Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3199 North Northfork Rd Elliston, VA 24087

    • Commercial real estate
    • 3,516 SF
    • 0.61 lot acres
    For Sale
    View listing
    $299,900
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1407127
    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

    • Commercial real estate

    Property Details for 3199 North Northfork Rd

    Year built
    1970
    Lot size
    0.61 lot acres
    Property size
    3,516 SF
    Zone code
    A1
    Property type
    Commercial real estate
    APN
    058- 2 3A
    APU
    05823A

    Description

    This exceptional commercial property at 3199 Northfork Road, Elliston, VA, presents a unique investment opportunity. Previously a thriving Italian restaurant (Mountain View), this turn-key establishment is ready for immediate operation. The sale includes all existing business equipment, allowing for a seamless transition. Approved for up to 72 seats, the restaurant boasts a cozy yet spacious layout perfect for dining, events, or private functions. Enjoy breathtaking mountain views from the property. A reliable standby generator ensures uninterrupted service, while efficient propane heating provides year-round comfort. The expansive 2.53-acre lot offers significant mixed-use potential, beyond the existing restaurant building. Ample parking is available. This well-established location in the heart of Elliston benefits from a strong foundation as a beloved local eatery, primed for continued success under new ownership. The asking price is $349,900. Additional photos will be available soon. Don't miss this chance to acquire a fully equipped restaurant with significant land in a desirable location.

    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
    Elliston
    County
    Montgomery
    State
    Virginia
    Longitude
    -80.284
    Latitude
    37.2132
    CBSA code
    13980
    CBSA name
    BLACKSBURG-CHRISTIANSBURG-RADFORD, 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
    2024
    $12
    $30,300
    $126,600
    $156,900
    -
    $30,300
    $126,600
    $156,900

    Comparable in this City

    • Value Estimation
      $980,000
      32,620 SF

      5100 Enterprise Dr

      COMMERCIAL (GENERAL) • 32,620 SF
      5100 Enterprise Dr, Elliston, VA 24087-3155
      View Details
    • Value Estimation by Request
      14,472 SF

      1931 Big Spg Dr

      COMMERCIAL (GENERAL) • 14,472 SF
      1931 Big Spg Dr, Elliston, VA 24087-3541
      View Details
    • Value Estimation by Request

      7816 Roanoke Rd

      COMMERCIAL (GENERAL)
      7816 Roanoke Rd, Elliston, VA 24087-4365
      View Details
    • Value Estimation by Request
      2.01 Acres

      5209 Brookman Dr

      COMMERCIAL (GENERAL) • 2.01 Acres
      5209 Brookman Dr, Elliston, VA 24087-3426
      View Details
    • Value Estimation by Request
      4,000 SF

      5214 Enterprise Dr

      COMMERCIAL (GENERAL) • 4,000 SF
      5214 Enterprise Dr, Elliston, VA 24087-3152
      View Details
    • Value Estimation by Request
      6.00 Acres

      6583 Stones Keep Ln

      COMMERCIAL (GENERAL) • 6.00 Acres
      6583 Stones Keep Ln, Elliston, VA 24087-2344
      View Details

    Similar Nearby for Sale

    • $349,900
      2.53 Acres

      Elliston Restaurant & 2.5 Acres

      Turn-key restaurant, mountain views, 2.5 acres.
      3199 Northfork Rd, Elliston, VA 24087
      View Details
    • $1,800,000

      High-Traffic Site Near I-81

      Visible commercial land near I-81, suitable for various businesses.
      5110 N Fork Rd, Elliston, VA 24087
      View Details
    • $299,900
      2.53 Acres

      Turn-Key Restaurant with Mountain Views

      Restaurant with equipment, seating, generator, and mountain views.
      3199 North Northfork Rd, Elliston, VA 24087
      View Details
    • $349,900
      3,516 SF

      Elliston Restaurant - Turnkey Opportunity

      Established Restaurant, Mountain Views, 3516 SF
      3199 Fork Rd, Elliston, VA 24087
      View Details
    • $75,500
      5.48 Acres

      Elliston Land Ideal Home Site

      5.481-acre lot perfect for building your dream home.
      2930 New Ridge Rd, Elliston, VA 24087
      View Details
    • $499,000
      7.20 Acres

      7.2 Acres Near Virginia Tech

      7.2-acre property with two homes, near Virginia Tech.
      2351 Reese Mountain Rd, Elliston, VA 24087
      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.
    3199 North Northfork Rd
    Elliston, VA 24087
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.