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Property profile & analytics
OFF-MARKET
Estimated value
$2,075,000
Office buildings
433 Commonwealth E Blvd Martinsville, VA 24112-2020
Entity Owned
1-yr Hold
Free & Clear
Property ID
US87-3099237
Property summary
AI-generated overview
This 12,229 square foot, two-story office building at 433 Commonwealth Blvd E, Martinsville, VA 24112, is available for lease. Built in 1981, this former bank headquarters sits on a 1.1-acre lot and is zoned ED-MA. The property features numerous large private offices, spacious training and meeting rooms, a central reception desk, and a comfortable waiting area. A wide spiral staircase connects the ground and second floors. Flexible space options are available, with a minimum divisible space of 5,734 square feet and a maximum contiguous space of 6,495 square feet. The entire 12,229 square feet is currently vacant and ready for immediate occupancy. Ideal for professional services, back-office operations, medical offices, executive suites, or co-working spaces. The building does not have elevators. The property's excellent condition and convenient location make it a highly desirable opportunity. APN: 000980690.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1981
Total area
17,578 SF
Lot
1.14 ac (49,484 SF)
Zoning code
ED-MA
APN
25 (11 )00 /C1R
UPID
US87-3099237
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
-
Martinsville Center for Sight Physician
-
Grace Network - Food Distribution Center Food Bank Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.08M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.09M
Blend (final)
Blend
$2.08M
Owner & transaction history
Dandelion Real Estate LLC · 1 yrs held
Dandelion Real Estate LLC
since 2025
Last sale
$2.1M
3 recorded transactions
Zoning & alternative use
ED-MA · Martinsville, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Martinsville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Martinsville 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
$1,840,000
ML approach
$2,080,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,475,000
Current use
Blend value · Realmo final
$2.08M
Range $1.87M – $2.28M · ±10% · vs last sale $2.06M (Dec 15 2021)
Last sale anchor
$2.06M
Dec 15 2021
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
$118 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$11,980
Tax year 2023
Assessed value
$1,210,100
Assessed 2023
Previous assessed
$1,210,100
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$99,000
Assessed improvement
$1,111,100
Land market value
$99,000
Improvement market value
$1,111,100
Total market value
$1,210,100
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 buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1981
Total area
17,578 SF
Lot
1.14 ac (49,484 SF)
Zoning code
ED-MA
APN
25 (11 )00 /C1R
UPID
US87-3099237
Jurisdiction
MARTINSVILLE CITY
Zoning & alternative use
ED-MA · Martinsville, VA
Zoning ED-MA · permitted uses
ED-MA · Martinsville, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Martinsville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.5M
OFFICE BUILDING Current
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
1981
Lot
1.14 ac
Current owner
From public records · entity-resolved
Dandelion Real Estate LLC
Entity
Free & Clear · 1 yrs held
Mailing address
433 COMMONWEALTH BLVD E, MARTINSVILLE, VA 24112-2020
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 16, 2025
$900,000
Dandelion Real Estate LLC
Mine 2021 Trust
Warranty Deed
—
Dec 15, 2021
—
Robert W Mine
Robert W Mine
Intrafamily Transfer
related
—
Feb 1, 2012
$2,064,000
Robert W Mine
River Investors LLC
Warranty Deed
$604,000 · River Community Bank NA
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.
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