    Cathie Daniel BERKSHIRE HATHAWAY HOMESERVICES SMITH MOUNTAIN LAKE REAL ESTATE

    13A-1 Waters Edge Dr, Penhook, VA 24137
  • /8

    $35,000 Lot/Land

    Lot 298 Upland Shores Dr, Penhook, VA 24137

    • 20,473 Sq Ft
    • $74,468 per Acre

    An exceptional opportunity to build your dream residence on a beautifully wooded, gently sloping lot graced with mature hardwoods. This premier homesite offers privacy, natural beauty, and access to an exclusive active Waters Edge membership-available to purchasers for $35K within 30 days of closing. Residents enjoy an impressive array of amenities, including golf, tennis/pickleball, Jr. olympic

    Vicki Millehan BERKSHIRE HATHAWAY HOMESERVICES SMITH MOUNTAIN LAKE REAL ESTATE

    Lot 298 Upland Shores Dr, Penhook, VA 24137
  • /17

    $850,000 Lot/Land

    00 Old Fire Tower Ln, Penhook, VA 24137

    • 322 Acres
    • $2,640 per Acre

    +/- 322 acres of intensely managed timber land. The property has a rocky, flowing stream all year long, providing water for the abundant wildlife and water sounds for peace and serenity. There are Oaks along the stream to provide food for the plentiful deer, turkey and bear. Adjoins Turkey Cock Mtn wildlife preserve. BIG VIEWS!!!

    Jeff Davis JEFF DAVIS & ASSOCIATES, LLC

    00 Old Fire Tower Ln, Penhook, VA 24137
  • /2

    $129,900 Lot/Land

    LOT 126 Lands End Rd, Penhook, VA 24137

    • 21,780 Sq Ft
    • $259,800 per Acre

    Beautiful Flat Lot with Smith Mountain Lake Views. Located in Private Golf Community ( The Waters Edge ). Active Club Membership. Purchaser to Pay Club Initiation Fee. Owner/Realtor.

    Erik Plyler WATERMARK REALTY LLC

    LOT 126 Lands End Rd, Penhook, VA 24137
  • /6

    $95,000 Lot/Land

    Lot 113 Cross Harbour Dr, Penhook, VA 24137

    • 23,958 Sq Ft
    • $172,727 per Acre

    The Waters Edge - Enjoy building your beautiful home on the homesite over looking #14 fairway with seasonal views of the water. Septic and water hook up fees are the responsibility of the Purchasers.

    Vicki Millehan BERKSHIRE HATHAWAY HOMESERVICES SMITH MOUNTAIN LAKE REAL ESTATE

    Lot 113 Cross Harbour Dr, Penhook, VA 24137
  • /7

    $59,000 Lot/Land

    Lot 155 Cross Harbor Dr, Penhook, VA 24137

    • 33,541 Sq Ft
    • $76,623 per Acre

    This beautiful corner lot in The Waters Edge offers a tempting opportunity, boasting not only generous size (.77 acres) but also seasonal views of both the golf course and the water. Its proximity to the community Clubhouse is another perk, suggesting easy access to amenities. See agent for details. Water hook-up fees and drain field installation is the responsibility of the Purchasers.

    Vicki Millehan BERKSHIRE HATHAWAY HOMESERVICES SMITH MOUNTAIN LAKE REAL ESTATE

    Lot 155 Cross Harbor Dr, Penhook, VA 24137
  • /13

    $32,000 Lot/Land

    Lot 297 Morgans Mill Dr, Penhook, VA 24137

    • 27,442 Sq Ft
    • $50,794 per Acre

    Great opportunity in The Water's Edge, one of the most desirable communities on Smith Mountain Lake! Easy-to-build, water-access lot with beautiful surroundings. Club membership is not included. Membership would provide access to a private 18-hole championship golf course, pool, tennis, pickleball, fitness center, and luxury dining. Experience the perfect blend of recreation, relaxation, and

    Alla Scott COLDWELL BANKER TOWNSIDE, REALTORS(r)

    Lot 297 Morgans Mill Dr, Penhook, VA 24137
  • /13

    $87,000 Lot/Land

    LOT 473 Southwood Dr, Penhook, VA 24137

    • 1.05 Acres
    • $82,857 per Acre

    The Waters Edge-This beautiful homesite is perfectly positioned along peaceful greenspace with stunning views of the #3 green and fairway. Enjoy spectacular sunsets from your future home in one of the community's most desirable settings. Septic system installation and water hook-up fees are the responsibility of the purchasers. Come experience all that this exceptional community has to offer.

