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    800 Main St Danville, VA 24541
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    Property profile & analytics

    800 Main St, Danville, VA 24541

    View on Map
    • Commercial real estate
    • 0.28 lot acres
    Off-Market
    Property ID
    US87-0101979
    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

    • Commercial real estate

    Property Details for 800 Main St

    Lot size
    0.28 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 0.28-acre commercial land parcel, located at 800 W. Main Street in Danville, Virginia (zip code 24541), presents a unique investment opportunity. Currently zoned residential, this property offers significant potential for various commercial uses, given its prime location. The lot measures approximately 74 feet by 165 feet and features a 2,116 square foot house currently on the site. Its strategic position across from a CVS Pharmacy and within one mile of Averett College ensures high visibility and accessibility. Most significantly, the property is adjacent to the planned Caesars Hotel & Casino development, promising substantial future growth and increased property value. The asking price for this remarkable property is $550,000. This is a rare chance to acquire land in a rapidly developing area with immense potential for future returns. The existing house provides immediate income potential or can be easily removed to accommodate new construction. Don't miss this opportunity to capitalize on the exciting growth happening in Danville, Virginia.

    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
    Danville
    County
    Danville
    State
    Virginia
    Longitude
    -79.4227176
    Latitude
    36.5710135

    Comparable in this City

    • $49,900
      0.92 Acres

      Residential Land in Upscale Danville

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      Cleared Commercial Land for Development

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    • $349,000
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      Undeveloped Land Near Sandy River

      31+ acres of land with riverfront property in Danville, VA.
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      High Visibility Retail Land Available

      Up to 6.2 acres available in high visibility retail area.
      Sandy Ct, Danville, VA 24541
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      Danville Industrial Land for Sale

      Land in Southwyck Planning Area, ideal for industrial growth.
      1901 Goodyear Blvd, Danville, VA 24541
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      0.58 Acres

      Danville, VA Building Lots

      Two residential building lots for sale in Danville, Virginia.
      Bennett St, Danville, VA 24541
      View Details

    Similar Nearby for Sale

    • $49,900
      0.92 Acres

      Residential Land in Upscale Danville

      Prime lots in Danville, near restaurants and shopping centers.
      Westhaven Dr, Danville, VA 24541
      View Details
    • Contact for pricing

      Cleared Commercial Land for Development

      12.98 acres of commercial land ready for development.
      Franklin Turnpike/Route 41, Danville, VA 24541
      View Details
    • $349,000
      31.63 Acres

      Undeveloped Land Near Sandy River

      31+ acres of land with riverfront property in Danville, VA.
      Hanks Ln, Danville, VA 24541
      View Details
    • Contact for pricing

      High Visibility Retail Land Available

      Up to 6.2 acres available in high visibility retail area.
      Sandy Ct, Danville, VA 24541
      View Details
    • Contact for pricing

      Danville Industrial Land for Sale

      Land in Southwyck Planning Area, ideal for industrial growth.
      1901 Goodyear Blvd, Danville, VA 24541
      View Details
    • Contact for pricing
      0.58 Acres

      Danville, VA Building Lots

      Two residential building lots for sale in Danville, Virginia.
      Bennett St, Danville, VA 24541
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,800 SF

      Danville Shopping Center Retail Space

      Retail space available in a 235,000 SF shopping center.
      114 Wooding Ave, Danville, VA 24541
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      11,540 SF

      Danville Shopping Center Retail Space

      Retail space in a 235,000 SF shopping center.
      607-661 W Main St, Danville, VA 24541
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    • $6 SF/Yr
      14,744 SF

      Warehouse/Showroom Space For Lease/Sale

      15,000 SF warehouse/showroom available for lease or sale.
      778 Westover Dr, Danville, VA 24541
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      2,100 SF

      Retail Space Near Averett University

      2,100 SF retail space in a 235,000 SF center.
      605 W Main St, Danville, VA 24541
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      New Parking Lot Available

      New parking lot with large end cap near Averett University.
      Wooding Ave, Danville, VA 24541
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    • Contact for pricing

      Retail Space For Rent

      Retail space available in Danville, Virginia with high visibility.
      3360 Riverside Dr, Danville, VA 24541
      View Details
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    800 Main St
    Danville, VA 24541
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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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