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

    16 Church St, Unit 18 Martinsville, VA 24112-6208

    • Retail space
    • 10,800 SF
    • 0.15 lot acres
    OFF-MARKET
    Last Sale
    Apr 12, 2024
    $465,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-2997288
    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

    • Mccollum Ferrell Shoe / Clothing & Fashion Store / (Bike/Boat/Book/etc) Store

    Property Details for 16 Church St

    Year built
    1924
    Lot size
    0.15 lot acres
    Property size
    10,800 SF
    Zone code
    C-UB
    Property type
    Retail space
    APN
    32 (01 )J /04
    APU
    3201J04

    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
    Martinsville
    County
    Martinsville City
    State
    Virginia
    Longitude
    -79.8727
    Latitude
    36.6906
    CBSA code
    32300
    CBSA name
    MARTINSVILLE, VA MICROPOLITAN 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
    2023
    $2,173
    $16,500
    $203,000
    $219,500
    -
    $16,500
    $203,000
    $219,500

    Comparable in this City

    • Value Estimation by Request
      6,288 SF

      105 Jones St

      RETAIL STORES (PERSONAL SERVICES) • 6,288 SF
      105 Jones St, Martinsville, VA 24112
      View Details
    • Value Estimation by Request
      4,000 SF

      121 Main St

      RETAIL STORES (PERSONAL SERVICES) • 4,000 SF
      121 Main St, Martinsville, VA 24112-2813
      View Details
    • Value Estimation by Request
      5,300 SF

      35 Main St, Unit 37

      RETAIL STORES (PERSONAL SERVICES) • 5,300 SF
      35 Main St, Martinsville, VA 24112-2721
      View Details
    • Value Estimation by Request
      8,500 SF

      619 Church St

      RETAIL STORES (PERSONAL SERVICES) • 8,500 SF
      619 Church St, Martinsville, VA 24112-2512
      View Details
    • Value Estimation by Request
      7,060 SF

      904 Fisher St

      RETAIL STORES (PERSONAL SERVICES) • 7,060 SF
      904 Fisher St, Martinsville, VA 24112
      View Details
    • Value Estimation by Request
      2,028 SF

      530 Hairston St

      RETAIL STORES (PERSONAL SERVICES) • 2,028 SF
      530 Hairston St, Martinsville, VA 24112-4318
      View Details

    Similar Nearby for Sale

    • $365,000
      2,048 SF

      Retail Building on High-Traffic Corridor

      2,048 SF retail building on 0.46 acre lot.
      1706 Virginia Ave, Martinsville, VA 24112
      View Details
    • $329,000
      0.71 Acres

      Retail Investment Opportunity, Martinsville, VA

      High-traffic retail property with existing tenant for immediate income.
      1100 Spruce Street Ext, Martinsville, VA 24112
      View Details
    • $895,000
      0.50 Acres

      Martinsville Commercial Building For Sale

      13,000+ sq ft building in high traffic location.
      8 Lester St, Martinsville, VA 24112
      View Details
    • New
      $89,900
      Pending

      Martinsville Commercial Opportunity For Sale

      Commercial building with office space, kitchenette, and storage.
      933 Starling Ave, Martinsville, VA 24112
      View Details
    • $225,000
      0.16 Acres

      Mixed-Use Property with Renovations

      Renovated mixed-use property with residential and commercial spaces in Martinsville.
      813 Brookdale St, Martinsville, VA 24112
      View Details
    • $365,000
      2,048 SF

      Martinsville QSR Investment Opportunity

      Fast food restaurant, high traffic area, $365,000
      1706 Virginia Ave, Martinsville, VA 24112
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Martinsville

      Retail space available on Commonwealth Blvd in Martinsville, VA.
      100 West Commonwealth Blvd, Martinsville, VA 24112
      View Details
    • $13 SF/Yr
      13,569 SF

      Martinsville Retail Space for Lease

      13,569 SF Former Pharmacy, High Traffic
      2707 Greensboro Rd, Martinsville, VA 24112
      View Details
    • Contact for pricing
      77,000 SF

      Cloverleaf Shopping Center Investment

      Martinsville, VA retail center opportunity
      2370 Greensboro Rd, Martinsville, VA 24112
      View Details
    • Contact for pricing
      288,254 SF

      Martinsville Retail Center Investment

      Grocery-anchored power center, high traffic.
      240 Commonwealth Blvd, Martinsville, VA 24112
      View Details
    • Contact for pricing
      213,869 SF

      Patrick Henry Mall Office Suites

      Martinsville, VA Executive Office Space Available
      730 Church St, Martinsville, VA 24112
      View Details
    • $10 SF/Yr
      5,559 SF

      Uptown Martinsville Office Space

      Prime Office Suites, Flexible Layout
      26 Church St, Martinsville, VA 24112
      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.
    16 Church St, Unit 18
    Martinsville, VA 24112-6208
    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.