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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7562 Hitech Rd Roanoke, VA 24019-3256

    • Office Properties & Spaces
    • 7,700 SF
    • 1.41 lot acres
    OFF-MARKET
    Value Estimations
    $665,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0857507
    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

    • Patriots Home & Auto Outfitters / Construction Company / General Contractor
    • Cobb Technologies / Big Box & Wholesale Store
    • Cobb Office Products / (Bike/Boat/Book/etc) Store
    • Itt Corp, 7635 Plantation Rd , Hollins, Va 24019 / Corporate Office

    Property Details for 7562 Hitech Rd

    Year built
    1972
    Lot size
    1.41 lot acres
    Property size
    7,700 SF
    Zone code
    I1
    Property type
    Office Properties & Spaces
    APN
    027.10-11-02
    APU
    27101102

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $666,000
      Market price range: $344k - $1.06M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,095,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke
    County
    Roanoke
    State
    Virginia
    Longitude
    -79.9558
    Latitude
    37.3517
    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
    $8,110
    $112,800
    $667,000
    $779,800
    -
    $112,800
    $667,000
    $779,800

    Comparable in this City

    • Value Estimation
      $995,000
      9,021 SF

      7670 Enon Dr

      OFFICE (GENERAL) • 9,021 SF
      7670 Enon Dr, Roanoke, VA 24019-3268
      View Details
    • Value Estimation
      $1,545,000
      17,970 SF

      5240 Valleypark Dr

      OFFICE (GENERAL) • 17,970 SF
      5240 Valleypark Dr, Roanoke, VA 24019-3002
      View Details
    • Value Estimation
      $2,235,000
      27,008 SF

      5162 Valleypointe Pkwy

      OFFICE (GENERAL) • 27,008 SF
      5162 Valleypointe Pkwy, Roanoke, VA 24019-3050
      View Details
    • Value Estimation by Request
      2,047 SF

      7752 Williamson Rd

      OFFICE (GENERAL) • 2,047 SF
      7752 Williamson Rd, Roanoke, VA 24019-4343
      View Details
    • Value Estimation by Request
      2,160 SF

      6905 Williamson Rd

      OFFICE (GENERAL) • 2,160 SF
      6905 Williamson Rd, Roanoke, VA 24019-4228
      View Details
    • Value Estimation by Request
      3,282 SF

      6434 Peters Crk Rd

      OFFICE (GENERAL) • 3,282 SF
      6434 Peters Crk Rd, Roanoke, VA 24019-4022
      View Details

    Similar Nearby for Sale

    • $1,300,000
      10,129 SF

      Enon Drive Office Building Investment

      10,129 SF Office Building, Value-Add Opportunity
      7857 Enon Dr, Hollins, VA 24019
      View Details
    • $1,495,000
      7,500 SF

      Botetourt County Office Building

      7,500 SF Office, Investment Opportunity
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    • $1,750,000
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      Multi-Tenant Professional Business Center

      12,000 SF multi-tenant professional center with strong rental history.
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    • $1,300,000
      10,129 SF

      Roanoke Office Building with Views

      10,129 SF office building with valley views for sale.
      7851-7857 Enon Dr, Roanoke, VA 24019
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    • $275,000
      10.65 Acres

      Roanoke Commercial Land - 10.65 Acres

      Prime Roanoke development land, high traffic, flat parcel.
      0 Cloverdale Rd, Roanoke, VA 24019
      View Details
    • $1,095,000
      1.97 Acres

      Prime Hollins Commercial Land

      1.97 Acres, Build-to-Suit Options
      7518 Plantation Rd, Hollins, VA 24019
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      72,000 SF

      Roanoke Office Space Available

      72,000 SF Class A Office, VA
      1745 Loch Haven Dr, Roanoke, VA 24019
      View Details
    • $5 SF/Yr
      1 SF

      Enon Drive Warehouse Space Available

      27,500 SF Warehouse, Prime Location
      7703 Enon Dr, Hollins, VA 24019
      View Details
    • $15 SF/Yr
      21,000 SF

      Roanoke Office Space for Lease

      Prime Roanoke office, multiple suites available.
      3019 Peters Creek Rd, Roanoke, VA 24019
      View Details
    • $13 SF/Yr
      34,318 SF

      North Park Office Suites, Hollins, VA

      Prime Hollins Office Space: 1,202-3,668 sq ft.
      6701 Peters Crk Rd, Hollins, VA 24019
      View Details
    • $13 SF/Yr
      3,037 SF

      Woodhaven Office Park: Prime Roanoke Space

      Class A Office Suites, North Roanoke, VA
      5430 Peters Crk Rd, Hollins, VA 24019
      View Details
    • $13 SF/Yr
      1,834 SF

      Roanoke Office Space For Rent

      Office space for rent with easy access to highways.
      6711 Peters Creek Rd, Roanoke, VA 24019
      View Details
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    7562 Hitech Rd
    Roanoke, VA 24019-3256
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    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
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