Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2969 Richmond Rd Troy, VA 22974
    Back to Search
    Property profile & analytics

    2969 Richmond Rd, Troy, VA 22974

    View on Map
    • Warehouses
    • 12,576 SF
    • 14.77 lot acres
    Off-Market
    Property ID
    US87-2115085
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 2969 Richmond Rd

    Year built
    2016
    Lot size
    14.77 lot acres
    Zone code
    I-1
    Property type
    Warehouses
    APN
    4 A 99
    APU
    4A99

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 11, 2013 $445,000 Kenneth Mark Serenity Oartners LLC Co Deed $1M · Union First Market Bank
    Jun 20, 2008 $300,000 Serenity Partners LLC Co Tracy Marie Cosner Warranty Deed $240k · Union Bank & Trust Co

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Fluvanna
    State
    Virginia
    Longitude
    -78.2704
    Latitude
    37.9865
    CBSA code
    16820
    CBSA name
    CHARLOTTESVILLE, 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
    2023
    $8,978
    $455,400
    $608,400
    $1,063,800
    -
    $455,400
    $608,400
    $1,063,800

    Comparable in this City

    • Value Estimation by Request
      21,000 SF

      24 Conestoga Way

      WAREHOUSE, STORAGE
      24 Conestoga Way, Troy, VA 22974-4479
      View Details
    • Value Estimation
      $585,000
      26,000 SF

      169 Starlite Park

      WAREHOUSE, STORAGE
      169 Starlite Park, Troy, VA 22974-4480
      View Details
    • Value Estimation by Request
      4,320 SF

      151 Starlite Park

      WAREHOUSE, STORAGE
      151 Starlite Park, Troy, VA 22974-4480
      View Details
    • Value Estimation
      $530,000
      25,860 SF

      371 Better Living Dr

      WAREHOUSE, STORAGE
      371 Better Living Dr, Troy, VA 22974-3974
      View Details
    • Value Estimation by Request
      15,372 SF

      166 Industrial Way

      WAREHOUSE, STORAGE
      166 Industrial Way, Troy, VA 22974-3967
      View Details
    • Value Estimation by Request
      1,884 SF

      1098 Paynes Ml Rd

      WAREHOUSE, STORAGE
      1098 Paynes Ml Rd, Troy, VA 22974-3610
      View Details

    Similar Nearby for Sale

    • $135,000

      Wooded Acreage Near Amenities

      10.15 acres of wooded land near Zion Crossroads.
      1064 Hunters Lodge Rd, Troy, VA 22974
      View Details
    • Contact for pricing

      Prime Buildable Land on Rt. 250

      Two parcels of land with high visibility and easy access.
      9323 Three Notch Rd, Troy, VA 22974
      View Details
    • $135,000

      Wooded Acreage Near Amenities

      10.15 wooded acres with easy access to amenities.
      1064 Hunters Lodge Rd, Troy, VA 22974
      View Details
    • Contact for pricing

      Industrial Lot in Zion Crossroads

      Industrial lot available in Zion Crossroads Industrial Park.
      Industrial Ct, Troy, VA 22974
      View Details
    • New
      $850,000
      25.53 Acres

      Rivanna Riverfront Land Opportunity

      25+ acre waterfront property near Charlottesville with recreational potential.
      Rivanna Rdg, Troy, VA 22974
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,880 SF

      Industrial Warehouse with Yard

      Warehouse with yard, parking, and overhead doors for lease.
      162 Industrial Way, Troy, VA 22974
      View Details
    • Contact for pricing

      Office/Industrial Space Near Zion Crossroads

      Office/industrial space for lease near Zion Crossroads and I-64.
      102 Industrial Way, Troy, VA 22974
      View Details
    • Contact for pricing
      12,593 SF

      Warehouse and Office Space Available

      Warehouse, light industrial, office, showroom, and retail space for lease.
      Better Living Dr, Troy, VA 22974
      View Details
    • Contact for pricing

      Flex Office/Warehouse Suite

      Fully conditioned office/warehouse space with a drive-in door, small office, and ample parking for efficient operations.
      31 Conestoga Way, Troy, VA 22974
      View Details
    • Contact for pricing

      Gordonsville Commercial Land for Lease

      Commercial land available for lease in Gordonsville, Virginia.
      75 Circle Pointe Dr, Gordonsville, VA 22974
      View Details
    • Contact for pricing

      Fluvanna County Build-To-Suit Land

      Approximately 5 acres of land available for build-to-suit projects.
      Starlite Park, Troy, VA 22974
      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.
    2969 Richmond Rd
    Troy, VA 22974
    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
    2969 Richmond Rd, Troy, VA, 22974
    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!