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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    32 Main St Martinsville, VA 24112-2722

    • Retail space
    • 1,460 SF
    • 0.03 lot acres
    OFF-MARKET
    Last Sale
    May 05, 2021
    $25,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-2894167
    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 32 Main St

    Year built
    1936
    Lot size
    0.03 lot acres
    Property size
    1,460 SF
    Zone code
    C-UB
    Property type
    Retail space
    APN
    32 (01 )F /51
    APU
    3201F51

    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
    Martinsville
    County
    Martinsville City
    State
    Virginia
    Longitude
    -79.874
    Latitude
    36.6921
    CBSA code
    32300
    CBSA name
    MARTINSVILLE, VA MICROPOLITAN 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
    $535
    $5,100
    $48,900
    $54,000
    -
    $5,100
    $48,900
    $54,000

    Comparable in this City

    • Value Estimation
      $240,000
      560 SF

      401 Brg S St

      RETAIL STORES (PERSONAL SERVICES) • 560 SF
      401 Brg S St, Martinsville, VA 24112-3609
      View Details
    • Value Estimation
      $250,000
      6,400 SF

      21 Main St

      RETAIL STORES (PERSONAL SERVICES) • 6,400 SF
      21 Main St, Martinsville, VA 24112-2719
      View Details
    • Value Estimation
      $245,000
      1,220 SF

      54 Main St

      RETAIL STORES (PERSONAL SERVICES) • 1,220 SF
      54 Main St, Martinsville, VA 24112-2722
      View Details
    • Value Estimation
      $300,000
      7,920 SF

      29 Main St

      RETAIL STORES (PERSONAL SERVICES) • 7,920 SF
      29 Main St, Martinsville, VA 24112-2719
      View Details
    • Value Estimation
      $320,000
      6,630 SF

      15 Church St

      RETAIL STORES (PERSONAL SERVICES) • 6,630 SF
      15 Church St, Martinsville, VA 24112-6207
      View Details
    • Value Estimation
      $235,000
      6,288 SF

      105 Jones St

      RETAIL STORES (PERSONAL SERVICES) • 6,288 SF
      105 Jones St, Martinsville, VA 24112
      View Details

    Similar Nearby for Sale

    • $365,000
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      Retail Building on High-Traffic Corridor

      2,048 SF retail building on 0.46 acre lot.
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      Martinsville Commercial Opportunity For Sale

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      Martinsville Commercial Building For Sale

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      Renovated mixed-use property with residential and commercial spaces in Martinsville.
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      Martinsville QSR Investment Opportunity

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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Martinsville

      Retail space available on Commonwealth Blvd in Martinsville, VA.
      100 West Commonwealth Blvd, Martinsville, VA 24112
      View Details
    • $13 SF/Yr
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      Martinsville Retail Space for Lease

      13,569 SF Former Pharmacy, High Traffic
      2707 Greensboro Rd, Martinsville, VA 24112
      View Details
    • Contact for pricing
      77,000 SF

      Cloverleaf Shopping Center Investment

      Martinsville, VA retail center opportunity
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      288,254 SF

      Martinsville Retail Center Investment

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      213,869 SF

      Patrick Henry Mall Office Suites

      Martinsville, VA Executive Office Space Available
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    • $10 SF/Yr
      5,559 SF

      Uptown Martinsville Office Space

      Prime Office Suites, Flexible Layout
      26 Church St, Martinsville, VA 24112
      View Details
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    32 Main St
    Martinsville, VA 24112-2722
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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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