Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    502 Rorer SW Ave Roanoke, VA 24016-3604

    • Industrial properties
    • 5,485 SF
    • 0.13 lot acres
    OFF-MARKET
    Last Sale
    Feb 17, 2021
    $154,308
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1022352
    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

    • Star City Towing / Auto Repair Shop
    • Groves Automotive / Auto Repair Shop

    Property Details for 502 Rorer SW Ave

    Year built
    1940
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.13 lot acres
    Property size
    5,485 SF
    Zone code
    I-1
    Property type
    Industrial properties
    Property subtype
    Industrial live-work properties
    APN
    111-2509
    APU
    1112509

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke
    County
    Roanoke City
    State
    Virginia
    Longitude
    -79.9502
    Latitude
    37.2717
    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
    $2,474
    $14,600
    $160,200
    $174,800
    -
    $14,600
    $160,200
    $174,800

    Comparable in this City

    • Value Estimation by Request
      0.09 Acres

      Luck SW Ave

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 0.09 Acres
      Luck SW Ave, Roanoke, VA 24016
      View Details
    • Value Estimation by Request
      1,200 SF

      902 Moorman NW Ave

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 1,200 SF
      902 Moorman NW Ave, Roanoke, VA 24016-1614
      View Details
    • Value Estimation
      $24,570,000
      150,151 SF

      108 Jefferson St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 150,151 SF
      108 Jefferson St, Roanoke, VA 24016-2411
      View Details
    • Value Estimation
      $2,425,000
      14,809 SF

      1102 Jefferson St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 14,809 SF
      1102 Jefferson St, Roanoke, VA 24016-4704
      View Details
    • Value Estimation
      $2,265,000
      13,837 SF

      435 Kimball NE Ave

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 13,837 SF
      435 Kimball NE Ave, Roanoke, VA 24016-2101
      View Details
    • Value Estimation
      $6,195,000
      41,150 SF

      815 Gainsboro NW Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 41,150 SF
      815 Gainsboro NW Rd, Roanoke, VA 24016-1409
      View Details

    Similar Nearby for Sale

    • $495,000
      9,000 SF

      Warehouse Flex Space For Sale

      Warehouse flex space with office near Downtown Roanoke.
      1415 Cleveland Ave SW, Roanoke, VA 24016
      View Details
    • $3,495,000
      30,635 SF

      Modern Office Warehouse For Sale

      Class A office warehouse building with excellent location and condition.
      442 Rutherford Ave NE | Roanoke, Roanoke, VA 24016
      View Details
    • $1,250,000
      9,815 SF

      Roanoke Warehouse For Sale

      9,815 SF warehouse available for purchase in Roanoke, VA.
      2314 Patterson Ave SW, Roanoke, VA 24016
      View Details
    • Contact for pricing
      0.10 Acres

      Roanoke Buildable Residential Land

      Buildable land with water and sewer access in Roanoke.
      729 Moorman Ave NW, Roanoke, VA 24016
      View Details
    • Contact for pricing
      9,851 SF

      Roanoke Office Building For Sale

      9,851 SF office building available in Roanoke, Virginia.
      1421 3Rd St SW, Roanoke, VA 24016
      View Details
    • Contact for pricing
      0.15 Acres

      Roanoke City Lot For Sale

      Unimproved lot in Roanoke City with city water and sewer.
      819 Fairfax Ave, Roanoke, VA 24016
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      9,600 SF

      Versatile Industrial Units for Lease

      Flexible industrial units ranging from 924 to 9,600 square feet.
      2104 Salem Ave SW, Roanoke, VA 24016
      View Details
    • $9 SF/Yr
      4,453 SF

      Office/Industrial Space in Roanoke

      Affordable 4,453 SF office/warehouse space available for lease.
      306 6Th St SW, Roanoke, VA 24016
      View Details
    • $9 SF/Yr
      4,453 SF

      Office/Industrial Space Near Downtown

      Well-maintained, affordable office/industrial space with warehouse component near downtown.
      306 6Th St SW, Roanoke, VA 24016
      View Details
    • Contact for pricing
      2,601 SF

      Industrial Shop with Laydown Yard

      Industrial shop and laydown yard suitable for various industrial uses.
      802 Shenandoah Ave NW, Roanoke, VA 24016
      View Details
    • $13 SF/Yr
      30,635 SF

      Class A Office/Warehouse Roanoke

      Modern Office & Warehouse Space
      442 Rutherford Ave, Roanoke, VA 24016
      View Details
    • $4 SF/Yr
      9,270 SF

      Versatile Commercial/Industrial Space For Lease

      9,270 SF flex/industrial space with convenient access to major roadways.
      1930 Salem Ave SW, Roanoke, VA 24016
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    502 Rorer SW Ave
    Roanoke, VA 24016-3604
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.