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Property profile & analytics
OFF-MARKET
Estimated value
$1,155,000
Office buildings
11 Water St Front Royal, VA 22630-3001
Individually Owned
8-yr Hold
Free & Clear
Property ID
US87-1898628
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Total area
8,931 SF
Lot
0.98 ac (42,602 SF)
Zoning code
C2
APN
20A8 6 C 8
UPID
US87-1898628
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
US Consolidated Farm Services Agency Sustainability Organization
-
Happy Creek Designs / Kismet Designs Production Facility (Bike/Boat/Book/etc) Store
-
Veterans Claims Services State Government Office
-
Gospel Singers Network Recording Studio
-
T Tech Systems Tech Support Center (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.24M
Blend (final)
Blend
$1.16M
Owner & transaction history
Peter E Millspaugh · 8 yrs held
Peter E Millspaugh
since 2018
1 recorded transaction
Zoning & alternative use
C2 · Front Royal, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$1.9M
+4.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Front Royal submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Front Royal submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,770,000
Current use
WAREHOUSE, STORAGE
$1,855,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$1.16M
Range $1.04M – $1.27M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$129 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$5,376
Tax year 2024
Assessed value
$1,097,100
Assessed 2024
Previous assessed
$1,097,100
+0.0% YoY
Effective rate
0.49%
On assessed value
Assessed land
$255,900
Assessed improvement
$841,200
Land market value
$255,900
Improvement market value
$841,200
Total market value
$1,097,100
Applied tax rate
66.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Heating
HEAT PUMP
Cooling
YES
Buildings
1
Stories
1
Rooms
5
Bathrooms
6
Total area
8,931 SF
Lot
0.98 ac (42,602 SF)
Zoning code
C2
APN
20A8 6 C 8
UPID
US87-1898628
Jurisdiction
WARREN
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
C2 · Front Royal, VA
Zoning C2 · permitted uses
C2 · Front Royal, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Front Royal. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.8M
WAREHOUSE, STORAGE
Est. value
$1.9M
OFFICE BUILDING Current
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
1
Rooms
5
Bathrooms
6
Lot
0.98 ac
Current owner
From public records · entity-resolved
Peter E Millspaugh
Individual
Free & Clear · 8 yrs held
Mailing address
704 VILLA RDG RD, FALLS CHURCH, VA 22046-3661
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 26, 2018
—
Peter E Millspaugh
Peter E Millspaugh
Intrafamily Transfer
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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