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

    19028 Lee Hwy Abingdon, VA 24210

    • Commercial real estate
    • 1,666 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    May 30, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1959058
    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

    • Commercial real estate

    Property Details for 19028 Lee Hwy

    Year built
    1964
    Lot size
    0.34 lot acres
    Property size
    1,666 SF
    Zone code
    B2 BUSINESS GENERAL
    Property type
    Commercial real estate
    APN
    124A1 1 7
    APU
    124A117

    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
    Abingdon
    County
    Washington
    State
    Virginia
    Longitude
    -82.0293
    Latitude
    36.6866
    CBSA code
    28700
    CBSA name
    KINGSPORT-BRISTOL-BRISTOL, TN-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
    0
    $0.00
    $59,900
    $25,000
    $84,900
    -
    $59,900
    $25,000
    $84,900

    Comparable in this City

    • Value Estimation by Request
      0.05 Acres

      Plummer St

      COMMERCIAL (GENERAL) • 0.05 Acres
      Plummer St, Abingdon, VA 24210
      View Details
    • Value Estimation by Request
      0.23 Acres

      Porterfield Hwy

      COMMERCIAL (GENERAL) • 0.23 Acres
      Porterfield Hwy, Abingdon, VA 24210
      View Details
    • Value Estimation by Request

      Nn Ct St

      COMMERCIAL (GENERAL)
      Nn Ct St, Abingdon, VA 24210
      View Details
    • Value Estimation by Request
      0.63 Acres

      Empire Dr

      COMMERCIAL (GENERAL) • 0.63 Acres
      Empire Dr, Abingdon, VA 24210
      View Details
    • Value Estimation by Request
      1,200 SF

      15696 Porterfield Hwy

      COMMERCIAL (GENERAL) • 1,200 SF
      15696 Porterfield Hwy, Abingdon, VA 24210-8464
      View Details
    • Value Estimation by Request
      2,400 SF

      20427 Rich Vly Rd

      COMMERCIAL (GENERAL) • 2,400 SF
      20427 Rich Vly Rd, Abingdon, VA 24210-1759
      View Details

    Similar Nearby for Sale

    • $499,000
      11,724 SF

      Abingdon Commercial Building - Prime Location

      High-visibility Abingdon commercial space, priced below assessment.
      15157 Inspiration Dr Dr, Abingdon, VA 24210
      View Details
    • $535,000

      Prime Interstate Redevelopment Opportunity

      1.34 acre commercial land for redevelopment off I-81.
      535 Cummings St, Abingdon, VA 24210
      View Details
    • $429,000
      46.64 Acres

      Secluded 46-Acre Abingdon Property

      46-acre property with creek, offering privacy and development opportunities.
      16037 Knights Bridge Rd, Abingdon, VA 24210
      View Details
    • $55,000
      1.03 Acres

      Land in Mountain Hollow Farms

      Over one acre lot in Abingdon school district.
      Tbd Black Holw Rd, Abingdon, VA 24210
      View Details
    • $129,900
      48.20 Acres

      Abingdon, VA Wooded Acreage

      48.2 acres near Abingdon, VA, ideal for recreation.
      Fork River Rd, Abingdon, VA 24210
      View Details
    • $249,000
      2.15 Acres

      2.15 Acres on Jeb Stuart Highway

      Exceptional development opportunity between Abingdon and Damascus.
      2.15Ac Jeb Stuart Hwy, Abingdon, VA 24210
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      4,450 SF

      Abingdon Retail or Office Space

      Retail or office space in scenic Abingdon, Virginia.
      308-372 Towne Center Dr, Abingdon, VA 24210
      View Details
    • $1,950 /Mo
      1,422 SF

      Abingdon Office Space For Rent

      Move-in ready office space with utilities and janitorial services included.
      230 Charwood Dr, Abingdon, VA 24210
      View Details
    • $1,800 /Mo
      4,792 SF

      Commercial Land on Russell Road

      Commercial property with high visibility and road frontage in Abingdon.
      121 NW Russell Rd, Abingdon, VA 24210
      View Details
    • $650 /Mo
      1,100 SF

      Abingdon Flex Space Available

      Multi-use space for lease in Abingdon, Virginia.
      560-C W Main St, Abingdon, VA 24210
      View Details
    • $1,475 /Mo
      5,250 SF

      Commercial Space on Heavily Traveled Highway

      Commercial building with parking, signage, and flexible office/retail space.
      15610 Porterfield Hwy, Abingdon, VA 24210
      View Details
    • $689,900
      2,490 SF

      Abingdon Medical Office Building

      Well-maintained medical office space for lease in Abingdon, VA.
      612 Campus Dr, Abingdon, VA 24210
      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.
    19028 Lee Hwy
    Abingdon, VA 24210
    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.