Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$620,000
Office Spaces
3241 Electric Rd Roanoke, VA 24018-6405
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-0547075
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1989
Total area
4,352 SF
Lot
1 ac (43,560 SF)
Zoning code
C1
APN
077.17-05-08
UPID
US87-0547075
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
-
Rhodes IP PLC Law Firm
-
Bill Meador Insurance Agency Insurance Agency
-
Lawson Realty Group, LLC Property Management Company
-
Blue Ridge Digital Film Production Television Studio
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$620k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$692k
Blend (final)
Blend
$620k
Owner & transaction history
Meador Properties LLC · 2 yrs held
Meador Properties LLC
since 2024
Last sale
$618,000
2 recorded transactions
Zoning & alternative use
C1 · Roanoke, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$860,000
+15.4%
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 Roanoke submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Roanoke 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
$620,000
ML approach
$620,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$745,000
Current use
MEDICAL BUILDING
$860,000
Change: +15% · Conversion: Easy
Blend value · Realmo final
$620k
Range $558k – $682k · ±10% · vs last sale $618k (Apr 12 2024)
Last sale anchor
$618k
Apr 12 2024
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
$142 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$6,997
Tax year 2024
Assessed value
$672,800
Assessed 2024
Previous assessed
$650,500
+3.4% YoY
Effective rate
1.04%
On assessed value
Assessed land
$198,900
Assessed improvement
$473,900
Land market value
$198,900
Improvement market value
$473,900
Total market value
$672,800
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 Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1989
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Units
1
Bathrooms
5
Total area
4,352 SF
Lot
1 ac (43,560 SF)
Zoning code
C1
APN
077.17-05-08
UPID
US87-0547075
Jurisdiction
ROANOKE
Zoning & alternative use
C1 · Roanoke, VA
Zoning C1 · permitted uses
C1 · Roanoke, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Roanoke. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$745,000
MEDICAL BUILDING
Est. value
$860,000
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
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
1989
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
1
Bathrooms
5
Lot
1 ac
Current owner
From public records · entity-resolved
Meador Properties LLC
Entity
Mailing address
6429 WESTSHIRE CT, ROANOKE, VA 24018-5226
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Apr 12, 2024
$618,000
Meador Properties LLC
Thirty Something LLC
Deed
$525,300 · First Citizens Bank & Trust Co
May 22, 2009
$1,302,275
Thirty Something LLC
Barton L S Living Trust
Grant 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 3241 Electric Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
