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    Property profile & analytics

    2700 Main St Danville, VA 24540-2018

    • Retail properties
    • 5,594 SF
    • 0.72 lot acres
    OFF-MARKET
    Last Sale
    Dec 28, 2022
    $140,000
    Value Estimations
    $190,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1513224
    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

    • Asia's Tire Service / Tire Shop

    Property Details for 2700 Main St

    Year built
    1950
    Construction
    CONCRETE BLOCKS
    Lot size
    0.72 lot acres
    Property size
    5,594 SF
    Zone code
    NEIGHBORHOOD RETAIL COMME
    Property type
    Retail properties
    APN
    55064
    APU
    55064

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $185,000
      ML approach
      $180,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $233,000
      Market price range: $234k - $690k
      AI Estimate
      $243,000
      Market price range: $244k - $747k

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

    Location Insight

    • Map
    • Local Demand
    City
    Danville
    County
    Danville City
    State
    Virginia
    Longitude
    -79.3833
    Latitude
    36.623
    CBSA code
    19260
    CBSA name
    DANVILLE, 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
    2021
    $1,101
    $48,600
    $83,100
    $131,700
    -
    $48,600
    $83,100
    $131,700

    Comparable in this City

    • Value Estimation
      $1,240,000
      123,394 SF

      325 Piedmont Dr

      DEPARTMENT STORE • 123,394 SF
      325 Piedmont Dr, Danville, VA 24540-4028
      View Details
    • Value Estimation
      $340,000
      6,000 SF

      761 Piney Frst Rd

      DEPARTMENT STORE • 6,000 SF
      761 Piney Frst Rd, Danville, VA 24540-2860
      View Details
    • Value Estimation
      $3,275,000
      20,000 SF

      301 Lowes Dr

      DEPARTMENT STORE • 20,000 SF
      301 Lowes Dr, Danville, VA 24540-5901
      View Details
    • Value Estimation
      $805,000
      181,560 SF

      325 Piedmont Dr

      DEPARTMENT STORE • 181,560 SF
      325 Piedmont Dr, Danville, VA 24540-4028
      View Details
    • Value Estimation
      $500,000
      21,980 SF

      306 Lowes Dr

      DEPARTMENT STORE • 21,980 SF
      306 Lowes Dr, Danville, VA 24540-5927
      View Details
    • Value Estimation by Request
      14,550 SF

      1520 Piney Forest Rd

      Individual retail properties • 14,550 SF
      1520 Piney Forest Rd, Danville, VA 24540
      View Details

    Similar Nearby for Sale

    • $4,212,000
      6,532 SF

      Retail Property on Mall Drive

      Retail property available for sale, totaling 6,532 square feet.
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    • $2,000,000

      Retail Property For Sale

      Retail property available for purchase in Danville, Virginia.
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    • $695,000
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      Retail Property on Piney Forest

      Retail property with drive-thru lanes and ample parking.
      1296 Piney Forest Rd, Danville, VA 24540
      View Details
    • Contact for pricing

      Freestanding Retail Building For Sale

      8,343 SF building on 2.36 AC, high-traffic location.
      3943 Franklin Tpke, Danville, VA 24540
      View Details
    • Contact for pricing
      0.58 Acres

      Residential Lot Near Danville

      Building lot in Tunstall High School District, a few miles from town.
      114 Woodhaven Dr, Danville, VA 24540
      View Details
    • Contact for pricing
      0.73 Acres

      Danville, VA Building Lot

      Excellent 0.73 acre building lot in a great location.
      000 Afton Rd, Danville, VA 24540
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      22,711 SF

      Coleman Marketplace Retail Spaces

      Danville, VA Retail Center - 12 Units Available
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      View Details
    • Contact for pricing
      135,358 SF

      Nordan Shopping Center: Danville, VA

      Prime Danville Retail Space Available
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    • Contact for pricing
      10,602 SF

      Former Golden Corral Available

      10,602 SF restaurant space for lease in Danville, VA.
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      View Details
    • Contact for pricing
      20,000 SF

      Freestanding Retail Building in Danville

      20,000 SF retail building in Danville's main shopping area.
      301 Lowes Dr, Danville, VA 24540
      View Details
    • $15 SF/Yr
      96,602 SF

      River District Office Space Available

      Historic River District Office Building, Multiple Spaces
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      View Details
    • $13 SF/Yr
      14,550 SF

      Retail Property in Danville, VA

      14,550 SF retail property with drive-thru and ample parking.
      1500 Piney Forest Rd, Danville, VA 24540
      View Details
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    2700 Main St
    Danville, VA 24540-2018
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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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