Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    172 W Old Cross Rd New Market, VA 22844

    For Lease
    $1.00 SF/Yr ($3,993 /Mo)

    Building - NEW MARKET, VA

    Lot size:
    1.10 Acres
    Days on Market:
    177
    Last Refresh:
    Dec 5 at 9:06 am

    Property Features for 172 W Old Cross Rd

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Zoning
    B-1 Local Business
    APN
    103 A 067
    Lot size
    1.10 Acres

    Utilities

    Heating system
    Heat Pump (Heating), Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1992
    Flooring type
    Other
    Building materials
    Brick
    Architectural style
    Other

    Cottonwood Commercial LLC (540) 434-9922

    Listing agent Chad Dunham (540) 434-9922 License #0225266331

    Listing date Jun 12, 2025

    MLS# 649081 Listing URL

    Copyright © 2025 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.

    Overview

    Retail Opportunity with Drive-Thru Lanes

    This retail property, formerly a Burger King, offers an opportunity for various retail or commercial uses. It features two drive-thru lanes and is situated on over 1 acre. A large, high-rise sign, approximately 90 feet tall, is visible from Interstate 81, which has an Average Annual Daily Traffic (AADT) count of 46,000. The use of furniture, furnishings, and most equipment is included with the lease. The property is conveniently located immediately off Interstate 81 at exit 264 in New Market, VA. The lease rate is 7.5% of gross sales per month for the first year, increasing to 8% of gross sales per month for years 2 and beyond, paid monthly. The property is zoned B-1 Local Business.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Drive through restaurants

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    New Market
    County
    Shenandoah
    State
    Virginia
    Longitude
    -78.6739077
    Latitude
    38.6487559

    FAQs

    What type of property is this?
    Drive through restaurant - Versatile commercial space with high visibility and drive-thru.
    Where is this drive through restaurant located?
    The property is located at 172 W Old Cross Rd New Market, VA.
    What is the lease rate?
    The lease rate is $1.00 SF/Yr.
    What are key features of this property?
    This property features: - High-visibility location immediately off I-81 (Exit 264) with high traffic count (AADT 46,000).; - Two drive-thru lanes, ideal for QSR or similar businesses.; - Large high-rise sign (approx. 90' tall) visible from I-81.
    (540) 434-9922
    Request Owner's contact information
    172 W Old Cross Rd New Market, VA 22844
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    172 W Old Cross Rd
    New Market, VA 22844
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    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
    172 W Old Cross Rd New Market, VA 22844
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.