Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    81 Terry Ct Collinsville, VA 24078

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Multifamily property with 97 units near Roanoke MSA.

    Property size:
    83,940 SF
    Lot size:
    4.08 Acres

    Property Features for 81 Terry Ct

    General Information

    Standard status
    Active
    Zoning
    SR-Residential
    Size
    83,940 SF
    Lot size
    4.08 Acres

    Building Details

    Year built
    1973

    We can help!

    Listing Contact
    Nick Gonzalez
    Nick Gonzalez
    Source: Crexi

    Listing Agency: Linville Team Partners Listing Agent: Nick Gonzalez

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    97-Unit Multifamily Investment Opportunity

    This property presents a stable investment opportunity, located approximately one hour from the Roanoke MSA. It features 97 units with layouts ranging from one to three bedrooms, addressing the housing demand in Collinsville, VA. The property comprises eight buildings, and includes common laundry facilities, a playground, and a swimming pool. A three-bedroom home is also located on-site, currently serving as both a residential rental and an on-site property management office. Additional office and storage structures are present, along with a surplus parking lot that could accommodate a future amenity or expansion. Historically, the property has maintained low vacancy rates, providing immediate yield with potential for increased rents through unit remodels. The property size is 83,940 square feet.
    Location Intelligence

    Current Use by Public Records

    Hill Court Apartments Apartment Building

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Collinsville
    County
    Henry
    State
    Virginia
    Longitude
    -79.9085162
    Latitude
    36.7299516

    Nearby Similar for Sale

    • $350,000
      5,382 SF

      Collinsville Commercial Property on 7.25 Acres

      Commercial property with potential for non-profit or residential conversion.
      310 Wagoner Rd, Collinsville, VA 24078
      View Details
    • $525,000
      3.00 Acres

      Warehouse with Office and Bays

      Versatile warehouse property with office space and vehicle bays.
      3495 Virginia Ave, Collinsville, VA 24078
      View Details
    • $350,000
      7.25 Acres

      Collinsville Commercial Property on 7.25 Acres

      Commercial building with kitchen, meeting area, and storage on 7.25 acres.
      310 Wagoner Rd, Collinsville, VA 24078
      View Details
    • $339,000
      0.22 Acres

      Collinsville Commercial Building For Sale

      5,952 SF flex building ideal for retail or office.
      2808 Virginia Ave, Collinsville, VA 24078
      View Details
    • $429,000
      0.81 Acres

      Collinsville Commercial Investment Opportunity

      Prime commercial location with steady income and future potential.
      5145 Kings Mountain Rd, Collinsville, VA 24078
      View Details
    • $330,000
      5,740 SF

      Commercial Property in Collinsville, VA

      Investment opportunity in a strong location with steady demand.
      80 Printers Ln, Collinsville, VA 24078
      View Details
    • New
      $625,000

      Renovated Apartments in Collinsville, VA

      Newly renovated 8-unit apartment building in a private setting.
      79 Ridgemont Cir, Collinsville, VA 24078
      View Details
    • $499,900
      0.29 Acres

      Collinsville Commercial Property For Sale

      Commercial property in high-traffic area with excellent visibility.
      2089 Virginia Ave, Collinsville, VA 24078
      View Details
    • $285,000
      0.75 Acres

      Collinsville Mixed-Use Investment Opportunity

      Well-maintained mixed-use property in high-traffic area, ideal for investors.
      4940 Kings Mountain Rd, Collinsville, VA 24078
      View Details
    • $379,000
      0.56 Acres

      Collinsville Commercial Investment Opportunity

      Fully occupied commercial building with steady rental income in Collinsville.
      4848 Kings Mountain Rd, Collinsville, VA 24078
      View Details
    • $1,131,630

      Little Caesars in Collinsville, VA

      Single tenant Little Caesars with drive-thru on hard corner.
      3460 Virginia Ave, Collinsville, VA 24078
      View Details
    • Contact for pricing
      13,049 SF

      Collinsville CVS Investment Opportunity

      NNN leased CVS with 15 years remaining in Collinsville.
      400 Riverside Dr, Collinsville, VA
      View Details

    FAQs

    What type of property is this?
    Apartment building - Multifamily property with 97 units near Roanoke MSA.
    Where is this apartment building located?
    The property is located at 81 Terry Ct Collinsville, VA.
    What are key features of this property?
    This property features: - Stable investment opportunity with historically low vacancy.; - Significant upside potential in rents through unit remodels.; - 97 units with diverse 1-3 bedroom layouts catering to housing demand.
    (336) 724-1715
    Request Owner's contact information
    81 Terry Ct Collinsville, VA 24078
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    81 Terry Ct
    Collinsville, VA 24078
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    81 Terry Ct Collinsville, VA 24078
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Nick Gonzalez
    Nick Gonzalez
    Real Estate License ID: 268640
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!