150 PANAY WAY
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Location
150 PANAY WAY
Mblu
64/ H 1/ 1 109/ /
Acct#
8051016
Owner
MADISON III LLC
Class
MULTI FAMILY
Total Market Value
$39,209,020
Appraisal
$39,208,997
PID
51016
Building Count
8
Legal Description
MADISON VILLAGE 15.24 ACRES
Water
Public
Sewer
Public Sewer
District
04: SHAWNEE
Current Value
Appraisal
Valuation YearImprovementsLandTotal
2025$38,751,797$457,200$39,208,997
Assessment
Valuation YearImprovementsLandTotal
2025$38,751,820$457,200$39,209,020

Owner of Record
OwnerMADISON III LLC
Co-Owner
Address558 BENNYS BEACH RD
FRONT ROYAL, VA 22630-6963
Sale Price$0
Instrument Year2018
Book & Page 8207/0
Sale Date01/01/1900
Instrument00

Ownership History
Ownership History
OwnerSale PriceInstrument YearBook & PageInstrumentSale Date
MADISON III LLC$020188207/00001/01/1900

Building Information
Building 1 : Section 1
Year Built:
Living Area: 0
Building Attributes
FieldDescription
StyleVacant Land
Model
Grade
Stories
Foundation
Exterior Wall 1
Exterior Wall 2
Roof Type
Roof Cover
Interior Wall 1
Num Cars - Carport 
Garage Type
Carport Type
Heat System
AC Type
Bedroom(s)
Full Bath(s)
Half Bath(s)
Total Room(s)
Extra Kitchen(s)
Interior Floor 1
Interior Floor 2
Garage Type 2
Heat Fuel
Num Cars - Garage
Fireplace(s)
Grade Adjust
Num Cars - Built In
Num Units
Stacked Fireplace(s)
Flue(s)
Gas Fireplace(s)
Inop Flue/FPL
Interior Wall 3
Basement
Fin Bsmt Area
Num Cars - Garage 2
Split Foyer
Split Level
Metal Flue(s)
Basement Area
Building Layout
Building Sub-Areas (sq ft)

