Quadplex Residential Income
For Sale
$589,900
2677 Old Richmond Road, Danville, VA 24540
Four-unit residential property with a documented 1971 construction date.
Property Size5,312 SF
Price / SF$111.05
Days on Market96
Property Features for 2677 Old Richmond Road
General Information
Standard status
Active
Size
5,312 SF
Property subtype
Multi-Family
Building Details
Year Built
1971
Listing Agency:
Gentry Commercial Re
Listed By:
Karl Miller Realty
(434) 239-2394
Source:
Karlmillerrealty
Added: Jul 13
Changed: Oct 15
Last Checked: Oct 14 at 11:03PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Gentry Commercial Re
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Investment Insights
Based on property information with market context.
This quadplex is a residential income property containing 5,312 square feet. Built in 1971, the property is located at 2677 Old Richmond Road in Danville, Virginia, 24540.
Key Highlights
- Quadplex configuration
- 5,312 square feet
- Built in 1971
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,704
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$694,080
$694.1K
Cap Rate 7%
$495,771
$495.8K
Cap Rate 9%
$385,600
$385.6K
Market Conditions
NOI Build-Up for 5,312 SF
Gross rent
$54.2K $10.20/SF
− Vacancy
−$4.6K −$0.87/SF
EGI
$49.6K $9.33/SF
− OpEx
−$14.9K −$2.80/SF
NOI
$34.7K $6.53/SF
Area
Danville County, VA
Vacancy
8.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$694,080
Cap Rate 7%
$495,771
Cap Rate 9%
$385,600
Alternative Uses
Best Use
Multifamily LT 5
$495.8K
$433.8K – $578.4K
NOI $34,704 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$463.3K
$405.4K – $540.5K
NOI $32,430 @ 7.0% cap · market cap 5.50%
Theoretical Best
Warehouse
$3.12M
$2.73M – $3.64M
NOI $218,259 @ 7.0% cap · market cap 37.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
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Business Placement
Demographics for 24540, VA
32,094
Population
15,792
Households
2
Avg Household Size
43
Median Age
17%
College-Educated
87%
High-School Grad
75.0 sq mi
ZIP Area
428
Density / Sq Mi
$47,207
Median Household Income
$34,621
Median Earnings
$828
Median Rent
$146,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential property with a documented 1971 construction date.
Where is this quadplex located?
The property is located at 2677 Old Richmond Road Danville, VA.
What is the asking price?
The asking price for this property is $589,900.
What are key features of this property?
This property features: Quadplex configuration; 5,312 square feet; Built in 1971
