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

    348 Prt Republic Rd Waynesboro, VA 22980-3803

    • Residential income homes
    • 3,324 SF
    OFF-MARKET
    Last Sale
    Nov 14, 2022
    $415,000
    Value Estimations
    $425,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-2972566
    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

    • Residential income homes

    Property Details for 348 Prt Republic Rd

    Year built
    1995
    Property size
    3,324 SF
    Zone code
    RG-5
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    36 4 F- 8
    APU
    364F8

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $425,000
      ML approach
      $420,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $325,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Waynesboro
    County
    Waynesboro City
    State
    Virginia
    Longitude
    -78.8855
    Latitude
    38.0748
    CBSA code
    44420
    CBSA name
    STAUNTON-WAYNESBORO, 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
    $2,408
    $30,000
    $282,700
    $312,700
    -
    $30,000
    $282,700
    $312,700

    Comparable in this City

    • Value Estimation
      $570,000
      5,108 SF

      100 Waverley Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,108 SF
      100 Waverley Dr, Waynesboro, VA 22980-5283
      View Details
    • Value Estimation
      $220,000
      2,402 SF

      440 Market Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,402 SF
      440 Market Ave, Waynesboro, VA 22980-4775
      View Details
    • Value Estimation
      $240,000
      3,860 SF

      1206 Stayman Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,860 SF
      1206 Stayman Ave, Waynesboro, VA 22980-5683
      View Details
    • Value Estimation
      $310,000
      4,840 SF

      444 Wayne Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,840 SF
      444 Wayne Ave, Waynesboro, VA 22980-4766
      View Details
    • Value Estimation
      $235,000
      2,982 SF

      212 Winchester Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,982 SF
      212 Winchester Ave, Waynesboro, VA 22980-5851
      View Details
    • Value Estimation
      $280,000
      4,302 SF

      525 Cherry Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,302 SF
      525 Cherry Ave, Waynesboro, VA 22980-4455
      View Details

    Similar Nearby for Sale

    • $1,200,000

      Mixed-Use Development Opportunity

      Mixed-use development opportunity with plans for retail and residential.
      322 W Main St, Waynesboro, VA 22980
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    • $295,700
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      Development Opportunity in Waynesboro, VA

      2.95-acre property with development potential in an Opportunity Zone.
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    • Contact for pricing
      0.50 Acres

      Prime Waynesboro Commercial Land

      I-64 Frontage, .5-25 Acres Available
      0 Tbd Windigrove Dr, Waynesboro, VA 22980
      View Details
    • $590,000
      1.65 Acres

      Waynesboro Marketplace Development Site

      Prime Retail Opportunity, High Visibility
      1980 Rosser Ave, Waynesboro, VA 22980
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      Prime Waynesboro Commercial Land

      11-acre commercial lot, I-64 visibility.
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    • $185,000
      Pending

      Augusta County Acreage For Sale

      12.68 acres in Augusta County near Waynesboro, Virginia.
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    Similar Nearby for Lease

    • Contact for pricing
      163,090 SF

      Willow Oak Plaza Retail Center

      Waynesboro, VA retail space available.
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      View Details
    • $1.00 SF/Yr

      Downtown Waynesboro Commercial Office Building

      Centrally located office building with high visibility and nearby amenities.
      110 N Wayne Ave, Waynesboro, VA 22980
      View Details
    • New
      $1.00 SF/Yr

      Renovated Office Space on Route 250

      Ground-floor office space with private entrance, multiple offices, and kitchen.
      20 Stoneridge Dr, Waynesboro, VA 22980
      View Details
    • $1.00 SF/Yr
      287,060 SF

      Versatile Industrial Facility Near I-64

      Industrial facility ideal for warehousing, logistics, or light manufacturing.
      2000 S Delphine Ave, Waynesboro, VA 22980
      View Details
    • $1.00 SF/Yr

      Waynesboro Office Condo For Rent

      Office condo in Waynesboro, VA with functional space.
      25 Stoneridge Dr, Waynesboro, VA 22980
      View Details
    • $1.00 SF/Yr

      Private Offices in Waynesboro, VA

      Private offices for rent with utilities included and conference room access.
      362 S Laurel Ave, Waynesboro, VA 22980
      View Details
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    348 Prt Republic Rd
    Waynesboro, VA 22980-3803
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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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