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Property profile & analytics
OFF-MARKET
Estimated value
$715,000
Medical Office Space
723 Piney Frst Rd, Danville, VA 24540-2860
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US87-1786996
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1990
Total area
8,800 SF
Lot
0.97 ac (42,253 SF)
Zoning code
PLANNED SHOPPING CENTER
APN
60130
UPID
US87-1786996
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
Current use
Occupant on record · Public records
-
Friedrichs Family Eye Center Physician
-
Waters Michael G MD Physician
-
Family Health Care Center: Pickeral Elizabeth MD Pediatrician Physician
-
Valerie A. White, FNP Physician
-
Dr. Jacob T. Moll, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$765k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$907k
Blend (final)
Blend
$715k
Owner & transaction history
Evolution Optical LLC · 4 yrs held
Evolution Optical LLC
since 2021
Last sale
$537,500
3 recorded transactions
Zoning & alternative use
PLANNED SHOPPING CENTER · Danville, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+1.4%
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
$770,000
ML approach
$765,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,135,000
Current use
RESTAURANT
$1,150,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$715k
Range $644k – $787k · ±10% · vs last sale $538k (Aug 25 2021)
Last sale anchor
$538k
Aug 25 2021
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
$81 / 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
$7,656
Tax year 2021
Assessed value
$790,500
Assessed 2023
Previous assessed
$790,500
+0.0% YoY
Effective rate
0.97%
On assessed value
Assessed land
$174,600
Assessed improvement
$615,900
Land market value
$174,600
Improvement market value
$615,900
Total market value
$790,500
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1990
Heating
YES
Cooling
YES
Stories
1
Units
183
Total area
8,800 SF
Lot
0.97 ac (42,253 SF)
Zoning code
PLANNED SHOPPING CENTER
APN
60130
UPID
US87-1786996
Jurisdiction
DANVILLE CITY
Zoning & alternative use
PLANNED SHOPPING CENTER · Danville, VA
Zoning PLANNED SHOPPING CENTER · permitted uses
PLANNED SHOPPING CENTER · 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
MEDICAL BUILDING Current
Est. value
$1.1M
RESTAURANT
Est. value
$1.2M
MEDICAL BUILDING Current
RESTAURANT
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
1990
Heating
YES
Cooling
Yes
Stories
1
Units
183
Lot
0.97 ac
Current owner
From public records · entity-resolved
Evolution Optical LLC
Entity
Mailing address
1975 VIRGINIA AVE, MARTINSVILLE, VA 24112-8388
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 25, 2021
$537,500
Evolution Optical LLC
Rjj Development LLC
Warranty Deed
$537,500 · The Fidelity Bank
Aug 24, 2020
$225,000
Rjj Development LLC
Danville Regional Medical Center Ll
Special Warranty Deed
—
Jun 29, 2005
—
Danville Regional Medical Center Ll
Ambulatory Services Danville
Quit Claim Deed
related
—
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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