Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2192 Old Vly Pike New Market, VA 22844-3902
    Back to Search
    Property profile & analytics

    2192 Old Vly Pike, New Market, VA 22844-3902

    View on Map
    • Commercial real estate
    • 6,054 SF
    • 2.03 lot acres
    Off-Market
    Last Sale May 9, 2025
    $750,000
    Property ID
    US87-1568836
    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
    $755,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Budget Inn-New Market / Hotel & Motel

    Property Details for 2192 Old Vly Pike

    Year built
    1967
    Lot size
    2.03 lot acres
    Property type
    Commercial real estate
    APN
    104A 02 010
    APU
    104A02010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 9, 2025 $750,000 Shenandoah Valley Battlefields Fndn Shri Hari Krishna INC Bargain & Sale Deed —
    Nov 9, 2018 — Shri Hari Krishna INC — Deed · related $240k · Farmers & Merchants Bank
    Aug 22, 2011 $595,625 Gandhi Family LLC Yashree LLC Deed In Lieu Of Foreclosure · related $639k · First Bank
    Nov 23, 2009 $725,000 Yashree LLC Indira V Gandhi Deed $600k · Indira Gandhi

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $975,000
      ML approach
      $985,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $613,000
      Market price range: $475k - $1.36M

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

    Location Insight

    • Map
    • Local Demand
    City
    New Market
    County
    Shenandoah
    State
    Virginia
    Longitude
    -78.6638
    Latitude
    38.6598

    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
    $2,451
    $101,300
    $281,600
    $382,900
    -
    $101,300
    $281,600
    $382,900

    Comparable in this City

    • Value Estimation
      $1,765,000
      13,279 SF

      50 Burkholder Ln

      COMMERCIAL (GENERAL)
      50 Burkholder Ln, New Market, VA 22844-9563
      View Details
    • Value Estimation by Request
      3,960 SF

      9428 Congress St

      COMMERCIAL (GENERAL)
      9428 Congress St, New Market, VA 22844-9455
      View Details
    • Value Estimation
      $16,435,000
      176,414 SF

      574 New Market Depot Rd

      COMMERCIAL (GENERAL)
      574 New Market Depot Rd, New Market, VA 22844-2000
      View Details
    • Value Estimation by Request
      0.35 Acres

      9592 Calvert Ave

      COMMERCIAL (GENERAL)
      9592 Calvert Ave, New Market, VA 22844
      View Details
    • Value Estimation by Request
      2,282 SF

      9299 Congress St

      COMMERCIAL (GENERAL)
      9299 Congress St, New Market, VA 22844-9507
      View Details
    • Value Estimation by Request
      3,200 SF

      9743 Congress St

      COMMERCIAL (GENERAL)
      9743 Congress St, New Market, VA 22844-9611
      View Details

    Similar Nearby for Sale

    • $2,400,000
      1,600 SF

      Shenandoah Farmland For Sale

      1600 acre farmland property located in Shenandoah County, Virginia.
      499 E Lee Hwy, New Market, VA 22844
      View Details
    • $585,000
      20.38 Acres

      Shenandoah Valley Land Opportunity

      20+ acre land parcel in New Market, Virginia.
      Smith Creek Rd, New Market, VA 22844
      View Details
    • $275,000

      Mixed-Use Opportunity on Main Street

      Mixed-use property with renovation potential in New Market, Virginia.
      9365 N Congress St, New Market, VA 22844
      View Details
    • $250,000

      Shenandoah Valley Mountain Property

      Mountain property with panoramic views bordering George Washington National Forest.
      3200 E Lee Hwy, New Market, VA 22844
      View Details
    • $250,000
      16.24 Acres

      Land with Mountain Views

      16.24 acres with mountain views near I-81.
      Tbd New Market Depot Rd, New Market, VA 22844
      View Details

    Similar Nearby for Lease

    • $995 /Mo

      Downtown New Market Commercial Space

      Commercial space for lease in downtown New Market, Virginia.
      9437 South Congress St, New Market, VA 22844
      View Details
    • $1.00 SF/Yr
      47,916 SF

      Retail Opportunity with Drive-Thru Lanes

      Versatile commercial space with drive-thru, high visibility, and included equipment.
      172 W Old Cross Rd, New Market, VA 22844
      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.
    2192 Old Vly Pike
    New Market, VA 22844-3902
    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

    Thank You for Inquiry
    2192 Old Vly Pike, New Market, VA, 22844
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!