Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    323 Madine Way Fincastle, VA 24090
    Back to Search
    Property profile & analytics

    323 Madine Way, Fincastle, VA 24090

    View on Map
    • Land
    • 0.78 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 323 Madine Way

    Lot size
    0.78 lot acres
    Property type
    Land

    Description

    This exceptional 0.78-acre commercial development lot is strategically located in Fincastle, Virginia, at the corner of US 220 (Roanoke Road) and Madine Way. Currently zoned A-1, the property is proposed for B-1 zoning, ideal for local and neighborhood shopping, personal service businesses, and professional offices. The B-1 zoning is designed to minimize traffic and avoid disturbing nearby residential areas. This lot boasts significant frontage on US 220 and Madine Way, including an existing curb cut, providing excellent visibility and accessibility. Its prime location is directly across S Roanoke Street from the US Post Office and across US 220 from the Fincastle Fire Department, ensuring high traffic and visibility. Utilities are readily available, including public water, sewer, and natural gas. The property is also subject to the Town of Fincastle Enhancement Corridor Overlay District. The asking price for this exceptional development opportunity is $195,000. The APN is 73A-38. This property presents a unique chance to establish a thriving business in a high-traffic, well-established community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fincastle
    County
    Botetourt
    State
    Virginia
    Longitude
    -79.8783
    Latitude
    37.4957

    Comparable in this City

    • Value Estimation by Request
      0.43 Acres

      6 Redbud Ln

      COMMERCIAL (GENERAL)
      6 Redbud Ln, Fincastle, VA 24090-4194
      View Details
    • Value Estimation by Request
      8.02 Acres

      345 Brughs Ml Rd

      COMMERCIAL (GENERAL)
      345 Brughs Ml Rd, Fincastle, VA 24090-5326
      View Details
    • Value Estimation by Request
      0.43 Acres

      20 Roanoke St

      COMMERCIAL (GENERAL)
      20 Roanoke St, Fincastle, VA 24090-3102
      View Details
    • Value Estimation by Request
      0.72 Acres

      725 Botetourt Rd

      COMMERCIAL (GENERAL)
      725 Botetourt Rd, Fincastle, VA 24090-3154
      View Details
    • Value Estimation by Request
      0.23 Acres

      238 Roanoke St

      COMMERCIAL (GENERAL)
      238 Roanoke St, Fincastle, VA 24090-3017
      View Details
    • Value Estimation by Request
      0.10 Acres

      17 Roanoke St

      COMMERCIAL (GENERAL)
      17 Roanoke St, Fincastle, VA 24090
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Land Ready For Development

      Commercial land for development with utilities and high visibility.
      323 Madine Way, Fincastle, VA 24090
      View Details
    • $60,000
      Pending

      Residential Land in Fincastle, VA

      Over 1 acre of land ready for custom build.
      Frontier Way, Fincastle, VA 24090
      View Details
    • $290,000
      11.36 Acres

      Fincastle Land with Road Frontage

      11.36 acres with road frontage and existing dwellings.
      3770 Blue Ridge Tpke, Fincastle, VA 24090
      View Details
    • $79,950
      Pending

      Land in Fincastle, Virginia

      2.62 acres of pasture land near Blue Ridge Parkway.
      Fincastle, VA 24090
      View Details
    • $55,000
      1.06 Acres

      Residential Land in Fincastle, VA

      Over 1 acre of land ready for your dream home.
      Frontier Way, Fincastle, VA 24090
      View Details
    • Contact for pricing

      Virginia Wine Country Land

      32-acre land parcel in the heart of Virginia wine country.
      4204 Old Fincastle Rd, Fincastle, VA 24090
      View Details
    Request Owner's contact information
    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.
    323 Madine Way
    Fincastle, VA 24090
    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
    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

    Thank You for Inquiry
    323 Madine Way, Fincastle, VA, 24090
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!