No Data for Building Sub-Areas

Building 2 : Section 1
Year Built: 2019
Living Area: 0
Building Attributes : Bldg 2 of 8
FieldDescription
Section StylePublic Building
ModelCommercial
GradeGrade C
Stories1.0
Heat SystemFORCED AIR
Interior Wall 1DRYWALL
Interior Wall 2 
Garage TypeNONE
Extra Fixture(s)0
Fireplace(s)0
Extra Kitchen(s)0
Total Room(s)12
Carport TypeNONE
Interior Floor 3 
Frame TypeTYPICAL
Roof CoverCOMP SHINGLE
Roof TypeHIP
AC Type100%
Exterior Wall 2N/A
Full Bath(s)3
FoundationCONCRETE
Exterior Wall 1STONE
BasementNONE
Bedroom(s)0
Section Factor0.10
Num Units0
Gas Fireplace(s)0
Flue(s)0
Metal Flue(s)0
Heat FuelELECTRIC
Inop Flue/FPL0
Interior Floor 1CARPET
Interior Floor 2CERAMIC TILE
Half Bath(s)0
Stacked Fireplace(s)0
Num Cars - Carport0
Num Cars - Garage0
Num Cars - Built In0
Fin Bsmt Area0
Garage Type 2NONE
Num Cars - Garage 20
Split FoyerNo
Split LevelNo
Grade Adjust.1
Basement Area0
Building Layout Building Layout
Building Sub-Areas (sq ft)
CodeDescriptionGross
Area		Living
Area
C30CCOMMUNITY CENTER - C 3,462 0
PORPORCH 388 0
   3,850 0
Building 3 : Section 1
Year Built: 2021
Living Area: 0
Building Attributes : Bldg 3 of 8
FieldDescription
Section StyleApartments
ModelCommercial
GradeGrade C
Stories4.0
Heat SystemFORCED AIR
Interior Wall 1DRYWALL
Interior Wall 2 
Garage TypeNONE
Extra Fixture(s)0
Fireplace(s)0
Extra Kitchen(s)0
Total Room(s)0
Carport TypeNONE
Interior Floor 3 
Frame TypeFRAME
Roof CoverCOMP SHINGLE
Roof TypeHIP
AC Type100%
Exterior Wall 2N/A
Full Bath(s)0
FoundationCONCRETE
Exterior Wall 1HARDIPLANK
BasementSLAB
Bedroom(s)0
Section Factor 
Num Units48
Gas Fireplace(s)0
Flue(s)0
Metal Flue(s)0
Heat FuelELECTRIC
Inop Flue/FPL0
Interior Floor 1WOOD
Interior Floor 2CARPET
Half Bath(s)0
Stacked Fireplace(s)0
Num Cars - Carport0
Num Cars - Garage0
Num Cars - Built In0
Fin Bsmt Area0
Garage Type 2NONE
Num Cars - Garage 20
Split FoyerNo
Split LevelNo
Grade Adjust0
Basement Area0
Building Layout Building Layout
Building Sub-Areas (sq ft)
CodeDescriptionGross
Area		Living
Area
A03BAPARTMENT - FRAME - B 63,008 0
PORPORCH 2,400 0
   65,408 0
Building 4 : Section 1
Year Built: 2020
Living Area: 0
Building Attributes : Bldg 4 of 8
FieldDescription
Section StyleApartments
ModelCommercial
GradeGrade C
Stories4.0
Heat SystemFORCED AIR
Interior Wall 1DRYWALL
Interior Wall 2 
Garage TypeNONE
Extra Fixture(s)0
Fireplace(s)0
Extra Kitchen(s)0
Total Room(s)0
Carport TypeNONE
Interior Floor 3CERAMIC TILE
Frame TypeFRAME
Roof CoverCOMP SHINGLE
Roof TypeHIP
AC Type100%
Exterior Wall 2N/A
Full Bath(s)0
FoundationCONCRETE
Exterior Wall 1HARDIPLANK
BasementSLAB
Bedroom(s)0
Section Factor 
Num Units48
Gas Fireplace(s)0
Flue(s)0
Metal Flue(s)0
Heat FuelELECTRIC
Inop Flue/FPL0
Interior Floor 1WOOD
Interior Floor 2CARPET
Half Bath(s)0
Stacked Fireplace(s)0
Num Cars - Carport0
Num Cars - Garage0
Num Cars - Built In0
Fin Bsmt Area0
Garage Type 2NONE
Num Cars - Garage 20
Split FoyerNo
Split LevelNo
Grade Adjust0
Basement Area0
Building Layout Building Layout
Building Sub-Areas (sq ft)
CodeDescriptionGross
Area		Living
Area
A03BAPARTMENT - FRAME - B 63,008 0
   63,008 0
Building 5 : Section 1
Year Built: 2020
Living Area: 0
Building Attributes : Bldg 5 of 8
FieldDescription
Section StyleApartments
ModelCommercial
GradeGrade C
Stories4.0
Heat SystemFORCED AIR
Interior Wall 1DRYWALL
Interior Wall 2 
Garage TypeNONE
Extra Fixture(s)0
Fireplace(s)0
Extra Kitchen(s)0
Total Room(s)0
Carport TypeNONE
Interior Floor 3 
Frame TypeFRAME
Roof CoverCOMP SHINGLE
Roof TypeHIP
AC Type100%
Exterior Wall 2N/A
Full Bath(s)0
FoundationCONCRETE
Exterior Wall 1HARDIPLANK
BasementSLAB
Bedroom(s)0
Section Factor 
Num Units48
Gas Fireplace(s)0
Flue(s)0
Metal Flue(s)0
Heat FuelELECTRIC
Inop Flue/FPL0
Interior Floor 1WOOD
Interior Floor 2CARPET
Half Bath(s)0
Stacked Fireplace(s)0
Num Cars - Carport0
Num Cars - Garage0
Num Cars - Built In0
Fin Bsmt Area0
Garage Type 2NONE
Num Cars - Garage 20
Split FoyerNo
Split LevelNo
Grade Adjust0
Basement Area0
Building Layout Building Layout
Building Sub-Areas (sq ft)
CodeDescriptionGross
Area		Living
Area
A03BAPARTMENT - FRAME - B 63,008 0
   63,008 0
Building 6 : Section 1
Year Built: 2022
Living Area: 0
Building Attributes : Bldg 6 of 8
FieldDescription
Section StyleApartments
ModelCommercial
GradeGrade C
Stories4.0
Heat SystemFORCED AIR
Interior Wall 1DRYWALL
Interior Wall 2 
Garage TypeNONE
Extra Fixture(s)0
Fireplace(s)0
Extra Kitchen(s)0
Total Room(s)0
Carport TypeNONE
Interior Floor 3 
Frame TypeFRAME
Roof CoverCOMP SHINGLE
Roof TypeHIP
AC Type100%
Exterior Wall 2N/A
Full Bath(s)80
FoundationCONCRETE
Exterior Wall 1HARDIPLANK
BasementSLAB
Bedroom(s)0
Section Factor 
Num Units48
Gas Fireplace(s)0
Flue(s)0
Metal Flue(s)0
Heat FuelELECTRIC
Inop Flue/FPL0
Interior Floor 1WOOD
Interior Floor 2CARPET
Half Bath(s)0
Stacked Fireplace(s)0
Num Cars - Carport0
Num Cars - Garage0
Num Cars - Built In0
Fin Bsmt Area0
Garage Type 2NONE
Num Cars - Garage 20
Split FoyerNo
Split LevelNo
Grade Adjust0
Basement Area0
Building Layout Building Layout
Building Sub-Areas (sq ft)
CodeDescriptionGross
Area		Living
Area
A03BAPARTMENT - FRAME - B 63,008 0
PORPORCH 2,400 0
   65,408 0
Building 7 : Section 1
Year Built: 2022
Living Area: 0
Building Attributes : Bldg 7 of 8
FieldDescription
Section StyleApartments
ModelCommercial
GradeGrade C
Stories4.0
Heat SystemFORCED AIR
Interior Wall 1DRYWALL
Interior Wall 2 
Garage TypeNONE
Extra Fixture(s)0
Fireplace(s)0
Extra Kitchen(s)0
Total Room(s)0
Carport TypeNONE
Interior Floor 3 
Frame TypeFRAME
Roof CoverCOMP SHINGLE
Roof TypeHIP
AC Type100%
Exterior Wall 2N/A
Full Bath(s)80
FoundationCONCRETE
Exterior Wall 1HARDIPLANK
BasementSLAB
Bedroom(s)0
Section Factor 
Num Units48
Gas Fireplace(s)0
Flue(s)0
Metal Flue(s)0
Heat FuelGAS
Inop Flue/FPL0
Interior Floor 1WOOD
Interior Floor 2CARPET
Half Bath(s)0
Stacked Fireplace(s)0
Num Cars - Carport0
Num Cars - Garage0
Num Cars - Built In0
Fin Bsmt Area0
Garage Type 2NONE
Num Cars - Garage 20
Split FoyerNo
Split LevelNo
Grade Adjust0
Basement Area0
Building Layout Building Layout
Building Sub-Areas (sq ft)
CodeDescriptionGross
Area		Living
Area
A03BAPARTMENT - FRAME - B 63,008 0
PORPORCH 2,400 0
   65,408 0
Building 8 : Section 1
Year Built: 2023
Living Area: 0
Building Attributes : Bldg 8 of 8
FieldDescription
Section StyleApartments
ModelCommercial
GradeGrade C
Stories4.0
Heat SystemFORCED AIR
Interior Wall 1DRYWALL
Interior Wall 2 
Garage TypeNONE
Extra Fixture(s)0
Fireplace(s)0
Extra Kitchen(s)0
Total Room(s)125
Carport TypeNONE
Interior Floor 3 
Frame TypeFRAME
Roof CoverCOMP SHINGLE
Roof TypeHIP
AC Type100%
Exterior Wall 2N/A
Full Bath(s)45
FoundationCONCRETE
Exterior Wall 1HARDIPLANK
BasementNONE
Bedroom(s)0
Section Factor 
Num Units0
Gas Fireplace(s)0
Flue(s)0
Metal Flue(s)0
Heat FuelELECTRIC
Inop Flue/FPL0
Interior Floor 1CARPET
Interior Floor 2VINYL
Half Bath(s)0
Stacked Fireplace(s)0
Num Cars - Carport0
Num Cars - Garage0
Num Cars - Built In0
Fin Bsmt Area0
Garage Type 2NONE
Num Cars - Garage 20
Split FoyerNo
Split LevelNo
Grade Adjust0
Basement Area0
Building Layout Building Layout
Building Sub-Areas (sq ft)
CodeDescriptionGross
Area		Living
Area
A03CAPARTMENT - FRAME - C 31,376 0
PORPORCH 2,300 0
   33,676 0

