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Property profile & analytics
OFF-MARKET
Estimated value
$875,000
Apartment buildings
5 Canter Ln Lexington, VA 24450-3782
Entity Owned
19-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-2841500
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2006
Total area
9,701 SF
Lot
4.01 ac (174,763 SF)
Zoning code
R-1
APN
62 A 45C
UPID
US87-2841500
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$875k
Owner & transaction history
Hunt Ridge Associates LP · 19 yrs held
Hunt Ridge Associates LP
since 2006
2 recorded transactions
Zoning & alternative use
R-1 · Lexington, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
General Residential District (R-1). This district is composed of certain moderate-density residential areas, plus certain open areas where similar development appears likely to occur. The regulations for this district are designed to stabilize and protect the essential characteristics of the district and to promote and encourage, insofar as is compatible wit…
Zone name
General Residential
General category
RESIDENTIAL
Zone area
755.89 ac
Top alternative use upside
Commercial (general)
$990,000
+7.2%
Retail stores
$975,000
+5.4%
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 Lexington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lexington 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$925,000
Current use
COMMERCIAL (GENERAL)
$990,000
Change: +7% · Conversion: Moderate
RETAIL STORES
$975,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$875k
Range $788k – $963k · ±10%
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
$90 / 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
Property tax & assessments
Assessed value
$2,348,100
Assessed 2023
Previous assessed
$3,207,900
-26.8% YoY
Assessed land
$260,800
Assessed improvement
$2,087,300
Land market value
$260,800
Improvement market value
$2,087,300
Total market value
$2,348,100
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2006
Heating
HEAT PUMP
Cooling
YES
Buildings
1
Stories
2
Units
6
Rooms
18
Bathrooms
15
Total area
9,701 SF
Lot
4.01 ac (174,763 SF)
Zoning code
R-1
APN
62 A 45C
UPID
US87-2841500
Jurisdiction
ROCKBRIDGE
Zoning & alternative use
R-1 · Lexington, VAZoning R-1 · permitted uses
R-1 · Lexington, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
General Residential District (R-1). This district is composed of certain moderate-density residential areas, plus certain open areas where similar development appears likely to occur. The regulations for this district are designed to stabilize and protect the essential characteristics of the district and to promote and encourage, insofar as is compatible with the intensity of land use, a suitable environment for family life composed of a family population. For this reason, the number of unrelated individuals permitted to constitute a household unit is limited to a maximum of three in this district. Residential structures for both permanent and transient occupancy, including institutions, may be authorized. B.
Zone name
General Residential
General category
RESIDENTIAL
Zone area
755.89 ac
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$925,000
COMMERCIAL (GENERAL)
Est. value
$990,000
RETAIL STORES
Est. value
$975,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
RETAIL STORES
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
2006
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Buildings
1
Units
6
Rooms
18
Bathrooms
15
Lot
4.01 ac
Current owner
From public records · entity-resolved
Hunt Ridge Associates LP
Entity
Free & Clear · 19 yrs held
Mailing address
448 DEPOT ST NE, CHRISTIANSBURG, VA 24073-2050
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 27, 2006
—
Hunt Ridge Associates LP
Akb Development LLC
Deed
—
Mar 30, 2006
—
Akb Development LLC
Hedi Investments INC
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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