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    325 Union Run Lexington, VA 24450

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    Serene 10-acre estate near Lexington, perfect for hospitality ventures.

    Type:Hospitality
    Property size:
    6,336 SF
    Lot size:
    10.00 Acres
    Price / SF:
    $157/SF
    Added:
    Apr 8, 2024
    Days on Market:
    745
    Last Refresh:
    Mar 17 at 1:25 pm

    Property Features for 325 Union Run

    General Information

    Standard status
    Active
    Size
    6,336 SF
    Lot size
    10.00 Acres
    Property subtype
    Hospitality

    Building Details

    Year Built
    1883

    We can help!

    Listing Contact
    Matthias John

    Listing agent Matthias John License #VA 0225250006

    Listing office Wiley Real Estate-Charlottesvi

    Listing date Apr 8, 2024

    Source Crexi

    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 Wiley Real Estate-Charlottesvi

    Overview

    Historic Shenandoah Valley Bed & Breakfast

    Shenandoah Manor is a historic bed and breakfast located near downtown Lexington in the Shenandoah Valley. Situated on 10 acres featuring rolling meadows, a pond, and a creek, the property is suitable for a hospitality business. Modern amenities include fiber internet and reliable cell service. The main house includes three guest rooms, each with private bathrooms and balconies, as well as expansive owners' quarters, two studio spaces, a library/music room, and a kitchen. A separate guest house offers five additional guest rooms with private bathrooms, a kitchenette, and a living room. A stone patio connects both houses, providing an outdoor setting for gatherings, complete with a campfire area. The estate is suited for ventures such as vineyards, wedding venues, and events, featuring a flat area for tents and a gazebo by the pond. Ample parking is available. The property is suitable for retreats, including yoga, wellness, corporate, or artistic retreats. Furnishings are available for purchase. The property is being operated as an art retreat business and includes a client database, website, and online reviews. Improvements are underway on the septic system and attic. The property size is 6336 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bed & breakfasts

    Map

    City
    Lexington
    County
    Lexington
    State
    Virginia
    Longitude
    -79.497888
    Latitude
    37.7631385

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    FAQs

    What type of property is this?
    Bed & breakfast - Serene 10-acre estate near Lexington, perfect for hospitality ventures.
    Where is this bed & breakfast located?
    The property is located at 325 Union Run Lexington, VA.
    What is the asking price?
    The asking price for this property is $998,900.
    What are key features of this property?
    This property features: Established, successful art retreat business with financials, website, client database, and positive reviews included in sale.; Prime location near downtown Lexington in the desirable Shenandoah Valley.; Turnkey Bed & Breakfast/retreat venue with **8 guest rooms, each with private bathrooms**, spread across the main house and guest house.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Matthias John
    Real Estate License ID: VA 0225250006
    Learn More
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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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