Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    401 Friends Way, Unit 405 Roanoke, VA 24012-1932

    Property Lookup

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

    401 Friends Way, Unit 405 Roanoke, VA 24012-1932

    View on Map
    • Garden apartment buildings
    • 65,634 SF
    • 3.42 lot acres
    Off-Market
    Last Sale Aug 12, 2022
    Property ID
    US87-0905377
    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
    $1,860,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Garden apartment buildings

    Property Details for 401 Friends Way

    Year built
    1975
    Lot size
    3.42 lot acres
    Property size
    65,634 SF
    Zone code
    C2S
    Property type
    Garden apartment buildings
    APN
    038.15-01-05
    APU
    38150105

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,180,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,536,000
      Market price range: $2.54M - $6.63M

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

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke
    County
    Roanoke
    State
    Virginia
    Longitude
    -79.9434
    Latitude
    37.3232
    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
    $37,981
    $401,500
    $3,250,500
    $3,652,000
    -
    $401,500
    $3,250,500
    $3,652,000

    Comparable in this City

    • Value Estimation by Request
      6,580 SF

      5520 Florist Rd

      GARDEN APT, COURT APT (5+ UNITS) • 6,580 SF
      5520 Florist Rd, Roanoke, VA 24012-1234
      View Details
    • Value Estimation by Request
      11,832 SF

      6154 Darby Rd

      GARDEN APT, COURT APT (5+ UNITS) • 11,832 SF
      6154 Darby Rd, Roanoke, VA 24012-1000
      View Details
    • Value Estimation
      $1,550,000
      51,864 SF

      107 Springbeauty St

      GARDEN APT, COURT APT (5+ UNITS) • 51,864 SF
      107 Springbeauty St, Roanoke, VA 24012-1986
      View Details
    • Value Estimation
      $1,550,000
      40,839 SF

      480 Bluebell Ln

      GARDEN APT, COURT APT (5+ UNITS) • 40,839 SF
      480 Bluebell Ln, Roanoke, VA 24012-2085
      View Details
    • Value Estimation
      $1,795,000
      35,796 SF

      420 Bluebell Ln

      GARDEN APT, COURT APT (5+ UNITS) • 35,796 SF
      420 Bluebell Ln, Roanoke, VA 24012-1991
      View Details
    • Value Estimation
      $1,285,000
      12,150 SF

      6139 Darby Rd

      GARDEN APT, COURT APT (5+ UNITS) • 12,150 SF
      6139 Darby Rd, Roanoke, VA 24012-1038
      View Details

    Similar Nearby for Sale

    • $1,649,655
      27,442 SF

      Multifamily Property with Laundry Facility

      Multifamily property featuring 24 units and onsite laundry.
      1606 Wayne St Northeast, Roanoke, VA 24012
      View Details
    • $276,665
      6,969 SF

      Roanoke Triplex with Lease Income

      Triplex in Roanoke, VA with existing leases and vacancy.
      3813 Shadylawn Ave Northwest, Roanoke, VA 24012
      View Details
    • New
      $350,000
      Pending

      New Construction Duplex in Roanoke

      New construction duplex with modern finishes, ideal for investment.
      703 Bibb St NE, Roanoke, VA 24012
      View Details
    • $550,000
      0.79 Acres

      Commercial Property on Williamson Road

      Prime commercial property with road frontage and development potential.
      2211 Williamson Rd NE, Roanoke, VA 24012
      View Details
    • $340,000
      Pending

      Roanoke Commercial Land For Sale

      4.7 acres of commercial or industrial land for sale.
      2921 Hollins Rd NE, Roanoke, VA 24012
      View Details
    • Contact for pricing
      6,000 SF

      Roanoke City Retail Building

      6,000 sq ft retail building in Roanoke City.
      3653 Williamson Rd, Roanoke, VA 24012
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail and Restaurant Space Available

      Retail and restaurant spaces for lease in Roanoke, Virginia.
      1287-1445 Towne Square Blvd NW, Roanoke, VA 24012
      View Details
    • Contact for pricing
      85,823 SF

      Hollins Road Warehouse Space Available

      85,823 SF of mezzanine warehouse space for rent.
      3330 Hollins Rd NE, Roanoke, VA 24012
      View Details
    • Contact for pricing
      20,000 SF

      Retail Space with High Visibility

      Retail space with exceptional traffic and frontage in dominant hub.
      5008 Airport Rd, Roanoke, VA 24012
      View Details
    • Contact for pricing
      5,000 SF

      Industrial Space Available for Lease

      5,000 square feet of industrial space for rent.
      1715 Granby St Ne, Roanoke, VA 24012
      View Details
    • Contact for pricing
      3,000 SF

      Medical/Professional Office Space Available

      3,000 SF medical/professional office space for lease.
      375 Hershberger Rd, Roanoke, VA 24012
      View Details
    • Contact for pricing

      Roanoke Commercial Property For Rent

      Commercial property available for rent in Roanoke, Virginia.
      1512 Plantation Rd, Roanoke, VA 24012
      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.
    401 Friends Way, Unit 405
    Roanoke, VA 24012-1932
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!