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    Property profile & analytics

    2648 Us Hwy 23rd N Weber City, VA 24290-7081

    • Retail space
    • 2,520 SF
    • 0.08 lot acres
    OFF-MARKET
    Last Sale
    Mar 02, 2021
    $50,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-2882257
    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

    • Retail space

    Property Details for 2648 Us Hwy 23rd N

    Year built
    1931
    Lot size
    0.08 lot acres
    Property size
    2,520 SF
    Property type
    Retail space
    APN
    146B417 B 5,6A-8A
    APU
    146B417B56A8A

    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
    Weber City
    County
    Scott
    State
    Virginia
    Longitude
    -82.5563
    Latitude
    36.6263
    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
    $30,600
    $87,000
    $117,600
    -
    $30,600
    $87,000
    $117,600

    Comparable in this City

    • Value Estimation by Request
      696 SF

      1941 Us Hwy 23rd S

      RETAIL STORES (PERSONAL SERVICES) • 696 SF
      1941 Us Hwy 23rd S, Weber City, VA 24290-7030
      View Details
    • Value Estimation by Request
      620 SF

      Us Hwy 23rd S

      RETAIL STORES (PERSONAL SERVICES) • 620 SF
      Us Hwy 23rd S, Weber City, VA 24290
      View Details
    • Value Estimation by Request
      98 SF

      Us Hwy

      RETAIL STORES (PERSONAL SERVICES) • 98 SF
      Us Hwy, Weber City, VA 24290
      View Details
    • Value Estimation by Request
      2,940 SF

      180 Shady Elm Ln

      RETAIL STORES (PERSONAL SERVICES) • 2,940 SF
      180 Shady Elm Ln, Weber City, VA 24290-7300
      View Details
    • Value Estimation
      $650,000
      5,924 SF

      2368 Us Hwy 23rd N

      RETAIL STORES (PERSONAL SERVICES) • 5,924 SF
      2368 Us Hwy 23rd N, Weber City, VA 24290-7383
      View Details
    • Value Estimation by Request
      960 SF

      323 Us Hwy 23rd S

      RETAIL STORES (PERSONAL SERVICES) • 960 SF
      323 Us Hwy 23rd S, Weber City, VA 24290-7048
      View Details

    Similar Nearby for Sale

    • $329,000
      1,399 SF

      Weber City Commercial Opportunity

      High-visibility lot with office space and garage near Kingsport, TN.
      563 Us Highway 23 S, Weber City, VA 24290
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    • $184,500
      0.28 Acres

      Weber City Hwy 23 Commercial Lot

      Level Lot, Hwy 23 Frontage, Ready to Build
      280 State Line Cir, Weber City, VA 24290
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    • Contact for pricing

      Weber City Land with Views

      Residential land in Weber City, VA, with desirable views.
      Laurel St, Weber City, VA 24290
      View Details
    • $599,900
      2.39 Acres

      Commercial Lot in Weber City

      2.39-acre commercial lot with utilities and highway frontage.
      Frank B. Smith, Weber City, VA 24290
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    • $39,900
      Pending

      Vacant Land in Weber City

      1.73 acres of land perfect for building a new home.
      Dogwood St, Weber City, VA 24290
      View Details

    Similar Nearby for Lease

    • $108,948
      6,942 SF

      Hwy 23 Commercial Lot Lease

      1.3-acre lot, high traffic, build-to-suit
      3100 Us Highway 23, Weber City, VA 24290
      View Details
    • $56,868
      1 SF

      Hwy 23 Commercial Land Lease

      1.3-Acre Paved Lot, High Traffic Area
      923 Us Highway 23, Weber City, VA 24290
      View Details
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    2648 Us Hwy 23rd N
    Weber City, VA 24290-7081
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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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