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

    5008 Airport Rd Roanoke, VA 24012

    • Industrial properties
    • 22,136 SF
    • 18.73 lot acres
    For Lease
    View listing
    $5 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1013569
    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.

    Current Use by Public Records

    • Magic City Kitchen Remodeling Experts / Hardware & Home Improvement / Kitchen & Bath Showroom
    • Advance Auto Parts / Auto Parts Store
    • UPS Access Point location / Courier Service / Postal Service

    Property Details for 5008 Airport Rd

    Year built
    1961
    Construction
    TYPE NOT SPECIFIED
    Lot size
    18.73 lot acres
    Property size
    22,136 SF
    Zone code
    CLS
    Property type
    Industrial properties
    Property subtype
    Industrial live-work properties
    APN
    666-0103
    APU
    6660103

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,580,000
      6.5%
      $4,230,000
      7%
      $3,930,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,882,000
      Market price range: $1.58M - $4.88M
      AI Estimate
      $3,362,000
      Market price range: $1.05M - $3.36M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,105,000
      Current use
      MEDICAL BUILDING
      $4,385,000
      Change: +41% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke
    County
    Roanoke City
    State
    Virginia
    Longitude
    -79.9584
    Latitude
    37.3177
    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
    $146,780
    $4,416,800
    $4,800,600
    $9,217,400
    -
    $4,416,800
    $4,800,600
    $9,217,400

    Comparable in this City

    • Value Estimation by Request
      1.25 Acres

      4824 Vly Vw NW Blvd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 1.25 Acres
      4824 Vly Vw NW Blvd, Roanoke, VA 24012-2018
      View Details
    • Value Estimation by Request
      0.21 Acres

      3122 Williamson NW Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 0.21 Acres
      3122 Williamson NW Rd, Roanoke, VA 24012-4316
      View Details
    • Value Estimation
      $500,000
      2.21 Acres

      5737 Airport NW Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 2.21 Acres
      5737 Airport NW Rd, Roanoke, VA 24012-1121
      View Details
    • Value Estimation
      $580,000
      4.76 Acres

      1521 Hershberger NW Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 4.76 Acres
      1521 Hershberger NW Rd, Roanoke, VA 24012-7319
      View Details
    • Value Estimation by Request
      0.17 Acres

      2930 Dell NE Ave

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 0.17 Acres
      2930 Dell NE Ave, Roanoke, VA 24012-6630
      View Details
    • Value Estimation by Request
      3,780 SF

      3218 Shenandoah Vly NE Ave

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 3,780 SF
      3218 Shenandoah Vly NE Ave, Roanoke, VA 24012-3751
      View Details

    Similar Nearby for Sale

    • $650,000
      4,608 SF

      Prime Roanoke Warehouse - $650K

      Vacant industrial warehouse, 4,608 sq ft.
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      Rare Roanoke Industrial Land

      15.72 Acres, C2 Zoning, Prime Location
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    • $750,000
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      Prime Roanoke Industrial Showroom

      6,000 SF Office Showroom - Redevelopment Opportunity
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    • $1,100,000
      20,156 SF

      Roanoke Industrial Investment Opportunity

      High-yield flex warehouse, value-add potential
      3014 Trinkle Ave, Roanoke, VA 24012
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    • $1,400,000
      19,065 SF

      Roanoke Showroom and Manufacturing Facility

      Showroom and manufacturing facility in Roanoke, Virginia.
      Shenandoah Valley Ave NE, Roanoke, VA 24012
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    • $349,000
      0.19 Acres

      Versatile Retail and Industrial Property

      Retail and industrial property in high-traffic location on Williamson Rd.
      1408 Williamson Rd NE, Roanoke, VA 24012
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    Similar Nearby for Lease

    • $8 SF/Yr
      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
    • $5 SF/Yr
      10,000 SF

      Industrial Space Available for Rent

      Industrial property with 10000 square feet available for rent.
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      View Details
    • $7 SF/Yr
      10,800 SF

      Warehouse/Flex/Showroom Space Available

      10,800 SF warehouse/flex/showroom space for lease.
      621 Fugate Rd, 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
    • $3 SF/Yr
      50,000 SF

      Roanoke Warehouse Space Available

      50,000 SF warehouse with dock and ramp for lease.
      1713 Plantation Rd NE, Roanoke, VA 24012
      View Details
    • $16 SF/Yr
      8,724 SF

      Conveniently Located Flex/Office Space

      Flex/Office space with laydown yard and easy transportation access.
      1301 Rockland Ave NW, Roanoke, VA 24012
      View Details
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    5008 Airport Rd
    Roanoke, VA 24012
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    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
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