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    86 Harris Rd Kilmarnock, VA 22482

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    86 Harris Rd Kilmarnock, VA 22482

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    • Office buildings
    • 4,875 SF
    • 1.02 lot acres
    For Sale
    $350,000
    View Listing →
    Medical Building Near Hospital For Sale
    $350,000

    Medical Building Near Hospital

    Medical building with exam rooms near Rappahannock General Hospital.

    86 Harris Road, Kilmarnock, VA 22482
    View Listing
    Property ID
    US87-2916305
    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

    • Rebecca Wright, NP / Pediatrician / Medical Clinic
    • Brenden Kootsey, MD / Pediatrician / Medical Clinic
    • Denise Schindler, MSN, RN, CPNP / Physician
    • Schindler NP / Hospital
    • Tamara Hall / Medical Clinic

    Property Details for 86 Harris Rd

    Year built
    1988
    Lot size
    1.02 lot acres
    Property size
    4,875 SF
    Zone code
    C2
    Property type
    Office buildings
    APN
    28 110D
    APU
    28110D

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $542,000
      Market price range: $423k - $833k
      AI Estimate
      $574,000
      Market price range: $372k - $911k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $630,000
      Current use
      RETAIL STORES
      $535,000
      Change: -15% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Kilmarnock
    County
    Lancaster
    State
    Virginia
    Longitude
    -76.394
    Latitude
    37.7046

    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
    $3,070
    $81,600
    $405,700
    $487,300
    -
    $81,600
    $405,700
    $487,300

    Comparable in this City

    • Value Estimation
      $535,000
      3,000 SF

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    • Value Estimation by Request
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      45 Augusta St

      OFFICE BUILDING • 768 SF
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      4,484 SF

      27 Irvington Rd

      OFFICE BUILDING • 4,484 SF
      27 Irvington Rd, Kilmarnock, VA 22482-3826
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      1,568 SF

      67 Irvington Rd

      OFFICE BUILDING • 1,568 SF
      67 Irvington Rd, Kilmarnock, VA 22482
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    • Value Estimation by Request
      1,488 SF

      672 Main St

      OFFICE BUILDING • 1,488 SF
      672 Main St, Kilmarnock, VA 22482
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    • Value Estimation by Request
      1,422 SF

      161 Macs Pond Ln

      OFFICE BUILDING • 1,422 SF
      161 Macs Pond Ln, Kilmarnock, VA 22482
      View Details

    Similar Nearby for Sale

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      Historic Kilmarnock Office Building

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      Kilmarnock Commercial Property For Sale

      Charming commercial building in Kilmarnock's vibrant Steptoe's District.
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      Kilmarnock Retail/Office Space For Sale

      Prime Main Street location suitable for retail or office applications.
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    • $595,000
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      Kilmarnock Commercial Property with Flexibility

      Highly visible property with commercial legacy and residential potential.
      200 Irvington Rd, Kilmarnock, VA 22482
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    • $795,000
      15.42 Acres

      Waterfront Land Opportunity in Kilmarnock

      15.42 acres of waterfront land with open fields.
      91A Balls Neck Rd, Kilmarnock, VA 22482
      View Details
    • $95,000

      Kilmarnock Commercial Land For Sale

      Located in Kilmarnock near shopping, dining, and town amenities.
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    Similar Nearby for Lease

    • Contact for pricing

      Kilmarnock Retail Hub Space

      Retail space in Kilmarnock's commercial hub, anchored by Food Lion.
      424 N Main St, Kilmarnock, VA 22482
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space Near Main Street

      Retail spaces available in high-traffic Kilmarnock location.
      10-150 Old Fair Grounds Way, Kilmarnock, VA 22482
      View Details
    • Contact for pricing
      3,642 SF

      Freestanding Building with Drive-Thru

      3,642 SF freestanding building with drive-thru on 0.78 acres.
      432 North Main St, Kilmarnock, VA 22482
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Kilmarnock, Virginia.
      100 Old Fair Grounds Way, Kilmarnock, VA 22482
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Kilmarnock Hub

      Retail space available in Kilmarnock's commercial hub anchored by Food Lion.
      394-424 N Main St, Kilmarnock, VA 22482
      View Details
    View Listing
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    86 Harris Rd
    Kilmarnock, VA 22482
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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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