Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$7,010,000
Hotels
121 Sheraton Dr Salem, VA 24153-3003
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US87-2287617
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2017
Lot
3.17 ac (137,955 SF)
Zoning code
HBD
APN
4-1-3
UPID
US87-2287617
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
-
Fairfield Inn & Suites by Marriott Roanoke Salem Hotel & Motel
-
Buck's Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.84M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.01M
Owner & transaction history
Sapphire Hospitality LLC · 2 yrs held
Sapphire Hospitality LLC
since 2023
Last sale
$7.0M
4 recorded transactions
Zoning & alternative use
HBD · Salem, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem 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
$7,200,000
ML approach
$6,840,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$7.01M
Range $6.31M – $7.71M · ±10% · vs last sale $7.00M (Oct 10 2023)
Last sale anchor
$7.00M
Oct 10 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
—
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
Assessed value
$6,938,100
Assessed 2023
Previous assessed
$6,938,100
+0.0% YoY
Assessed land
$417,200
Assessed improvement
$6,520,900
Land market value
$417,200
Improvement market value
$6,520,900
Total market value
$6,938,100
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
2017
Heating
CENTRAL
Cooling
CENTRAL
Stories
5
Rooms
113
Bathrooms
113
Lot
3.17 ac (137,955 SF)
Zoning code
HBD
APN
4-1-3
UPID
US87-2287617
Jurisdiction
SALEM CITY
Zoning & alternative use
HBD · Salem, VA
Zoning HBD · permitted uses
HBD · Salem, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salem. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2017
Heating
CENTRAL
Cooling
Yes
Stories
5
Rooms
113
Bathrooms
113
Lot
3.17 ac
Current owner
From public records · entity-resolved
Sapphire Hospitality LLC
Entity
Mailing address
489 IRONWOOD GATE DR PRINCETON
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 10, 2023
$7,000,000
Sapphire Hospitality LLC
Salem Hotel Partners LLC
Special Warranty Deed
$14,025,000 · City National Bank Of West Virginia
Aug 28, 2014
$310,000
Salem Hotel Partners LLC
Hinchee,margaret R
Grant Deed
—
Nov 9, 2005
—
Hinchee,lloyd Liv Trust
Hinchee,raymond D & Lloyd M
Quit Claim Deed
related
—
—
—
Salem Hotel Partners LLC
—
Deed Of Trust
related
$9,750,000 · Sonabank NA
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 121 Sheraton Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
