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    Property profile & analytics

    3735 Challenger Ave Roanoke, VA 24012

    • Turn key restaurants
    • 4,748 SF
    • 1.54 lot acres
    OFF-MARKET
    Value Estimations
    $370,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-2459157
    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

    • Turn key restaurants

    Property Details for 3735 Challenger Ave

    Year built
    1998
    Lot size
    1.54 lot acres
    Property size
    4,748 SF
    Property type
    Turn key restaurants
    APN
    050.01-01-01.02-0000
    APU
    50010101020000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $365,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $447,000
      Market price range: $319k - $736k

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

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke
    County
    Roanoke
    State
    Virginia
    Longitude
    -79.8863
    Latitude
    37.3085
    CBSA code
    40220
    CBSA name
    ROANOKE, 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
    2024
    $8,857
    $342,800
    $508,800
    $851,600
    -
    $342,800
    $508,800
    $851,600

    Comparable in this City

    • Value Estimation
      $325,000
      2,112 SF

      5508 Williamson Rd

      RESTAURANT • 2,112 SF
      5508 Williamson Rd, Roanoke, VA 24012-1440
      View Details
    • Value Estimation
      $315,000
      2,724 SF

      5436 Williamson Rd

      RESTAURANT • 2,724 SF
      5436 Williamson Rd, Roanoke, VA 24012-1438
      View Details
    • Value Estimation
      $265,000
      2,100 SF

      5435 Williamson Rd

      RESTAURANT • 2,100 SF
      5435 Williamson Rd, Roanoke, VA 24012-1437
      View Details
    • Value Estimation
      $380,000
      5,046 SF

      4510 Challenger Ave

      RESTAURANT • 5,046 SF
      4510 Challenger Ave, Roanoke, VA 24012-7028
      View Details
    • Value Estimation
      $160,000
      3,070 SF

      5933 Williamson Rd

      RESTAURANT • 3,070 SF
      5933 Williamson Rd, Roanoke, VA 24012-1243
      View Details
    • Value Estimation
      $1,610,000
      2,506 SF

      5442 Williamson Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,506 SF
      5442 Williamson Rd, Roanoke, VA 24012-1438
      View Details

    Similar Nearby for Sale

    • $7,325,000
      52,700 SF

      Market Square East Shopping Center

      Retail Center, Roanoke, VA - High Traffic
      3424 Orange Ave, Roanoke, VA 24012
      View Details
    • $750,000
      6,000 SF

      Prime Roanoke Industrial Showroom

      6,000 SF Office Showroom - Redevelopment Opportunity
      2945 Orange Ave, Roanoke, VA 24012
      View Details
    • $4,500,000
      15.72 Acres

      Rare Roanoke Industrial Land

      15.72 Acres, C2 Zoning, Prime Location
      0 Valley Gateway Blvd, Roanoke, VA 24012
      View Details
    • $550,000
      0.79 Acres

      Commercial Property on Williamson Road

      Two commercial buildings with high potential on a 0.79-acre lot.
      2211 Williamson Rd NE, Roanoke, VA 24012
      View Details
    • $476,850
      0.32 Acres

      Roanoke Office and Retail Space

      Well-appointed, accessible office/retail space near interstate, airport, and downtown.
      624-626 Abney Rd, Roanoke, VA 24012
      View Details
    • $469,000
      6,484 SF

      Retail Opportunity on High-Traffic Street

      6,484 SF building on 0.303 acres with CG zoning.
      1519 Williamson Rd NE, Roanoke, VA 24012
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      302,135 SF

      Towne Square Retail Center

      Prime Roanoke Retail Space Available
      1287-1445 Towne Square Blvd, Roanoke, VA 24012
      View Details
    • Contact for pricing
      7,981 SF

      Restaurant Space Near Valley View

      7,981 SF restaurant space with high visibility and parking.
      4740 Valley View Blvd NW, Roanoke, VA 24012
      View Details
    • $20 SF/Yr
      1,200 SF

      Restaurant Space in Roanoke

      High-visibility restaurant space available near Roanoke Centre.
      3621 Blue Hills Village Dr NE, Roanoke, VA 24012
      View Details
    • $9 SF/Yr
      9,259 SF

      Automotive Property on Williamson Road

      Automotive property built in 1965, continuously operated since.
      2002 Williamson Rd NE, Roanoke, VA 24012
      View Details
    • $5 SF/Yr
      3,400 SF

      Retail Space with High Visibility

      Retail space with exceptional traffic and frontage in dominant hub.
      5008 Airport Rd, Roanoke, VA 24012
      View Details
    • $7 SF/Yr
      10,800 SF

      Warehouse/Flex/Showroom Space Available

      10,800 SF warehouse/flex/showroom space for lease.
      621 Fugate Rd, Roanoke, VA 24012
      View Details
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    3735 Challenger Ave
    Roanoke, VA 24012
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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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