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    Commercial Lot on Route 259 Title is generated by Realmo AI

    J4W6+XW8, Fulks Run, VA

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    Open lot with high traffic, ideal for laydown yard.

    Type:LAND
    Lot size:
    2.50 Acres
    Added:
    Jul 17, 2024
    Days on Market:
    663
    Last Refresh:
    Apr 5 at 11:08 pm

    Property Features for J4W6+XW8

    General Information

    Standard status
    Active
    Lot size
    2.50 Acres
    Property subtype
    LAND

    Spaces For Lease

    at J4W6+XW8 Contact us

    We can help!

    Listing Contact
    Alessandro Coppola
    Alessandro Coppola

    Listing agent Alessandro Coppola License #0225264487

    Listing office Lee & Associates

    Listing date Jul 17, 2024

    Source Moodyscre

    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 Lee & Associates

    HighLights

    • High Traffic Count: Located on Route 259 with a daily traffic count of 5,800, providing maximum exposure.
    • Strategic Location: Positioned between Broadway and Fulks Run, serving as a bridge between Virginia and West Virginia.
    • 30' VDOT Approved Commercial Entrance for easy access.
    • Significant Road Frontage: Offers 500‑600' of road frontage.
    • Shenandoah Valley Electric runs by the property, allowing for easy hookup.
    • Zoning Flexibility: Currently zoned A2 and can operate as a laydown yard with a special use permit; owner is open to rezoning.

    Overview

    This open lot is strategically positioned on Route 259 between Broadway and Fulks Run, with a daily traffic count of 5,800. The property is currently zoned A2 and with a special use permit can operate as a laydown yard. The owner is willing to consider rezoning for the right terms. Situated between Virginia and West Virginia, this location offers access to workers commuting between both states. Shenandoah Valley Electric runs by the property and could be easily connected. The property features a 30' VDOT-approved commercial entrance and 500-600' of road frontage.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Fulks Run
    County
    Rockingham
    State
    Virginia
    Longitude
    -78.9061
    Latitude
    38.6601

    FAQs

    What type of property is this?
    Commercial land - Open lot with high traffic, ideal for laydown yard.
    Where is this commercial land located?
    The property is located at J4W6+XW8 Fulks Run, VA.
    What is the lease rate?
    The lease rate is $2,000 /Mo.
    What are key features of this property?
    This property features: High Traffic Count: Located on Route 259 with a daily traffic count of 5,800, providing maximum exposure.; Strategic Location: Positioned between Broadway and Fulks Run, serving as a bridge between Virginia and West Virginia.; 30' VDOT Approved Commercial Entrance for easy access.
    (540) 437-3728 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Alessandro Coppola
    Alessandro Coppola
    Real Estate License ID: 0225264487
    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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