    Vicki Millehan BERKSHIRE HATHAWAY HOMESERVICES SMITH MOUNTAIN LAKE REAL ESTATE

    LOT 473 Southwood Dr, Penhook, VA 24137
  • /8

    $1,100,000 Lot/Land

    6613 Truevine Rd, Penhook, VA 24148

    • 522 Acres
    • $2,107 per Acre

    Come see the Magnificent Views of Smith Mtn, Peaks of Otter and the Blue Ridge mountains from these 522 acres. The property has intensely managed loblolly pines stands for future income. There is long frontage along the Pig River. Perfect for fishing, kayaking, and canoeing. The property has road frontage on two roads. This provides great access to the river as well. There is abundant Deer,

    Jeff Davis JEFF DAVIS & ASSOCIATES, LLC

    6613 Truevine Rd, Penhook, VA 24148
  • /27

    $30,000 Lot/Land

    Lot 170 Talon Ridge Ct, Penhook, VA 24139

    • 1.36 Acres
    • $22,059 per Acre

    Nice Waterfront lot with 1.36 acres in beautiful Eagle Pointe Shores on Leesville Lake. Eagle Pointe Shores provides amenities to include hiking trails, picnic areas, pavilion, and deeded access to the neighborhood boat ramp. Enjoy the convenience of 2 lakes, Leesville Lake and within minutes to Smith Mountain Lake.

    Charlene Jones RE/MAX LAKEFRONT REALTY INC

    Lot 170 Talon Ridge Ct, Penhook, VA 24139
  • /3

    $1,800,000 Lot/Land

    31 Mountain Glen Dr, Penhook, VA 24137

    • 24,829 Sq Ft
    • $3,157,895 per Acre

    THE PINNACLE OF PREMIER SMITH MOUNTAIN LAKE PROPERTY WITH UNOBSTRUCTED VIEWS OF SMITH MOUNTAIN. IF YOU ARE LOOKING FOR THE MOST PRESTIGIOUS ADDRESS AT SMITH MOUNTAIN LAKE THIS IS IT! New Dock and Rip Rap on Shoreline Installed.

    Erik Plyler WATERMARK REALTY LLC

    31 Mountain Glen Dr, Penhook, VA 24137
  • /6

    $499,900 Lot/Land

    0 Morgans Mill Dr Unit 806383, Penhook, VA 24137

    • 41,382 Sq Ft
    • $526,211 per Acre

    Active club membership ($35K fee to join club, paid by purchaser). Dock ( See attached dock plans, and photos) featuring Azek Composite Decking, Storage Building, and Floating Dock., zoned RPDOwner/Realtor.buyer responsible for installing septic and water hook-up

    Erik Plyler WATERMARK REALTY LLC

    0 Morgans Mill Dr Unit 806383, Penhook, VA 24137
  • /14

    $32,500 Lot/Land

    Lot 232 Lake Front Cir, Penhook, VA 24137

    • 22,651 Sq Ft
    • $62,500 per Acre

    Wonderful private culdesac lot in walking distance to Club House, golf, pool, tennis court and equestrian center. You'll find mature trees just waiting to have your house laid out. Come enjoy paradise at Waters Edge, a premier golfing community on the beautiful Smith Mountain Lake. This lot also has an active membership! Water access fees and septic are responsibility of purchaser.

    Amy Smitherman LONG & FOSTER - SMITH MTN LAKE

    Lot 232 Lake Front Cir, Penhook, VA 24137
  • /10

    $80,000 Lot/Land

    Lot 12 Birdie Ln, Penhook, VA 24137

    • 17,859 Sq Ft
    • $195,122 per Acre

    The Waters Edge-This captivating corner lot boasts an impressive .41 acres with breathtaking views of sparkling waters and Smith Mountain views. The level terrain provides a solid foundation for your future home. With a community water system readily available, you'll benefit from the convenience of public water access. However, please note that the purchaser will be responsible for the septic

    Vicki Millehan BERKSHIRE HATHAWAY HOMESERVICES SMITH MOUNTAIN LAKE REAL ESTATE

    Lot 12 Birdie Ln, Penhook, VA 24137
  • /38

    $214,950 Lot/Land

    Lot 1 Sweetwater Bay Dr, Penhook, VA 24137

    • 22,651 Sq Ft
    • $413,365 per Acre

    Are you wanting to build a new home? How about one on Smith Mountain Lake? If you are ready to make this a reality and at an affordable price, look no more. This deep water waterfront lot is ready to build on with water hook up fee already paid and approved for a 3 bedroom septic. Nicely wooded and just over a half acre! All information is deemed reliable but not guaranteed and should be verified.

