6-Unit Townhome-Style Apartment
New
For Sale
$1,695,000
105 TEE Street, Blacksburg, VA 24060
Multifamily, Townhouse, Blacksburg, VA
Property Size6,048 SF
Lot Size0.36 Acres
Price / SF$280.26
Days on Market2
Property Features for 105 TEE Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Zoning
Residential 5
Parking features
Off Street
Elementary school
Harding Av
Middle school
Blacksburg
High school
Blacksburg
Elementary school district
Montgomery County
Middle school district
Montgomery County
High school district
Montgomery County
Directions
From North Main Street, turn onto Patrick Henry Drive. Turn left onto Giles Road, then left onto Tee Street. The property will be on the left at 105 Tee Street.
Subdivision
Blacksburg (In Town Limits)
Standard status
Active
Size
6,048 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
WALTER K SMITH MAP LOTS 10,11
Tax Annual Amount
3477
Legal Description
WALTER K SMITH MAP LOTS 10,11
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Electric, Central Air
Building Details
Floors in Building
2
Number of units
6
Flooring type
Lvp
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX 8 - Blacksburg · RE/MAX International
(540) 552-8855
Listed By:
Brian McHone · License #0225077871
(540) 239-5901
Added: Sep 26
Last Checked: Sep 27 at 12:06PM
MLS# 428793
Copyright © 2026 New River Valley Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This six-unit apartment property contains five three-bedroom townhome-style residences and one one-bedroom apartment, with 6,048 square feet of building area on a 0.36-acre parcel. Residential 5 zoning applies. Improvements include off-street parking, LVP flooring, heat pumps, central air, and a shingle roof.
A 2025 renovation brought new kitchen cabinets, granite counters, stainless steel appliances, updated showers and vanities, LED lighting, laminate flooring, interior doors, hardware, fixtures, and paint. Unit F received a separate full renovation in 2022. The property is in Blacksburg near the BT bus line and Virginia Tech.
A 2025 renovation brought new kitchen cabinets, granite counters, stainless steel appliances, updated showers and vanities, LED lighting, laminate flooring, interior doors, hardware, fixtures, and paint. Unit F received a separate full renovation in 2022. The property is in Blacksburg near the BT bus line and Virginia Tech.
Key Highlights
- Six apartments: five three‑bedroom townhome‑style units and one one‑bedroom apartment
- 6,048 square feet on a 0.36‑acre parcel
- 2025 renovation included granite countertops, stainless steel appliances, LED lighting, updated baths, flooring, doors, fixtures, and paint
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$76,061
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,521,220
$1.5M
Cap Rate 7%
$1,086,586
$1.1M
Cap Rate 9%
$845,122
$845.1K
Market Conditions
NOI Build-Up for 6,048 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$149.5K $24.72/SF
− Vacancy
−$11.2K −$1.85/SF
EGI
$138.3K $22.87/SF
− OpEx
−$62.2K −$10.29/SF
NOI
$76.1K $12.58/SF
Area
Montgomery County, VA
Vacancy
7.50%
Lease Rate
$24.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,521,220
Cap Rate 7%
$1,086,586
Cap Rate 9%
$845,122
Alternative Uses
Best Use
Apartment 5plus
$1.09M
$950.8K – $1.27M
NOI $76,061 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$1.43M
$1.25M – $1.67M
NOI $100,189 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
261
Businesses Nearby
Explore this area
Business Placement
Demographics for 24060, VA
46,755
Population
22,797
Households
2.1
Avg Household Size
28
Median Age
63%
College-Educated
98%
High-School Grad
130.8 sq mi
ZIP Area
357
Density / Sq Mi
$63,496
Median Household Income
$31,827
Median Earnings
$1,266
Median Rent
$412,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated interiors combine five three-bedroom townhome-style units with a one-bedroom apartment.
Where is this apartment building located?
The property is located at 105 TEE Street Blacksburg, VA.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Six apartments: five three‑bedroom townhome‑style units and one one‑bedroom apartment; 6,048 square feet on a 0.36‑acre parcel; 2025 renovation included granite countertops, stainless steel appliances, LED lighting, updated baths, flooring, doors, fixtures, and paint
