Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1531 Main St Blacksburg, VA 24060-2551

    • Commercial real estate
    • 8,000 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1634236
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Imaginations Toy & Furniture / Toy Store
    • Village Groomer / Pet Groomer
    • Annie Kay's Main Street Market / Health Food Store
    • Bolte Development Corporation / Apartment Building

    Property Details for 1531 Main St

    Year built
    1970
    Property size
    8,000 SF
    Zone code
    GC
    Property type
    Commercial real estate
    APN
    197- 1 24-28
    APU
    19712428

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Blacksburg
    County
    Montgomery
    State
    Virginia
    Longitude
    -80.4119
    Latitude
    37.2518
    CBSA code
    13980
    CBSA name
    BLACKSBURG-CHRISTIANSBURG-RADFORD, VA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $35
    $384,000
    $89,200
    $473,200
    -
    $384,000
    $89,200
    $473,200

    Comparable in this City

    • Value Estimation by Request

      650 University City Blvd, Unit 201

      COMMERCIAL (GENERAL)
      650 University City Blvd, Blacksburg, VA 24060-2757
      View Details
    • Value Estimation by Request

      650 University City Blvd, Unit 216

      COMMERCIAL (GENERAL)
      650 University City Blvd, Blacksburg, VA 24060-2757
      View Details
    • Value Estimation by Request

      650 University City Blvd, Unit 217

      COMMERCIAL (GENERAL)
      650 University City Blvd, Blacksburg, VA 24060-2757
      View Details
    • Value Estimation by Request

      650 University City Blvd, Unit 218

      COMMERCIAL (GENERAL)
      650 University City Blvd, Blacksburg, VA 24060-2757
      View Details
    • Value Estimation by Request

      650 University City Blvd, Unit 224

      COMMERCIAL (GENERAL)
      650 University City Blvd, Blacksburg, VA 24060-2757
      View Details
    • Value Estimation by Request

      650 University City Blvd, Unit 303

      COMMERCIAL (GENERAL)
      650 University City Blvd, Blacksburg, VA 24060-2757
      View Details

    Similar Nearby for Sale

    • $11,875,000
      4.60 Acres

      810

      820
      702 University City Blvd, Blacksburg, VA 24060
      View Details
    • $3,785,000
      8.00 Acres

      Blacksburg Commercial Land Opportunity

      8 Acres, Prime Location, High Potential
      3730 Main St, Blacksburg, VA 24060
      View Details
    • $2,200,000
      10.03 Acres

      10-Acre Blacksburg Development Land

      Prime Commercial/Residential Land, 10 Acres
      0 Triangle St, Blacksburg, VA 24060
      View Details
    • $1,850,000
      0.33 Acres

      Blacksburg Main Street Commercial Property

      Thriving Gas Station & Service Center
      1107 Main St, Blacksburg, VA 24060
      View Details
    • $485,900
      0.58 Acres

      Blacksburg Commercial Land Parcel

      .584-acre commercial lot, prime location.
      2602 Sheffield Dr, Blacksburg, VA 24060
      View Details
    • $1,850,000
      2,766 SF

      Blacksburg Main Street Gas Station

      Thriving Gas Station & Service Center
      1107 Main St, Blacksburg, VA 24060
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,849 SF

      Downtown Blacksburg Office Space Available

      Open office space with modern amenities in downtown Blacksburg.
      301 S Main St, Blacksburg, VA 24060
      View Details
    • $21 SF/Yr
      19,395 SF

      Blacksburg Creative Office Space

      Modern office, 2,519 sq ft available
      2200 Main St, Blacksburg, VA 24060
      View Details
    • $15 SF/Yr
      20,023 SF

      South Main Street Creative Office

      Prime Office Space, Flexible Suites, Ample Parking
      2206 Main St, Blacksburg, VA 24060
      View Details
    • $279,662
      1,625 SF

      Office Space Near Virginia Tech

      Office suites with natural light, near Virginia Tech campus.
      840 University City Blvd, Blacksburg, VA 24060
      View Details
    • Contact for pricing
      28,500 SF

      Retail Space Near Virginia Tech

      Retail space for lease near Virginia Tech's Drill Field.
      300 Turner St NE, Blacksburg, VA 24060
      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.
    1531 Main St
    Blacksburg, VA 24060-2551
    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

    Google sign-in failed. Please try again or use another login method.