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    The Largest CRE Database in the US with Over 1 Million Listings

    18775 Riverside Dr Grundy, VA 24614

    Sponsored
    For Sale
    Pending
    $249,900

    MULTI_FAMILY - Ranch - Grundy, VA

    Type:Single Family Residence
    Lot size:
    1.43 Acres
    Days on Market:
    167
    Last Refresh:
    Jan 26 at 5:06 am

    Property Features for 18775 Riverside Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Standard status
    Pending
    Zoning
    Commercial
    Rooms
    Bedroom 1, Bedroom 11, Bathroom 2, Bathroom 5, Bathroom 4, Bathroom 1, Bedroom 2, Bedroom 9, Bedroom 12, Bedroom 7, Bedroom 3, Bedroom 8, Bathroom 6, Bathroom 3, Bedroom 10, Bedroom 5, Bedroom 6, Bedroom 4
    Bedrooms
    12
    APN
    2hh184192, 2hh184193, 2hh184198 Enlg A
    Parking features
    Driveway
    Patio and Porch features
    Porch
    Fireplace
    1
    Appliances
    Built-In Electric Oven, Dryer, Electric Range, Microwave, Refrigerator, Washer
    Lot size
    1.43 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Heat Pump, Central Air
    Water source
    Public

    Building Details

    Year built
    1945
    Number of units
    4
    Flooring type
    Carpet, Laminate, Hardwood
    Building materials
    Brick, Vinyl Siding
    Roof type
    Shingle, Metal
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Lucas Rane Lockhart
    Lucas Rane Lockhart

    Park Hill Realty Group LLC (423) 530-5224

    Listing agent Lucas Lockhart (276) 492-3023 License #346877, 0225257051

    Listing date Aug 13, 2025

    MLS# 9972885 Listing URL

    Copyright © 2025 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Multi-Home Investment Opportunity in Grundy

    This property presents an investment opportunity with four homes and a former storefront situated across three parcels, totaling 1.43 acres. The location benefits from a dedicated traffic signal. The property is located between Food City and Subway. Parcel 1 includes a brick-built storefront constructed in the 1930s, previously utilized for goods and antiques, featuring 3 bedrooms and a 1/2 bath. Also on Parcel 1 is a 2-story brick home built in 1950, offering 3 bedrooms, 1 bath, and hardwood floors. Toward the back of the parcel is a doublewide built in 1988 with 3 bedrooms, 2 baths, and a wooden front porch. Parcel 2 features a brick home built in 1950, with 3 bedrooms, 1 bath, and a metal roof. This parcel also includes an additional structure ready for demolition. Parcel 3 contains a 2-story brick home with 3 bedrooms, 2 baths, and 4,300 sq ft. The storefront is ready for renovation. The properties are being sold as-is.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Restaurant Building Supply Law Firm Wholesale Shop Clothing Store Pharmacy Auto Repair Shop Auto Parts Store Spa & Massage Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grundy
    County
    Buchanan
    State
    Virginia
    Longitude
    -82.103569
    Latitude
    37.237849

    FAQs

    What type of property is this?
    Single family property - Four homes and a storefront on 1.43 acres in Grundy, VA.
    Where is this single family property located?
    The property is located at 18775 Riverside Dr Grundy, VA.
    What is the asking price?
    The asking price for this property is $249,900.
    What are key features of this property?
    This property features: - 1.43 acres with four homes and a former storefront across 3 parcels, offering diverse investment possibilities.; - Dedicated traffic signal ensures safe and convenient property access.; - Prime location between Food City and Subway enhances rental or business potential.
    (423) 343-4307
    Request Owner's contact information
    18775 Riverside Dr Grundy, VA 24614
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    Grundy, VA 24614
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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
    18775 Riverside Dr Grundy, VA 24614
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    We can help!
    Listing Contact
    Lucas Rane Lockhart
    Lucas Rane Lockhart
    (423) 343-4307
    Learn more
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