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Property profile & analytics
OFF-MARKET
Estimated value
$1,185,000
Industrial properties
438 Kessler Ml Rd Salem, VA 24153-4447
Entity Owned
21-yr Hold
Free & Clear
Property ID
US87-0404269
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1950
Total area
43,172 SF
Lot
6.76 ac (294,378 SF)
Zoning code
LM
APN
56-2-1
UPID
US87-0404269
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
-
Construction Materials Group Big Box & Wholesale Store Construction Company
-
Rockingham Steel Factory Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.19M
Owner & transaction history
Conmat Properties Lc · 21 yrs held
Conmat Properties Lc
since 2005
1 recorded transaction
Zoning & alternative use
LM · Salem, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The LM Light Manufacturing District is created to establish and preserve areas within the city that are suitable for business and light industrial uses. LM Light Manufacturing districts are the location of a significant portion of the city's employment base
Zone name
Light Manufacturing District
General category
INDUSTRIAL
Zone area
344.56 ac
Source
Realmo
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 Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$27 / 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
$20,731
Tax year 2023
Assessed value
$1,727,600
Assessed 2023
Previous assessed
$1,545,200
+11.8% YoY
Effective rate
1.20%
On assessed value
Assessed land
$308,400
Assessed improvement
$1,419,200
Land market value
$308,400
Improvement market value
$1,419,200
Total market value
$1,727,600
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1950
Heating
CENTRAL
Stories
1
Bathrooms
2
Total area
43,172 SF
Lot
6.76 ac (294,378 SF)
Zoning code
LM
APN
56-2-1
UPID
US87-0404269
Jurisdiction
SALEM CITY
Zoning & alternative use
LM · Salem, VAZoning LM · permitted uses
LM · Salem, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The LM Light Manufacturing District is created to establish and preserve areas within the city that are suitable for business and light industrial uses. LM Light Manufacturing districts are the location of a significant portion of the city's employment base
Zone name
Light Manufacturing District
General category
INDUSTRIAL
Zone area
344.56 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1950
Heating
CENTRAL
Stories
1
Bathrooms
2
Lot
6.76 ac
Current owner
From public records · entity-resolved
Conmat Properties Lc
Entity
Free & Clear · 21 yrs held
Mailing address
PO BOX 1347, HARRISONBURG, VA 22803-1347
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 27, 2005
$314,000
Conmat Properties Lc
Resco Steel Products Corp
Grant Deed
—
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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