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    Property profile & analytics

    Old Halifax Rd, VA

    • Retail space
    • 0.64 lot acres
    OFF-MARKET
    Last Sale
    Sep 21, 2022
    $15,000
    Value Estimations
    $65,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0268511
    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

    • Retail space

    Property Details for 1

    Year built
    2019
    Lot size
    0.64 lot acres
    Zone code
    HIGHWAY RETAIL COMM
    Property type
    Retail space
    APN
    78573
    APU
    78573

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $65,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Old Halifax Rd
    County
    Danville City
    State
    Virginia
    Longitude
    -79.377
    Latitude
    36.5882
    CBSA code
    19260
    CBSA name
    DANVILLE, 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
    2022
    $0.00
    $4,000
    $6,000
    $10,000
    -
    $4,000
    $6,000
    $10,000

    Comparable in this City

    • Value Estimation
      $270,000
      6,296 SF

      11604 Frnt St

      RETAIL STORES (PERSONAL SERVICES) • 6,296 SF
      11604 Frnt St, W, VA
      View Details
    • Value Estimation
      $320,000
      18,200 SF

      Riverside Dr, VA

      RETAIL STORES (PERSONAL SERVICES) • 18,200 SF
      Riverside Dr, VA
      View Details
    • Value Estimation
      $235,000
      2,096 SF

      George Wash Memorial Hwy, VA

      RETAIL STORES (PERSONAL SERVICES) • 2,096 SF
      George Wash Memorial Hwy, VA
      View Details
    • Value Estimation
      $330,000
      9,100 SF

      Wise St, VA

      RETAIL STORES (PERSONAL SERVICES) • 9,100 SF
      Wise St, VA
      View Details
    • Value Estimation
      $260,000
      2,094 SF

      Davis Ave, VA

      RETAIL STORES (PERSONAL SERVICES) • 2,094 SF
      Davis Ave, VA
      View Details
    • Value Estimation
      $305,000
      1,224 SF

      Bartlick, VA

      RETAIL STORES (PERSONAL SERVICES) • 1,224 SF
      Bartlick, VA
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11,421 SF

      Retail Building on Staples Mill

      Freestanding retail building with high traffic and accessibility.
      9501 Staples Ml Rd, Henrico, VA
      View Details
    • Contact for pricing

      Retail Outparcels Near I-95

      Retail outparcels available for sale, lease, or build-to-suit.
      15736 Rte, South Chesterfield, VA
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    • $4,900,000
      20,000 SF

      Poquoson Mixed-Use Development For Sale

      Mixed-use property with retail, office, and residential units.
      200 Fountains Ln, Poquoson, VA
      View Details
    • Contact for pricing
      13,182 SF

      Kilmarnock Retail Space For Sale

      Retail property with high visibility and NNN lease.
      100 James B. Jones Memorial Hwy, Kilmarnock, VA
      View Details
    • $595,000
      7,380 SF

      Hollins Retail Opportunity on Corner

      Two parcels totaling 0.7387 acres in high-traffic Hollins area.
      7403-7409 Williamson Rd, Hollins, VA
      View Details
    • $1,106,655
      9,002 SF

      Dollar General NNN Investment Property

      NNN Dollar General in Alton, VA with extended lease.
      1009 L P Bailey Memorial Hwy, Alton, VA
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Retail Space Near White Oak

      Retail space with high traffic and easy highway access.
      4450 S Laburnum Ave, Henrico, VA
      View Details
    • Contact for pricing
      1,442 SF

      Corner Retail Space in Tysons

      Retail space in a high-rise, accessible to transportation.
      1521 Boyd Pointe Way, Tysons, VA
      View Details
    • Contact for pricing
      6,513 SF

      Retail Space in Arbor Row

      Retail space available in a mixed-use development near Metro.
      7929 Westpark Dr, Tysons, VA
      View Details
    • Contact for pricing
      3,125 SF

      Retail Space in Tuckahoe Village

      Food Lion anchored shopping center in Henrico County for lease.
      11224-11280 Patterson Ave, Henrico, VA
      View Details
    • Contact for pricing
      865 SF

      Retail Space on Staples Mill

      Retail space available in Henrico with high traffic volume.
      7137-7153 Staples Ml Rd, Henrico, VA
      View Details
    • Contact for pricing
      2,964 SF

      Retail Space Near Eisenhower Metro

      Mixed-use development with retail space near AMC Theater and Wegmans.
      2455 Mandeville Ln, Alexandria, VA
      View Details
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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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