Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Lot in Myers Corner Title is generated by Realmo AI

    0-lot 23 Lifecore Dr, Staunton, VA 24401

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Commercial land available in Myers Corner on Jefferson Highway.

    Type:Land
    Added:
    Aug 29, 2022
    Days on Market:
    1368
    Last Refresh:
    May 19 at 10:14 pm

    Property Features for 0-lot 23 Lifecore Dr

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Charlie Ward

    Listing agent Charlie Ward

    Listing office Old Dominion Realty Inc - Augusta

    Listing date Aug 29, 2022

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Old Dominion Realty Inc - Augusta

    HighLights

    • Opportunity to combine with adjacent lots (20, 21, 22) for a total of 4.268 acres
    • Located in a commercial development area (Myers Corner)
    • Situated on Jefferson Highway (Route 250) and Lifecore Drive
    • Developer offers turn‑key commercial buildings
    • Developer offers built‑to‑suit options
    • Available for commercial development

    Overview

    This commercial lot is located in Myers Corner on Jefferson Highway (Route 250) and Lifecore Drive. It is intended for commercial development. The lot may be combined with adjacent lots (20, 21, 22) to create a 4.268-acre parcel for a combined price. Covenants and restrictions apply; details are available from the broker. The developer offers turn-key commercial buildings, built to suit.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Staunton
    County
    Staunton
    State
    Virginia
    Longitude
    -79.0825
    Latitude
    38.1221

    Nearby Similar for Sale

    • $375,000
      2,760 SF

      Versatile Commercial Building Near Downtown

      Move-in ready commercial property with flexible layout and prime location.
      204 W HAMPTON ST, STAUNTON, VA 24401
      View Details
    • $679,000
      4,265 SF

      Downtown Staunton Turn Key Property

      Two-story, 4,265 SF building in Staunton's Downtown Historic District.
      32 N AUGUSTA ST, STAUNTON, VA 24401
      View Details
    • $550,000
      3,658 SF

      Flexible Commercial/Residential Staunton Building

      Versatile 4,100+ sq ft property near downtown Staunton, VA.
      705 RICHMOND AVE, STAUNTON, VA 24401
      View Details
    • $699,000
      2,880 SF

      Jefferson Hwy Commercial Building For Sale

      Two-story commercial building on Route 250 between Staunton and Waynesboro.
      1020 JEFFERSON HWY, STAUNTON, VA 24401
      View Details
    • $449,000
      3,102 SF

      Downtown Staunton Mixed-Use Building

      Flexible mixed-use property in historic downtown Staunton.
      111 S AUGUSTA ST, STAUNTON, VA 24401
      View Details
    • $849,000
      4,040 SF

      Versatile Office Condo in Staunton

      4,040 SF flexible space suitable for retail, medical, or office.
      16 GOSNELL CROSSING, STAUNTON, VA 24401
      View Details
    • $995,000
      6,213 SF

      Renovated Victorian Quad Income Property

      Fully renovated, leased quad Victorian with immediate income potential.
      811 WESTOVER DR, STAUNTON, VA 24401
      View Details
    • $1,650,000

      Commercially Zoned Land on Richmond Avenue

      8.07 acres of commercially zoned land in Staunton, Virginia.
      1137 Richmond Ave, Staunton, VA 24401
      View Details
    • $1,650,000

      Staunton Commercial Land For Sale

      8.07 acres of commercially zoned land in Staunton, Virginia.
      1137 Richmond Ave, Staunton, VA 24401
      View Details
    • $399,000
      2,214 SF

      Fully Occupied Staunton Quadplex

      Four-unit apartment building in Staunton, generating $2,500 monthly.
      1229 STACK ST, STAUNTON, VA 24401
      View Details
    • $1,100,000
      33,164 SF

      Downtown Staunton Coca-Cola Building

      High-visibility, mixed-use property in historic downtown Staunton, Virginia.
      709 N AUGUSTA ST, STAUNTON, VA 24401
      View Details
    • $3,200,000
      22,816 SF

      Fully Occupied Mixed-Use Portfolio

      Stabilized mixed-use portfolio in Staunton, Virginia with zero vacancy.
      632 CHARLES ST, STAUNTON, VA 24401
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land available in Myers Corner on Jefferson Highway.
    Where is this commercial land located?
    The property is located at 0-lot 23 Lifecore Dr Staunton, VA.
    What is the asking price?
    The asking price for this property is $434,000.
    What are key features of this property?
    This property features: Opportunity to combine with adjacent lots (20, 21, 22) for a total of 4.268 acres; Located in a commercial development area (Myers Corner); Situated on Jefferson Highway (Route 250) and Lifecore Drive
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Charlie Ward
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    0-lot 23 Lifecore Dr, Staunton, VA 24401
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!