Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    929 N Main St Marion, VA 24354

    Sponsored
    For Sale
    $2,800,000

    COMMERCIAL - Marion, VA

    Property size:
    15,348 SF
    Lot size:
    1.79 Acres
    Days on Market:
    35
    Last Refresh:
    Jan 25 at 1:06 pm

    Property Features for 929 N Main St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    Parking
    50
    Interior features
    Public Restrooms, Showroom
    Size
    15,348 SF
    Lot size
    1.79 Acres

    Utilities

    Sewer type
    Public Sewer
    Cooling system
    Heat Pump
    Water source
    Public

    Building Details

    Year built
    1971
    Flooring type
    Vinyl, Carpet, Tile
    Building materials
    Masonry
    Roof type
    Rolled Hot Mop, Composition

    We can help!

    Listing Contact
    Joe Robinson
    Joe Robinson

    Highlands Realty, Inc. (276) 676-2221

    Listing agent Joe Robinson (276) 706-0373

    Listing date Dec 22, 2025

    MLS# 104406

    Copyright © 2025 Southwest Virginia 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.

    Learn more

    Property Insight Report

    Overview

    Marion Commercial Property For Sale

    This commercial property in Marion, VA, features two buildings comprising five individual business addresses, all currently occupied by tenants. The spaces are utilized as professional medical offices and retail. Four of the five units were completely renovated and professionally built out in 2018-2019. The remaining unit has been substantially improved with a new roof and new electrical service completed in 2024-2025. The property includes approximately 300 feet of road frontage, offering visibility and access. Situated on a 1.7906-acre parcel, it includes on-site parking to support current and future uses. The property encompasses 15348 square feet and is zoned for commercial use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Smyth
    State
    Virginia
    Longitude
    -81.5060207
    Latitude
    36.8424645

    Nearby Similar for Sale

    • $360,000
      5,169 SF

      Iconic Commercial Property in Marion

      Versatile commercial building with retail, garage, and expansion potential.
      151 E Lee St, Marion, VA 24354
      View Details
    • $350,000
      4,800 SF

      Marion, VA Multifamily Investment

      Multifamily property with residential and storage units in Marion.
      171 Market St, Marion, VA 24354
      View Details
    • $151,900
      9,440 SF

      Commercial Property with Endless Potential

      Versatile commercial property in Marion, VA, with numerous development possibilities.
      556 S Main St, Marion, VA 24354
      View Details
    • $59,000
      0.30 Acres

      Commercial Lot on Highway 16

      Level commercial lot near I-81 Exit 45 in Marion, VA.
      Highway 16, Marion, VA 24354
      View Details
    • $136,919
      8,250 SF

      Marion, VA Commercial Opportunity

      Commercial property in Marion, VA with multiple development possibilities.
      129 Greenway Ave, Marion, VA 24354
      View Details
    • Contact for pricing
      2,500 SF

      Starbucks NNN Investment Opportunity

      New construction Starbucks with corporate lease and rental increases.
      1209 N Main St, Marion, VA 24354
      View Details

    FAQs

    What type of property is this?
    Medical office - Commercial property with five units, currently leased for medical and retail.
    Where is this medical office located?
    The property is located at 929 N Main St Marion, VA.
    What is the asking price?
    The asking price for this property is $2,800,000.
    What are key features of this property?
    This property features: - Diverse and stable income stream from five individual business addresses with tenants in place.; - Four of five units **completely renovated and professionally built out in 2018-2019.**; - Approximately 300 feet of road frontage providing **excellent visibility and convenient access.**
    (276) 706-0373
    Request Owner's contact information
    929 N Main St Marion, VA 24354
    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.
    929 N Main St
    Marion, VA 24354
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    929 N Main St Marion, VA 24354
    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
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Joe Robinson
    Joe Robinson
    Real Estate License ID: 0225258965
    (276) 706-0373
    Learn more
    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.