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Property profile & analytics
OFF-MARKET
Estimated value
$840,000
Office Spaces
524 Chatham Ave, Danville, VA 24541-4308
Individually Owned
7-yr Hold
Free & Clear
Property ID
US87-1588364
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1948
Total area
6,010 SF
Lot
0.69 ac (30,056 SF)
Zoning code
OLD TOWN RESIDENTIAL
APN
23043
UPID
US87-1588364
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
$915k
Comparable Approach
Comparable
$842k
Blend (final)
Blend
$840k
Owner & transaction history
Danville Redevelopment And Housing · 7 yrs held
Danville Redevelopment And Housing
since 2018
2 recorded transactions
Zoning & alternative use
OLD TOWN RESIDENTIAL · Danville, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$785,000
+53.8%
Medical building
$775,000
+51.6%
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 Danville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Danville 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%
$990,000
6.5%
$915,000
7%
$850,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$510,000
Current use
RESTAURANT
$785,000
Change: +54% · Conversion: Difficult
MEDICAL BUILDING
$775,000
Change: +52% · Conversion: Easy
Blend value · Realmo final
$840k
Range $756k – $924k · ±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
$140 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$6,373
Tax year 2021
Assessed value
$849,300
Assessed 2023
Previous assessed
$849,300
+0.0% YoY
Effective rate
0.75%
On assessed value
Assessed land
$15,000
Assessed improvement
$834,300
Land market value
$15,000
Improvement market value
$834,300
Total market value
$849,300
Applied tax rate
5,101,110.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1948
Heating
FLOOR FURNACE
Stories
1
Rooms
4
Bathrooms
1
Total area
6,010 SF
Lot
0.69 ac (30,056 SF)
Zoning code
OLD TOWN RESIDENTIAL
APN
23043
UPID
US87-1588364
Jurisdiction
DANVILLE CITY
Zoning & alternative use
OLD TOWN RESIDENTIAL · Danville, VA
Zoning OLD TOWN RESIDENTIAL · permitted uses
OLD TOWN RESIDENTIAL · Danville, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Danville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$510,000
RESTAURANT
Est. value
$785,000
MEDICAL BUILDING
Est. value
$775,000
COMMERCIAL (GENERAL) Current
RESTAURANT
MEDICAL BUILDING
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
1948
Heating
FLOOR FURNACE
Stories
1
Rooms
4
Bathrooms
1
Lot
0.69 ac
Current owner
From public records · entity-resolved
Danville Redevelopment And Housing
Individual
Free & Clear · 7 yrs held
Mailing address
PO BOX 1476, DANVILLE, VA 24543-1476
Ownership since
2018
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
Aug 20, 2018
$14,700
Danville Redevelopment And Housing
Gatewood Property Management LLC
Warranty Deed
—
Oct 21, 2013
$7,000
Gatewood Property Mgmt LLC
Kathy Belton
Warranty 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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