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

    1703 Seymour Dr South Boston, VA 24592

    • Specialty properties
    • 2,600 SF
    • 0.17 lot acres
    For Sale
    View listing
    $170,000
    Last Sale
    Dec 02, 2024
    $130,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-2475355
    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

    • Specialty properties

    Property Details for 1703 Seymour Dr

    Lot size
    0.17 lot acres
    Property size
    2,600 SF
    Property type
    Specialty properties
    APN
    4473
    APU
    4473

    Description

    This exceptional office building at 1703 Seymour Dr, South Boston, VA 24592, presents a unique investment opportunity. Priced at $170,000, this property offers a blank canvas for a discerning buyer to create a thriving business space. While the square footage is currently listed as zero, the building's structure provides significant potential for development and customization. Located in South Boston, Virginia, within Halifax County, this property benefits from established community ties and a rich history. The building has served the community for many years and is now ready for a new chapter. Its existing structure offers a solid foundation for renovation or redevelopment, allowing for the creation of a modern and efficient workspace tailored to specific needs. The property's address is 1703 Seymour Dr, situated in a convenient location within South Boston. The building's legacy of community service makes it an attractive proposition for businesses seeking to establish a strong presence in the area. This is a rare chance to acquire a property with significant upside potential, allowing for the creation of a space that reflects the buyer's vision and contributes to the continued growth of the community. The property's history and location combine to create a compelling investment opportunity. Serious inquiries are encouraged to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $130,000
      ML approach
      $130,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $181,000
      Market price range: $60.3k - $395k

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

    Location Insight

    • Map
    • Local Demand
    City
    South Boston
    County
    Halifax
    State
    Virginia
    Longitude
    -78.892
    Latitude
    36.6966

    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
    $482
    $20,237
    $76,111
    $96,348
    -
    $20,237
    $76,111
    $96,348

    Comparable in this City

    • Value Estimation
      $270,000
      2.18 Acres

      1710 Jeffress Blvd

      CHARITABLE ORGANIZATION • 2.18 Acres
      1710 Jeffress Blvd, South Boston, VA 24592-1724
      View Details
    • Value Estimation by Request

      Florence Ave

      CHARITABLE ORGANIZATION
      Florence Ave, South Boston, VA 24592
      View Details
    • Value Estimation by Request

      1100 Confroy Dr

      CHARITABLE ORGANIZATION
      1100 Confroy Dr, South Boston, VA 24592-7162
      View Details
    • Value Estimation
      $275,000
      1,800 SF

      1097 Paradise Rd

      CHARITABLE ORGANIZATION • 1,800 SF
      1097 Paradise Rd, South Boston, VA 24592
      View Details
    • Value Estimation
      $265,000
      1,200 SF

      1035 Riverdale Dr

      CHARITABLE ORGANIZATION • 1,200 SF
      1035 Riverdale Dr, South Boston, VA 24592-7133
      View Details
    • Value Estimation
      $265,000
      1,072 SF

      29 Main St

      CHARITABLE ORGANIZATION • 1,072 SF
      29 Main St, South Boston, VA 24592-2507
      View Details

    Similar Nearby for Sale

    • $124,900

      Commercial/Industrial Building For Sale

      Commercial/Industrial building with great size and location, move-in ready!
      1723 Seymour Dr, South Boston, VA 24592
      View Details
    • $123,000
      Pending

      South Boston Residential Land Investment

      Residential land investment opportunity in South Boston, Virginia.
      1-16 Vaughan St, South Boston, VA 24592
      View Details
    • $220,000
      990 SF

      South Boston Commercial Space Available

      Commercial space in central location near shopping and restaurants.
      3350 Halifax Rd, South Boston, VA 24592
      View Details
    • $1,830,000

      South Boston Multifamily Investment Opportunity

      36-unit apartment complex in South Boston, Virginia.
      400 Tanglewylde Dr, South Boston, VA 24592
      View Details
    • $850,000
      1.25 Acres

      Hotel Ready Commercial Property

      Prime commercial property near highway with high traffic count.
      1013 Bill Tuck Hwy, South Boston, VA 24592
      View Details
    • $61,500
      Pending

      South Boston Lots/Land/Farm For Sale

      Investment property with many options in a convenient location.
      8 Lots Vaughan St, South Boston, VA 24592
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,593 SF

      Retail Space in Tri-Rivers Plaza

      Retail space available in established shopping center.
      3459 Old Halifax Rd, South Boston, VA 24592
      View Details
    • Contact for pricing
      54,724 SF

      Halifax Square Medical Office Space

      South Boston, VA medical office suites for lease.
      3130 Halifax Rd, South Boston, VA 24592
      View Details
    • Contact for pricing

      Halifax Road Land For Lease

      Land available for lease on Halifax Road in South Boston.
      4017 Halifax Rd, South Boston, VA 24592
      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.
    1703 Seymour Dr
    South Boston, VA 24592
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.