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    Property profile & analytics

    623 Lee Hwy Verona, VA 24482-2508

    • Investment properties
    • 2,482 SF
    • 2.41 lot acres
    OFF-MARKET
    Value Estimation
    $250,000
    Location Intelligence
    Property ID
    US87-3326578
    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

    • Investment properties

    Property Details for 623 Lee Hwy

    Year built
    1898
    Lot size
    2.41 lot acres
    Property size
    2,482 SF
    Zone code
    GENERAL BUSINESS
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    036A1 5 26C
    APU
    036A1526C

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $260,000

    • CAP approach

      CAP return
      Estimation
      6%
      $200,000
      6.5%
      $205,000
      7%
      $190,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $185,000
      Geo Method
      $200,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $225,000
      Retail
      $230,000
      Mixed-Use
      $185,000
      Hospitality
      $225,000
      Educational
      $240,000
      Residential Income
      $235,000
      Energy
      $220,000
      Income-Based Land
      $225,000
      Food Service
      $225,000

    Location Insight

    • Map
    • Local Demand
    City
    Verona
    County
    Augusta
    State
    Virginia
    Longitude
    -79.0027
    Latitude
    38.2073
    CBSA code
    44420
    CBSA name
    STAUNTON-WAYNESBORO, VA MICROPOLITAN 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
    2023
    $974
    $81,200
    $163,800
    $245,000
    -
    $81,200
    $163,800
    $245,000

    Comparable in this City

    • Value Estimation
      $220,000
      1,646 SF

      381 Lee Hwy

      OFFICE/RESIDENTIAL (MIXED USE) • 1,646 SF
      381 Lee Hwy, Verona, VA 24482-2550
      View Details
    • Value Estimation
      $335,000
      6,956 SF

      70 Lewis Xing Ln

      OFFICE/RESIDENTIAL (MIXED USE) • 6,956 SF
      70 Lewis Xing Ln, Verona, VA 24482-2633
      View Details
    • Value Estimation by Request
      805 SF

      377 Lee Hwy

      OFFICE/RESIDENTIAL (MIXED USE) • 805 SF
      377 Lee Hwy, Verona, VA 24482-2550
      View Details
    • Value Estimation
      $280,000
      1,978 SF

      83 Dunsmore Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,978 SF
      83 Dunsmore Rd, Verona, VA 24482-9450
      View Details
    • Value Estimation
      $220,000
      2,307 SF

      369 Lee Hwy

      OFFICE/RESIDENTIAL (MIXED USE) • 2,307 SF
      369 Lee Hwy, Verona, VA 24482-2550
      View Details
    • Value Estimation by Request
      912 SF

      572 Lee Hwy

      Office Properties & Spaces • 912 SF
      572 Lee Hwy, Verona, VA 24482
      View Details

    Similar Nearby for Sale

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      70 acres of land in Verona, Virginia, with development potential.
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      1.65 acre building lot with river frontage near I-81.
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    Similar Nearby for Lease

    • $1.00 SF/Yr

      Verona Office Space Available

      7,000 SF office space for lease near I-81.
      47 Lee Hwy, Verona, VA 24482
      View Details
    • $15 SF/Yr
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      Verona Office Suite - 542 SF

      Prime Augusta County office space. Ideal for small businesses.
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    • $1.00 SF/Yr
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      Verona Office Space For Rent

      Upstairs office space in high-traffic Verona location.
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      View Details
    • $15 SF/Yr
      550 SF

      Prime Augusta County Office Suite

      Newly renovated, 550 sq ft office space.
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      View Details
    • $1.00 SF/Yr
      78,844 SF

      Verona Flex Space with Visibility

      Flex space with office, warehouse, and yard, visible from Rt 11.
      52 Mid Valley Ln, Verona, VA 24482
      View Details
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    623 Lee Hwy
    Verona, VA 24482-2508
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    Realmo Value Estimation

    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.

    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.

    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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