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Property profile & analytics
OFF-MARKET
Estimated value
$940,000
Office buildings
320 Commonwealth W Blvd Martinsville, VA 24112-1823
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US87-3228327
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2004
Total area
7,431 SF
Lot
1.38 ac (60,026 SF)
Zoning code
C-C
APN
21 (01 )00 /N11
UPID
US87-3228327
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Social Security Administration Social Security Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$980k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$940k
Blend (final)
Blend
$940k
Owner & transaction history
Wise Developments LLC · 3 yrs held
Wise Developments LLC
since 2023
Last sale
$904,838
2 recorded transactions
Zoning & alternative use
C-C · Martinsville, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.5M
+145.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Martinsville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Martinsville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$970,000
ML approach
$980,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$625,000
Current use
COMMERCIAL (GENERAL)
$1,530,000
Change: +145% · Conversion: Easy
Blend value · Realmo final
$940k
Range $846k – $1.03M · ±10% · vs last sale $905k (Feb 6 2023)
Last sale anchor
$905k
Feb 6 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$126 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$12,092
Tax year 2023
Assessed value
$1,221,400
Assessed 2023
Previous assessed
$1,221,400
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$420,200
Assessed improvement
$801,200
Land market value
$420,200
Improvement market value
$801,200
Total market value
$1,221,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2004
Total area
7,431 SF
Lot
1.38 ac (60,026 SF)
Zoning code
C-C
APN
21 (01 )00 /N11
UPID
US87-3228327
Jurisdiction
MARTINSVILLE CITY
Zoning & alternative use
C-C · Martinsville, VA
Zoning C-C · permitted uses
C-C · Martinsville, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Martinsville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$625,000
COMMERCIAL (GENERAL)
Est. value
$1.5M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2004
Lot
1.38 ac
Current owner
From public records · entity-resolved
Wise Developments LLC
Entity
Mailing address
PO BOX 804, MOUNT AIRY, NC 27030-0804
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 6, 2023
$904,837
Wise Developments LLC
Glenn Feldmann Darby And Doodlatte
Special Warranty Deed
$688,000 · Surrey Bank And Trust
Nov 10, 2022
—
The Theqfilos G Balabanis Trust Fun
T R Properties INC
Special Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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