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    Waynesboro Commercial Space For Rent Title is generated by Realmo AI

    221 OSAGE LN, Waynesboro, VA 22980

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    New
    For Lease
    $1.00 SF/Yr $250/Mo (calc)

    Office Space - WAYNESBORO, VA

    Property size:
    3,000 SF
    Lot size:
    0.95 Acres
    Added:
    May 29, 2026
    Days on Market:
    2
    Last Refresh:
    May 30 at 1:06 pm

    Property Features for 221 OSAGE LN

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    APN
    31 6-3
    Size
    3,000 SF
    Lot size
    0.95 Acres

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    2018
    Floors in Building
    2
    Flooring type
    Concrete
    Building materials
    Frame
    Roof type
    Composition, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    ISAAC GRANT

    Listing agent ISAAC GRANT

    Listing office COTTONWOOD COMMERCIAL LLC 13 S. NEW STREET, STAUNTON, VA

    Listing date May 29, 2026

    MLS# 677777 Listing URL

    Copyright © 2026 Greater Augusta 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

    • 3,000 SF of open commercial space ideal for various professional uses.
    • Modified gross lease at $16/SF ($4,000/month).
    • Rent abatement available for qualified 3+ year leases.
    • Ready for custom build out.
    • Built in 2018.
    • Located on Lew Dewitt Blvd in Waynesboro.

    Overview

    This property offers 3,000 square feet of open commercial space situated along Lew Dewitt Boulevard in Waynesboro, Virginia. The space is suitable for various uses, including medical, dental, physical therapy, chiropractic, staffing, or general professional office purposes. The lease is modified gross at $16 per square foot, amounting to $4,000 per month, with the tenant responsible for utilities. A rent abatement is available for qualified leases of three or more years. The property, located on a 0.95-acre lot, is ready for a custom build-out to suit specific tenant needs.
    Property Profile Location Intelligence

    Current Use by Public Records

    Vision Tech Optometry ... Physician Jennifer Davis OD Physician Vision Tech Optometry ... Physician Mark D. Rodammer, ... Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Animal Health Care Center — 1935 Rosser Ave, Waynesboro, VA 22980
    • Animal Health Care Center: Comer Elexis DVM — 1935 Rosser Ave, Waynesboro, VA 22980
    • Weiss Valerie a DVM — 2637 W Main St, Waynesboro, VA 22980
    • Animal Hospital of Waynesboro: Gregory P Lorenz DVM — 2637 W Main St, Waynesboro, VA 22980
    • Van Lear Brett DVM — 1935 Rosser Ave, Waynesboro, VA 22980

    Location Insight

    • Map
    • Local Demand
    City
    Waynesboro
    County
    Waynesboro
    State
    Virginia
    Longitude
    -78.9362835
    Latitude
    38.0741724

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    FAQs

    What type of property is this?
    Medical Office Space - 3,000 SF commercial space ideal for medical or professional office.
    Where is this medical office space located?
    The property is located at 221 OSAGE LN Waynesboro, VA.
    What is the lease rate?
    The lease rate is $1.00 SF/Yr.
    What are key features of this property?
    This property features: 3,000 SF of open commercial space ideal for various professional uses.; Modified gross lease at $16/SF ($4,000/month).; Rent abatement available for qualified 3+ year leases.
    (540) 448-1588
    We can help!
    Listing Contact
    ISAAC GRANT
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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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    221 OSAGE LN, WAYNESBORO, VA 22980
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