Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$670,000
Industrial properties
1702 Midland Rd Salem, VA 24153-6425
Entity Owned
Absentee Owner
Free & Clear
Property ID
US87-0457019
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1994
Total area
8,560 SF
Lot
5.22 ac (227,296 SF)
Zoning code
HM
APN
249-5-1
UPID
US87-0457019
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
-
Penske Truck Rental Car Rental Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$455k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$888k
Blend (final)
Blend
$670k
Owner & transaction history
PENSKE TRUCK LEASING CO
PENSKE TRUCK LEASING CO
Zoning & alternative use
HM · Salem, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The HM Heavy Manufacturing District is created to establish and preserve areas within the city that are suitable for business and more intensive industrial uses. The district allows a wide variety of intensive industrial and warehouse uses
Zone name
Heavy Manufacturing District
General category
INDUSTRIAL
Zone area
955.28 ac
Source
Realmo
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
by Request
ML approach
$455,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$670k
Range $603k – $737k · ±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
$78 / 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
$13,366
Tax year 2023
Assessed value
$1,113,800
Assessed 2023
Previous assessed
$960,200
+16.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$523,600
Assessed improvement
$590,200
Land market value
$523,600
Improvement market value
$590,200
Total market value
$1,113,800
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1994
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Bathrooms
2
Total area
8,560 SF
Lot
5.22 ac (227,296 SF)
Zoning code
HM
APN
249-5-1
UPID
US87-0457019
Jurisdiction
SALEM CITY
Zoning & alternative use
HM · Salem, VAZoning HM · permitted uses
HM · Salem, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The HM Heavy Manufacturing District is created to establish and preserve areas within the city that are suitable for business and more intensive industrial uses. The district allows a wide variety of intensive industrial and warehouse uses
Zone name
Heavy Manufacturing District
General category
INDUSTRIAL
Zone area
955.28 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1994
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
2
Lot
5.22 ac
Current owner
From public records · entity-resolved
PENSKE TRUCK LEASING CO
Individual
Free & Clear · 0 yrs held
Mailing address
2675 MORGANTOWN RD, READING, PA 19607-9676
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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 1702 Midland Rd?
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.
