Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3311 Riverside Dr Danville, VA 24541-3430
    Property profile & analytics

    3311 Riverside Dr, Danville, VA 24541-3430

    View on Map
    • Warehouses
    • 95,815 SF
    • 4.19 lot acres
    Off-Market
    Last Sale May 2, 2022
    $2,500,000
    Property ID
    US87-1380215
    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
    $3,230,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • (Future) City Storage / (Bike/Boat/Book/etc) Store / Arcade & Gaming Center
    • Sears Heating and Air Conditioning / HVAC Service / General Contractor
    • City Storage Danville / Storage Facility

    Property Details for 3311 Riverside Dr

    Year built
    1963
    Lot size
    4.19 lot acres
    Zone code
    HIGHWAY RETAIL COMM
    Property type
    Warehouses
    APN
    51741
    APU
    51741

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 19, 2025 — Vg Danville Storage LLC — Deed · related $34.5M · Orix Re Holdings LLC
    Jul 21, 2025 $9,530,000 Vg Danville Storage LLC City Storage Danville LLC Special Warranty Deed —
    Jun 10, 2024 — City Storage Danville LLC — Deed · related $4M · First American Tr Services Of Virginia L
    Feb 24, 2023 — City Storage Danville LLC — Deed · related $3.6M · Surrey Bank And Trust
    Oct 14, 2022 — City Storage Danville LLC — Deed · related $600k · Surrey Bank
    Jun 21, 2022 — City Storage Danville LLC 3311 Riverside Drive LLC Correction Deed · related —
    May 2, 2022 $2,500,000 City Storage Danville LLC 3311 Riverside Drive LLC Warranty Deed $1.2M · Surrey Bank And Trust
    Jan 4, 2021 $1,750,000 3311 Riverside Drive LLC The Daniel Group INC Warranty Deed $1.5M · Surrey Bank And Trust

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,290,000
      ML approach
      $3,225,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $2,720,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Danville
    County
    Danville City
    State
    Virginia
    Longitude
    -79.4249
    Latitude
    36.5836
    CBSA code
    19260
    CBSA name
    DANVILLE, 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
    2021
    $12,846
    $362,200
    $1,862,900
    $2,225,100
    -
    $362,200
    $1,862,900
    $2,225,100

    Comparable in this City

    • Value Estimation by Request
      7,125 SF

      408 Cabell St

      WAREHOUSE, STORAGE
      408 Cabell St, Danville, VA 24541
      View Details
    • Value Estimation by Request
      2,310 SF

      422 Industrial Ave

      WAREHOUSE, STORAGE
      422 Industrial Ave, Danville, VA 24541-2136
      View Details
    • Value Estimation by Request
      2,280 SF

      815 Lynn St

      WAREHOUSE, STORAGE
      815 Lynn St, Danville, VA 24541
      View Details
    • Value Estimation by Request
      14,640 SF

      518 Craghead St

      WAREHOUSE, STORAGE
      518 Craghead St, Danville, VA 24541
      View Details
    • Value Estimation by Request
      2,040 SF

      530 Newton St

      WAREHOUSE, STORAGE
      530 Newton St, Danville, VA 24541
      View Details
    • Value Estimation by Request
      7,125 SF

      406 Cabell St

      WAREHOUSE, STORAGE
      406 Cabell St, Danville, VA 24541
      View Details

    Similar Nearby for Sale

    • $595,000
      14,810 SF

      Historic Danville Warehouse Conversion Potential

      Historic warehouse with condo/commercial conversion potential near Dan River.
      335 Floyd St, Danville, VA 24541
      View Details
    • Contact for pricing
      44,000 SF

      44,000 SF Mixed-Use Property

      44,000 SF mixed-use property on over 20 acres.
      239 Mayfield Rd, Danville, VA 24541
      View Details
    • $49,900
      0.92 Acres

      Residential Land in Upscale Danville

      Prime lots in Danville, near restaurants and shopping centers.
      Westhaven Dr, Danville, VA 24541
      View Details
    • Contact for pricing

      Cleared Commercial Land for Development

      12.98 acres of commercial land ready for development.
      Franklin Turnpike/Route 41, Danville, VA 24541
      View Details
    • $349,000
      31.63 Acres

      Undeveloped Land Near Sandy River

      31+ acres of land with riverfront property in Danville, VA.
      Hanks Ln, Danville, VA 24541
      View Details
    • Contact for pricing

      High Visibility Retail Land Available

      Up to 6.2 acres available in high visibility retail area.
      Sandy Ct, Danville, VA 24541
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      14,744 SF

      Warehouse/Showroom Space For Lease/Sale

      15,000 SF warehouse/showroom available for lease or sale.
      778 Westover Dr, Danville, VA 24541
      View Details
    • Contact for pricing
      3,800 SF

      Danville Shopping Center Retail Space

      Retail space available in a 235,000 SF shopping center.
      114 Wooding Ave, Danville, VA 24541
      View Details
    • Contact for pricing

      Retail Space For Rent

      Retail space available in Danville, Virginia with high visibility.
      3360 Riverside Dr, Danville, VA 24541
      View Details
    • Contact for pricing
      11,540 SF

      Danville Shopping Center Retail Space

      Retail space in a 235,000 SF shopping center.
      607-661 W Main St, Danville, VA 24541
      View Details
    • Contact for pricing
      2,100 SF

      Retail Space Near Averett University

      2,100 SF retail space in a 235,000 SF center.
      605 W Main St, Danville, VA 24541
      View Details
    • Contact for pricing

      New Parking Lot Available

      New parking lot with large end cap near Averett University.
      Wooding Ave, Danville, VA 24541
      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.
    3311 Riverside Dr
    Danville, VA 24541-3430
    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
    3311 Riverside Dr, Danville, VA, 24541
    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!