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Property profile & analytics
OFF-MARKET
Estimated value
$920,000
Outlet malls
9701 Hornbaker Rd Manassas, VA 20109-3978
Entity Owned
1-yr Hold
Free & Clear
Property ID
US87-1121833
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1975
Total area
6,400 SF
Lot
5 ac (217,800 SF)
Zoning code
LIGHT INDUSTRIAL
APN
7595-96-4112
UPID
US87-1121833
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
J D Roy Excavating General Contractor Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$920k
Owner & transaction history
Hornbaker Associates LLC · 1 yrs held
Hornbaker Associates LLC
since 2025
4 recorded transactions
Zoning & alternative use
LIGHT INDUSTRIAL · Manassas, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$1.4M
+13.5%
Commercial (general)
$1.3M
+4.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Manassas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Manassas submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,205,000
Current use
INDUSTRIAL (GENERAL)
$1,365,000
Change: +14% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,260,000
Change: +4% · Conversion: Easy
OFFICE BUILDING
$1,075,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$920k
Range $828k – $1.01M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$144 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$35,851
Tax year 2023
Assessed value
$3,380,600
Assessed 2023
Previous assessed
$1,986,200
+70.2% YoY
Effective rate
1.06%
On assessed value
Assessed land
$3,239,800
Assessed improvement
$140,800
Land market value
$3,239,800
Improvement market value
$140,800
Total market value
$3,380,600
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1975
Heating
NONE
Stories
1
Total area
6,400 SF
Lot
5 ac (217,800 SF)
Zoning code
LIGHT INDUSTRIAL
APN
7595-96-4112
UPID
US87-1121833
Jurisdiction
PRINCE WILLIAM
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
LIGHT INDUSTRIAL · Manassas, VA
Zoning LIGHT INDUSTRIAL · permitted uses
LIGHT INDUSTRIAL · Manassas, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Manassas. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.2M
INDUSTRIAL (GENERAL)
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.1M
RETAIL STORES Current
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1975
Heating
NONE
Stories
1
Lot
5 ac
Current owner
From public records · entity-resolved
Hornbaker Associates LLC
Entity
Free & Clear · 1 yrs held
Mailing address
PO BOX 1234, HARRISONBURG, VA 22803-1234
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 28, 2025
$4,900,000
Hornbaker Associates LLC
Gsw Investors LLC
Special Warranty Deed
—
Feb 28, 2025
$990
Gsw Investors LLC
Hornbaker Associates LLC
Deed
—
Feb 28, 2025
—
Crown Atlantic Company LLC
Gsw Investors LLC
Deed
—
May 27, 2020
—
Tcf Holding II LLC
Gsw Investors LLC
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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