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    Former Bank Building on Main Title is generated by Realmo AI

    120 S MAIN ST, Edinburg, VA 22824

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    For Sale
    $489,000

    Building - EDINBURG, VA

    Property size:
    5,888 SF
    Lot size:
    0.29 Acres
    Price / SF:
    $83/SF
    Added:
    Apr 16, 2026
    Days on Market:
    47
    Last Refresh:
    Jun 1 at 6:06 am

    Property Features for 120 S MAIN ST

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C Commercial
    Standard status
    Active
    APN
    #070A2A073, #070A2A072, #070A2A070
    Size
    5,888 SF
    Lot size
    0.29 Acres

    Taxes and HOA fees

    Tax Annual Amount
    6386

    Building Details

    Year built
    1972
    Architectural style
    Other

    We can help!

    Listing Contact
    Chad Dunham
    Chad Dunham

    Listing agent Chad Dunham License #0225266331

    Listing office Cottonwood Commercial LLC 1960 Evelyn Byrd Ave, Harrisonburg, VA

    Listing date Apr 16, 2026

    MLS# 675914 Listing URL

    Copyright © 2026 Harrisonburg-Rockingham Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Priced significantly below tax assessment (approximately $275,000 below).
    • Prime Main Street location.
    • Versatile property suitable for office, retail, or commercial development.
    • Unique features including a historic bank vault and drive‑through lane.
    • Potential to divide into two separate units for owner occupancy and/or rental income.
    • Ample on‑site parking.

    Overview

    This property presents a unique opportunity to own a former bank building situated in a prime Main Street location. The versatile property is suitable for office, retail, or commercial development. The main level features an open lobby, a historic bank vault, multiple private offices, and a convenient drive-through lane. The second floor, accessible by stairs or elevator, includes a large conference room, a kitchen/break room, and expansive open space suitable for collaborative work or additional offices. The property offers the potential to be divided into two separate units for owner occupancy and/or rental income. Ample on-site parking adds to the convenience for employees and clients. The building has a C Commercial zoning and a size of 5888 square feet, situated on a lot of 0.29 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Banks

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Edinburg
    County
    Shenandoah
    State
    Virginia
    Longitude
    -78.5657726
    Latitude
    38.8211623

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    FAQs

    What type of property is this?
    Bank - Unique commercial space with historic features and development potential.
    Where is this bank located?
    The property is located at 120 S MAIN ST Edinburg, VA.
    What is the asking price?
    The asking price for this property is $489,000.
    What are key features of this property?
    This property features: Priced significantly below tax assessment (approximately $275,000 below).; Prime Main Street location.; Versatile property suitable for office, retail, or commercial development.
    (540) 246-6700
    We can help!
    Listing Contact
    Chad Dunham
    Chad Dunham
    Real Estate License ID: 0225266331
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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.

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