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    Property profile & analytics

    7703 Enon Dr Hollins, VA 24019

    • Warehouses
    • 38,950 SF
    • 1.80 lot acres
    For Lease
    View listing
    $5 SF/Yr
    Value Estimations
    $940,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1084111
    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

    • FAME Allstars / Gym
    • Ring Gymnastics / Gymnastics Center
    • Roanoke Ninja and Parkour / Gymnastics Center / Gymnastics Club

    Property Details for 7703 Enon Dr

    Year built
    1974
    Lot size
    1.80 lot acres
    Property size
    38,950 SF
    Zone code
    I1
    Property type
    Warehouses
    APN
    027.10-11-01
    APU
    27101101

    Description

    This exceptional single-tenant industrial property, located at 7703 Enon Drive in Roanoke, VA 24019, offers 27,500 square feet of versatile warehouse space. Built in 1974, the building boasts convenient access to Interstate 81, ensuring efficient transportation and logistics. The property features both drive-in and dock doors, providing flexible loading and unloading options to suit various operational needs. Recent upgrades significantly enhance the property's functionality and efficiency. These improvements include a fully updated sprinkler system for enhanced safety, new gas heaters supplied by Roanoke Gas for reliable heating, and energy-efficient LED lighting throughout the entire space, reducing operational costs. The property's single-tenant occupancy provides a streamlined and straightforward ownership experience. This well-maintained warehouse presents a compelling opportunity for businesses seeking a strategically located and well-equipped facility in the Roanoke area. The combination of its prime location, modern upgrades, and ample space makes this property an ideal choice for a variety of industrial and distribution operations. The property's classification includes both office and industrial uses, offering flexibility for businesses with diverse operational requirements.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $910,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,385,000
      Market price range: $908k - $3.59M

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

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke
    County
    Roanoke
    State
    Virginia
    Longitude
    -79.9565
    Latitude
    37.3514
    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
    $11,351
    $144,000
    $947,400
    $1,091,400
    -
    $144,000
    $947,400
    $1,091,400

    Comparable in this City

    • Value Estimation
      $1,230,000
      391,945 SF

      1 Avery Row

      WAREHOUSE, STORAGE • 391,945 SF
      1 Avery Row, Roanoke, VA 24019-8521
      View Details
    • Value Estimation
      $1,035,000
      47,644 SF

      7704 Enon Dr

      WAREHOUSE, STORAGE • 47,644 SF
      7704 Enon Dr, Roanoke, VA 24019-3238
      View Details
    • Value Estimation
      $840,000
      22,800 SF

      7549 Williamson Rd

      WAREHOUSE, STORAGE • 22,800 SF
      7549 Williamson Rd, Roanoke, VA 24019-4301
      View Details
    • Value Estimation
      $700,000
      19,050 SF

      8110 Gander Way

      WAREHOUSE, STORAGE • 19,050 SF
      8110 Gander Way, Roanoke, VA 24019-1622
      View Details
    • Value Estimation
      $375,000
      4,088 SF

      7575 Robertson Ln

      WAREHOUSE, STORAGE • 4,088 SF
      7575 Robertson Ln, Roanoke, VA 24019-3210
      View Details
    • Value Estimation
      $1,300,000
      59,100 SF

      2918 Peters Crk Rd

      MINI-WAREHOUSE, STORAGE • 59,100 SF
      2918 Peters Crk Rd, Roanoke, VA 24019-3514
      View Details

    Similar Nearby for Sale

    • $975,000

      Prime Roanoke Industrial Land

      50 Acres, I-1 Zoning, Below Assessed Value
      6390 Old Mountain Rd, Roanoke, VA 24019
      View Details
    • Contact for pricing
      44,155 SF

      Industrial Property Near Interstate 81

      Industrial property with expansion capability and proximity to major transportation.
      3845 Thirlane Rd NW, Roanoke, VA 24019
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    • $275,000
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      Roanoke Commercial Land - 10.65 Acres

      Prime Roanoke development land, high traffic, flat parcel.
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    • $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
    • $40,000
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      Residential Land in Botetourt County

      Two parcels for the price of one in Roanoke, Virginia.
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    • $784,900

      Commercial Land at Grand Retreat

      Vacant commercial parcels suitable for retail, medical, or office development.
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    Similar Nearby for Lease

    • $14 SF/Yr
      2,810 SF

      Office and Warehouse Space Available

      Modern office and functional warehouse space for rent.
      6742-6746 Thirlane Rd, Roanoke, VA 24019
      View Details
    • $5 SF/Yr
      27,500 SF

      Roanoke Warehouse with Recent Upgrades

      27,500 sq ft warehouse with convenient Interstate 81 access.
      7703 Enon 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
    • $14 SF/Yr
      2,333 SF

      Premium Flex-Office Space Available

      High-quality flex-office space in a multi-tenant business park.
      5228 Valleypark Dr, Roanoke, 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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    Hollins, VA 24019
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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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