Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    674 Red House Rd Rustburg, VA 24588-3015
    Back to Search
    Property profile & analytics

    674 Red House Rd, Rustburg, VA 24588-3015

    View on Map
    • Commercial real estate
    • 2,060 SF
    • 12.25 lot acres
    Off-Market
    Last Sale Apr 18, 2024
    $20,000
    Property ID
    US87-2141811
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Back to Health Fitness & Chiropractic / Alternative Medicine Practice
    • Seven Hills Counseling / Counselor
    • Dr. Susan Earsing / Alternative Medicine Practice
    • Thomas Tascone B.C.P.C. / Counselor / Family Counselor
    • Regenerate Massage Therapy, LLC / Alternative Medicine Practice / Spa & Massage Center

    Property Details for 674 Red House Rd

    Year built
    1954
    Construction
    FRAME
    Lot size
    12.25 lot acres
    Zone code
    A-1
    Property type
    Commercial real estate
    APN
    0350-0B000-003-0
    APU
    03500B0000030

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 18, 2024 $20,000 Rustburg Community Center LLC Rustburg Athletic Center LLC Warranty Deed $135k · First National Bank
    Oct 30, 2017 $179,900 Rustburg Athletic Center LLC A Virg Norma Carwile Warranty Deed $153k · First National Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Rustburg
    County
    Campbell
    State
    Virginia
    Longitude
    -79.0783
    Latitude
    37.2726
    CBSA code
    31340
    CBSA name
    LYNCHBURG, 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
    $1,022
    $67,500
    $159,600
    $227,100
    -
    $67,500
    $159,600
    $227,100

    Comparable in this City

    • Value Estimation by Request
      0.46 Acres

      87 Helen Dr

      COMMERCIAL (GENERAL)
      87 Helen Dr, Rustburg, VA 24588-3540
      View Details
    • Value Estimation by Request

      2685 Rocky Rd

      COMMERCIAL (GENERAL)
      2685 Rocky Rd, Rustburg, VA 24588
      View Details
    • Value Estimation by Request
      0.94 Acres

      67 Rocky Rd

      COMMERCIAL (GENERAL)
      67 Rocky Rd, Rustburg, VA 24588-4185
      View Details
    • Value Estimation by Request
      0.66 Acres

      1662 Vlg Hwy

      COMMERCIAL (GENERAL)
      1662 Vlg Hwy, Rustburg, VA 24588-3193
      View Details
    • Value Estimation by Request
      0.46 Acres

      8037 Wards Rd

      COMMERCIAL (GENERAL)
      8037 Wards Rd, Rustburg, VA 24588-4253
      View Details
    • Value Estimation by Request
      1,120 SF

      383 Vlg Hwy

      COMMERCIAL (GENERAL)
      383 Vlg Hwy, Rustburg, VA 24588-4113
      View Details

    Similar Nearby for Sale

    • $589,900
      1 SF

      Rustburg Commercial Land - High Traffic Area

      Prime 2.43-acre lot, ideal for business development. High visibility location.
      1 Wards Rd, Rustburg, VA 24588
      View Details
    • $299,000
      1.13 Acres

      Commercial Land in Growing Area

      Site-ready commercial lot with utilities in Rustburg, Virginia.
      Colonial Hwy, Rustburg, VA 24588
      View Details
    • $499,900
      2,650 SF

      Turnkey Duplex Near Liberty University

      Well-maintained duplex with strong rental potential near Liberty University.
      2638 Sunnymeade Rd, Rustburg, VA 24588
      View Details
    • New
      $350,000
      Pending

      70 Acres Wooded Land

      70 acres of wooded land near Lynchburg, Virginia.
      70 Ac Pleasant Mtn Dr, Rustburg, VA 24588
      View Details
    • $630,000
      0.48 Acres

      Townhome Pad in Augusta Springs

      0.482 acre townhome pad in Rustburg, Virginia.
      0-Block 1 Zion Pl, Rustburg, VA 24588
      View Details
    • $100,000
      0.26 Acres

      Residential Land in Augusta Springs

      Land for dream home with community amenities in Rustburg.
      0-Lot 82 Zion Pl, Rustburg, VA 24588
      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.
    674 Red House Rd
    Rustburg, VA 24588-3015
    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

    Thank You for Inquiry
    674 Red House Rd, Rustburg, VA, 24588
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!