    Christy Crouch RE/MAX ALL POINTS

    Lot 1 Sweetwater Bay Dr, Penhook, VA 24137
  • /13

    $699,900 Lot/Land

    LOT 23 Mountain Vista Dr, Penhook, VA 24137

    • 2.35 Acres
    • $297,830 per Acre

    GREAT ACREAGE LOT IN UPSCALE RESIDENTIAL NEIGHBORHOOD. CLOSE TO THE WATERS EDGE GOLF AND COUNTRY CLUB, CLEAN DEEP WATER, AT THE BASE OF SMITH MOUNTAIN! THIS IS WHAT YOU ARE AT THE LAKE FOR! 3 BR SEPTIC APPROVED. REALTORS ARE REALTED TO OWNERS AND OWNERS ARE REALTORS. New 2 Boat Slip Dock, Storage Building, Floating Dock, Azek PVC Decking Completed 12-19-24 ( See Attached Photo and Dock Plans ).

    Sheila Plyler WATERMARK REALTY LLC

    LOT 23 Mountain Vista Dr, Penhook, VA 24137
  • /14

    $415,000 Lot/Land

    Lot 341 Low Country Dr, Penhook, VA 24137

    • 15,246 Sq Ft
    • $1,185,714 per Acre

    The Waters Edge-Don't miss this chance to secure one of the last remaining waterfront homesites in the beautiful community of The Waters Edge. Enjoy the perfect balance of serenity and accessibility with a gentle slope leading to a nice cove. This prime location offers excellent protection from the main channel while providing spectacular sunrise views and comfortable afternoon shade. Active Club

    Vicki Millehan BERKSHIRE HATHAWAY HOMESERVICES SMITH MOUNTAIN LAKE REAL ESTATE

    Lot 341 Low Country Dr, Penhook, VA 24137
  • /36

    $425,000 Lot/Land

    00 Old Fire Tower Ln, Penhook, VA 24137

    • 0 Sq Ft

    275+/- acres of intensely managed timber land. The property has a rocky, flowing stream all year long, providing water for the abundant wildlife and water sounds for peace and serenity. There are Oaks along the stream to provide food for the plentiful deer, turkey and bear. Adjoins Turkey Cock Mtn wildlife preserve. BIG VIEWS!!!

    Jeff Davis JEFF DAVIS & ASSOCIATES, LLC

    00 Old Fire Tower Ln, Penhook, VA 24137
  • /17

    $60,000 Lot/Land

    TBD Old Franklin Turnpike Unit 4, Penhook, VA 24137

    • 5.1 Acres
    • $11,765 per Acre

    Looking for land? This perfect 5-acre tract is zoned agricultural and could not be more conveniently located. It fronts Route 40 in Penhook, Virginia a short commute from Roanoke and Smith Mountain Lake. The land is wooded and lays very well for your home to be built, hunting camp, doublewide, or recreational getaway. No building restrictions! Owner can finance on easy terms and no credit check.

    Robert Thomas Terramark Realty LLC

    TBD Old Franklin Turnpike Unit 4, Penhook, VA 24137

Frequently Asked Questions

What warranties come with a new construction home?
Most Builders provide a 1-year workmanship warranty, a 2-year systems warranty, and a 10-year structural warranty.
What upgrades are included in a new build vs what is considered extras?
Builders in Penhook, VA usually offer a base package and optional upgrades such as flooring, countertops, and appliances.
Do new construction homes in Penhook, VA hold their value?
Yes, especially in fast-growing areas of Penhook, VA. Resale values are supported by population growth, job opportunities, and desirable schools.
What happens if I find issues after moving in to new build?
Builders typically provide a post-move in warranty service to address punch list items.
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