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    2002 Highland Farm NW Rd Roanoke, VA 24017-1201
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    Property profile & analytics

    2002 Highland Farm NW Rd, Roanoke, VA 24017-1201

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    • Specialty properties
    • 19,960 SF
    • 3.59 lot acres
    Off-Market
    Last Sale Jan 11, 2025
    $1,350,000
    Property ID
    US87-2311256
    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.
    Value Estimations
    $1,000,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • VBR Star Soccer Club / Sports School / Sports Field & Court
    • Countryside SportsPlex / Gym & Fitness Center / Sports Field & Court

    Property Details for 2002 Highland Farm NW Rd

    Year built
    1968
    Lot size
    3.59 lot acres
    Zone code
    ROS
    Property type
    Specialty properties
    APN
    647-2303
    APU
    6472303

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 11, 2025 $1,350,000 5cs LLC Countryside Sportsplex INC Deed —
    Jul 31, 2014 — Countryside Sportsplex INC City Of Roanoke Virginia Grant Deed · related $750k · Bank Of Botetourt

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $836,000
      Market price range: $549k - $1.40M

    • Alternative Use

      Use
      Estimation
      CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS
      $955,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $1,465,000
      Change: +53% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,275,000
      Change: +33% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $1,035,000
      Change: +8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke
    County
    Roanoke City
    State
    Virginia
    Longitude
    -79.9882
    Latitude
    37.3124
    CBSA code
    40220
    CBSA name
    ROANOKE, 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
    2024
    $19,791
    $78,200
    $1,544,000
    $1,622,200
    -
    $78,200
    $1,544,000
    $1,622,200

    Comparable in this City

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    • Value Estimation
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      CHARITABLE ORGANIZATION
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      CHARITABLE ORGANIZATION
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    • Value Estimation
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      93,835 SF

      2502 Melrose NW Ave

      CHARITABLE ORGANIZATION
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    • Value Estimation by Request
      0.77 Acres

      3014 Baker NW Ave

      VACANT COMMERCIAL LAND
      3014 Baker NW Ave, Roanoke, VA 24017-6806
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.08 Acres

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      Land available in Roanoke, Virginia.
      1213 Gilmer Ave NW, Roanoke, VA 24017
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      162,903 SF

      Prime Shopping Center on Melrose

      Shopping center with high traffic and income potential.
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      Turn Key Investment Apartments

      Upgraded apartments with off-street parking and convenient location.
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      Land Parcels Adjacent to Home Depot

      Parcels near Home Depot suitable for retail and hospitality.
      3217 Hershberger Rd, Roanoke, VA 24017
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      Commercial Land Parcels Available

      Two commercial land parcels available for development.
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      3,484 SF

      Land Parcel for Sale

      Land available in Roanoke, Virginia.
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      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,175 SF

      Roanoke Specialty Property for Rent

      3,175 SF specialty property on 0.1605 acres for rent.
      2737 Shenandoah Ave NW, Roanoke, VA 24017
      View Details
    • $5 SF/Yr

      Warehouse and Office Space Available

      25,050 SF warehouse and 7,500 SF office space for lease.
      2240 Shenandoah Ave NW, Roanoke, VA 24017
      View Details
    • Contact for pricing
      25,050 SF

      Warehouse and Office Space Available

      Warehouse and office space with easy access to I-581.
      2240 Shenandoah Ave NW, Roanoke, VA 24017
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      11,025 SF

      Office Space on Peters Creek

      Small office space ideal for new business or small agency.
      1727 Peters Creek Rd NW, Roanoke, VA 24017
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    • Contact for pricing
      80,000 SF

      Retail Space Near Major Retailers

      Available retail spaces in a shopping center, prime location.
      2911-2935 Hershberger Rd NW, Roanoke, VA 24017
      View Details
    • Contact for pricing
      11,000 SF

      Roanoke Warehouse Space Available

      11,000 sq ft warehouse space for lease.
      1512 Centre Ave NW, Roanoke, VA 24017
      View Details
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    Roanoke, VA 24017-1201
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    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
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