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Property profile & analytics
OFF-MARKET
Estimated value
$1,000,000
Apartment buildings
1115 Reservoir St Waynesboro, VA 22980-4148
Entity Owned
1-yr Hold
Free & Clear
Property ID
US87-2485102
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1947
Total area
10,672 SF
Lot
11.72 ac (510,697 SF)
Zoning code
R-MF
APN
47 2 - 2
UPID
US87-2485102
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
-
Fairfax Hall Hotel & Motel Resort
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$975k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.00M
Owner & transaction history
Shen Valley Renovators LLC · 1 yrs held
Shen Valley Renovators LLC
since 2024
Last sale
$1.0M
2 recorded transactions
Zoning & alternative use
R-MF · Waynesboro, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.0M
+38.6%
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 Waynesboro submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waynesboro 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
$1,030,000
ML approach
$975,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$755,000
Current use
COMMERCIAL (GENERAL)
$1,045,000
Change: +39% · Conversion: Moderate
OFFICE BUILDING
$640,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$1.00M
Range $726k – $1.47M · vs last sale $1.00M (Nov 2 2023)
Last sale anchor
$1.00M
Nov 2 2023
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
$94 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$5,523
Tax year 2023
Assessed value
$717,300
Assessed 2023
Previous assessed
$717,300
+0.0% YoY
Effective rate
0.77%
On assessed value
Assessed land
$304,800
Assessed improvement
$412,500
Land market value
$304,800
Improvement market value
$412,500
Total market value
$717,300
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1947
Heating
FORCED AIR
Cooling
NONE
Stories
2
Units
6
Rooms
12
Total area
10,672 SF
Lot
11.72 ac (510,697 SF)
Zoning code
R-MF
APN
47 2 - 2
UPID
US87-2485102
Jurisdiction
WAYNESBORO CITY
Zoning & alternative use
R-MF · Waynesboro, VA
Zoning R-MF · permitted uses
R-MF · Waynesboro, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Waynesboro. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$755,000
COMMERCIAL (GENERAL)
Est. value
$1.0M
OFFICE BUILDING
Est. value
$640,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
Year built
1947
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
6
Rooms
12
Lot
11.72 ac
Current owner
From public records · entity-resolved
Shen Valley Renovators LLC
Entity
Free & Clear · 1 yrs held
Mailing address
279 DRAFT AVE STE #103, STUARTS DRAFT, VA 24477-2976
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 10, 2024
$280,000
Shen Valley Renovators LLC
Reservoir Street Properties LLC
Warranty Deed
—
Nov 2, 2023
$1,000,000
Reservoir Street Properties LLC
Wesley R Meeteer
Warranty Deed
$900,000 · Party III
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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