Extra Features
Extra Features

No Data for Extra Features


Land
Land Use
Use Code300V
DescriptionMULTI FAMILY - VAC  
ZoneRP
Neighborhood
Alt Land ApprNo
Category
Land Line Valuation
Size (Acres)15.24
Frontage0
Depth0
Total Market Land$457,200
Appraised Value$457,200

Outbuildings
Outbuildings
CodeDescriptionSizeValueBldg #
LIGHTLight1.00 UN$55,0001
PORCHPorch2400.00 UN$36,0004
PORCHPorch2400.00 UN$36,0005
PAVMTPavement91900.00 UN$183,8001
PAVMTPavement91900.00 UN$183,8001
PICNICPicnic Shelter168.00 UN$3,3601
PICNICPicnic Shelter168.00 UN$3,3601
PLYGRDPlayground Area1.00 UN$01
FENFence500.00 UN$5,0001
BLDGBuilding4000.00 UN$72,0001
POOLHSPool House672.00 UN$33,6001
POOLPool1680.00 UN$84,0001
Valuation History
Appraisal
Valuation YearImprovementsLandTotal
2026$38,751,797$457,200$39,208,997
2025$38,751,797$457,200$39,208,997
2024$35,232,400$464,800$35,697,200

Assessment
Valuation YearImprovementsLandTotal
2026$38,751,820$457,200$39,209,020
2025$38,751,820$457,200$39,209,020
2024$35,232,400$464,800$35,697,200

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