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Property profile & analytics
OFF-MARKET
Estimated value
$780,000
Hotels
1886 Electric Rd Salem, VA 24153-7461
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US87-0423254
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1997
Total area
66,509 SF
Lot
2 ac (87,120 SF)
Zoning code
HBD
APN
283-2-1.1
UPID
US87-0423254
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
-
Hampton Inn Salem East-Electric Road Hotel & Motel
-
Tesla Destination Charger Electric Vehicle Charging Station
-
Frankie Rowlands Steakhouse Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$780k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$780k
Owner & transaction history
Virginia Eastern Co LLC · 8 yrs held
Virginia Eastern Co LLC
since 2017
2 recorded transactions
Zoning & alternative use
HBD · Salem, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The HBD Highway Business District has been created to provide and allow a wide variety of commercial and service uses that are typically found along or near major transportation arterials
Zone name
Highway Business District
General category
COMMERCIAL
Zone area
756.27 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
$780,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$780k
Range $702k – $858k · ±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
$12 / 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
$69,941
Tax year 2023
Assessed value
$5,828,400
Assessed 2023
Previous assessed
$5,822,200
+0.1% YoY
Effective rate
1.20%
On assessed value
Assessed land
$600,800
Assessed improvement
$5,227,600
Land market value
$600,800
Improvement market value
$5,227,600
Total market value
$5,828,400
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
1997
Heating
CENTRAL
Cooling
CENTRAL
Stories
6
Rooms
113
Bathrooms
113
Total area
66,509 SF
Lot
2 ac (87,120 SF)
Zoning code
HBD
APN
283-2-1.1
UPID
US87-0423254
Jurisdiction
SALEM CITY
Zoning & alternative use
HBD · Salem, VAZoning HBD · permitted uses
HBD · Salem, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The HBD Highway Business District has been created to provide and allow a wide variety of commercial and service uses that are typically found along or near major transportation arterials
Zone name
Highway Business District
General category
COMMERCIAL
Zone area
756.27 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1997
Heating
CENTRAL
Cooling
Yes
Stories
6
Rooms
113
Bathrooms
113
Lot
2 ac
Current owner
From public records · entity-resolved
Virginia Eastern Co LLC
Entity
Mailing address
PO BOX 201, ROANOKE, VA 24002-0201
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 8, 2017
—
Virginia Eastern Co LLC
—
Deed
related
$4,300,000 · Freedom First FCU
—
—
Virginia Eastern Co LLC
—
Deed Of Trust
related
$4,300,000 · Freedom First FCU
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.
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