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Property profile & analytics
OFF-MARKET
Estimated value
$1,600,000
Industrial properties
2522 Colonial SW Ave Roanoke, VA 24015-3121
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-1223540
Property profile
Verified
Property type
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built
1981
Construction
TYPE NOT SPECIFIED
Total area
10,394 SF
Lot
1.99 ac (86,658 SF)
Zoning code
CG
APN
128-0407
UPID
US87-1223540
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.60M
CAP Approach
CAP
$1.99M
Comparable Approach
Comparable
$1.64M
Blend (final)
Blend
$1.60M
Owner & transaction history
Wellspace LLC · 2 yrs held
Wellspace LLC
since 2024
Last sale
$1.6M
4 recorded transactions
Zoning & alternative use
CG · Roanoke, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.1M
+32.1%
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 Roanoke submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Roanoke 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
$1,600,000
ML approach
$1,600,000
CAP Approach
CAP Return
Estimation
6%
$2,150,000
6.5%
$1,985,000
7%
$1,845,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,560,000
Current use
MEDICAL BUILDING
$2,060,000
Change: +32% · Conversion: Easy
Blend value · Realmo final
$1.60M
Range $1.44M – $1.76M · ±10% · vs last sale $1.60M (Jan 23 2024)
Last sale anchor
$1.60M
Jan 23 2024
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
$154 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$16,978
Tax year 2024
Assessed value
$1,200,400
Assessed 2024
Previous assessed
$971,800
+23.5% YoY
Effective rate
1.41%
On assessed value
Assessed land
$750,800
Assessed improvement
$449,600
Land market value
$750,800
Improvement market value
$449,600
Total market value
$1,200,400
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
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Status
Off-Market
Year built
1981
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Stories
1
Total area
10,394 SF
Lot
1.99 ac (86,658 SF)
Zoning code
CG
APN
128-0407
UPID
US87-1223540
Jurisdiction
ROANOKE CITY
Zoning & alternative use
CG · Roanoke, VA
Zoning CG · permitted uses
CG · Roanoke, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Roanoke. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$2.1M
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1981
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Lot
1.99 ac
Current owner
From public records · entity-resolved
Wellspace LLC
Entity
Mailing address
915 OAKWOOD DR SW, ROANOKE, VA 24015-3821
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 21, 2024
—
Wellspace LLC
—
Deed
related
$2,000,000 · First Bank
Apr 18, 2024
—
Wellspace LLC
—
Deed
related
$1,000,000 · Woody LLC
Jan 23, 2024
$1,600,000
Wellspace LLC
Woody LLC
Deed
$1,599,000 · Woody LLC
Dec 4, 2023
$900,000
Woody LLC
Ojp Rentals LLC
Deed
—
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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