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    Property profile & analytics

    8 Rainbow Ln Waynesboro, VA 22980-6242

    • Assisted living facilities
    • 8,556 SF
    • 4.48 lot acres
    OFF-MARKET
    Value Estimation
    $330,000
    Location Intelligence
    Property ID
    US87-3290068
    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

    • Oak Grove Manor / Senior Citizen Center

    Property Details for 8 Rainbow Ln

    Year built
    1972
    Lot size
    4.48 lot acres
    Property size
    8,556 SF
    Zone code
    GENERAL AGRICULTURE
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    058 25
    APU
    5825

    Description

    This exceptional assisted living facility in Waynesboro, VA, presents a unique investment opportunity. Situated on a 4.48-acre lot, the 8,156 square foot property offers 23 comfortable guest rooms, generating a strong occupancy rate. Six private rooms include a half bath, while seven others boast full baths. A private apartment adds to the property's versatility. Residents enjoy spacious communal areas perfect for socializing and recreation, along with two convenient shower/salon rooms. A well-equipped kitchen ensures delicious meals are prepared daily. The tranquil outdoor spaces provide a serene setting for relaxation. All rooms are fully furnished, and all furniture is included in the sale. Two detached three-car garages offer ample storage, and additional backup furniture is also provided. Priced at $1,100,000, this property offers a blend of lucrative investment potential and the rewarding experience of providing high-quality senior care in a peaceful, scenic location. The property's quiet setting and amazing views contribute to its overall appeal and potential for continued success. This is a remarkable opportunity for discerning investors in the senior care industry.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $315,000

    • CAP approach

      CAP return
      Estimation
      6%
      $325,000
      6.5%
      $325,000
      7%
      $360,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $410,000
      Geo Method
      $385,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $400,000
      Retail
      $340,000
      Mixed-Use
      $410,000
      Hospitality
      $370,000
      Educational
      $335,000
      Residential Income
      $410,000
      Energy
      $320,000
      Income-Based Land
      $345,000
      Food Service
      $400,000

    Location Insight

    • Map
    • Local Demand
    City
    Waynesboro
    County
    Augusta
    State
    Virginia
    Longitude
    -78.9004
    Latitude
    38.1377
    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
    $3,825
    $104,830
    $718,900
    $823,730
    -
    $104,830
    $718,900
    $823,730

    Comparable in this City

    • Value Estimation
      $325,000
      7,179 SF

      1182 Side Hwy

      HOMES (RETIRED, NURSING) • 7,179 SF
      1182 Side Hwy, Waynesboro, VA 22980
      View Details
    • Value Estimation
      $1,115,000
      8,337 SF

      41 Stoneridge Dr

      MEDICAL BUILDING • 8,337 SF
      41 Stoneridge Dr, Waynesboro, VA 22980-6523
      View Details
    • Value Estimation by Request
      9,319 SF

      32 Angus Dr

      MEDICAL BUILDING • 9,319 SF
      32 Angus Dr, Waynesboro, VA 22980-7418
      View Details
    • Value Estimation by Request
      2.40 Acres

      Lew Dewitt Blvd

      Individual retail properties • 2.40 Acres
      0 Lew Dewitt Blvd, Waynesboro, VA 22980
      View Details
    • Value Estimation by Request

      Main St

      VACANT COMMERCIAL LAND
      Main St, Waynesboro, VA 22980
      View Details
    • Value Estimation by Request
      0.34 Acres

      237 Market Ave

      VACANT COMMERCIAL LAND • 0.34 Acres
      237 Market Ave, Waynesboro, VA 22980-4659
      View Details

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    Similar Nearby for Lease

    • $1.00 SF/Yr

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      Private offices for rent with utilities included and conference room.
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    • $1.00 SF/Yr
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    • $1.00 SF/Yr

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      Office condo with functional space in a convenient Waynesboro location.
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    • $1.00 SF/Yr

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      2,022 SF commercial space with kitchen, bar, and offices.
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    • $1.00 SF/Yr

      Well-Maintained Office Space Available

      Private office space with reception, kitchenette, and ample parking.
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      View Details
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    8 Rainbow Ln
    Waynesboro, VA 22980-6242
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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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