450 Church St Fincastle, VA 24090-5302
Property profile & analytics
450 Church St, Fincastle, VA 24090-5302
- Commercial real estate
- 1.08 lot acres
Property ID
US87-1717118
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.
Location Intelligence
Current Use by Public Records
- Commercial real estate
Property Details for 450 Church St
- Lot size
- 1.08 lot acres
- Zone code
- B-1
- Property type
- Commercial real estate
- APN
- 73-126
- APU
- 73126
Description
This exceptional investment opportunity presents a 4,554 square foot, single-tenant building situated at 450 S Church St, Fincastle, VA 24090. The property, constructed in 1998, boasts a Class B rating and is currently 100% occupied by the Church of Jesus Christ of Latter-day Saints under a modified lease with a corporate guarantee. The lease commenced August 1, 2021, and expires September 30, 2026, leaving approximately 1.9 years remaining. The lease includes two five-year renewal options, providing long-term income stability. The building features 20 parking spaces and sits on a 1.08-acre lot zoned B-1. The current annual net operating income (NOI) is $50,254, yielding a 7.74% capitalization rate. Rent increases are built into the lease at 2% per year. The asking price is $649,500, translating to $142.62 per square foot. The property is highly visible along Route 220 N, just outside the historic town of Fincastle. Recent renovations were completed, with rent commencement in November 2021. This is a strong, stable investment with a proven track record and significant upside potential. The property is offered as a fee simple sale.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Fincastle
- County
- Botetourt
- State
- Virginia
- Longitude
- -79.8766
- Latitude
- 37.4925
- 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
0
$0.00
$108,000
$356,800
$464,800
-
$108,000
$356,800
$464,800
