Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Cape-Cod Office Building with Parking Title is generated by Realmo AI

    115 W Blue Ridge Street, Stuart, VA 24171

    View on Map
    Claim this Listing
    For Sale
    $199,000

    COMMERCIAL - Stuart, VA

    Property size:
    2,764 SF
    Lot size:
    1.00 Acre
    Price / SF:
    $71/SF
    Added:
    Aug 21, 2025
    Days on Market:
    287
    Last Refresh:
    Jun 3 at 10:06 pm

    Property Features for 115 W Blue Ridge Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Lot size
    1.00 Acre

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    +/- 1 Acre and Improvements; Map #: 4811-5-79; Lot #79
    Tax Annual Amount
    837

    Utilities

    Heating system
    Heat Pump (Heating)
    Water source
    Public

    Building Details

    Year built
    1931
    Flooring type
    Tile - Ceramic, Carpet, Vinyl

    We can help!

    Listing Contact
    Matthew Gallimore

    Listing agent Matthew Gallimore License #225062681

    Listing office UC/Blue Ridge Land & Auction PO Box 234 102 South Locust St., Floyd, VA

    Listing date Aug 21, 2025

    MLS# 425069

    Copyright © 2026 New River Valley 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

    • Cape‑cod style building built in 1931 with a durable block foundation and shingle roof
    • Total of 2,764 sq ft with currently 10 office spaces; could be converted back to a 3 bedroom, 1.5 bath home
    • +/- 1‑acre lot with public water and sewer connections
    • Large paved parking lots in both the front and back of the building
    • Commercial‑to‑residential versatility with a layout that supports either use

    Overview

    This cape-cod style office building was constructed in 1931 and sits on an approximately one-acre lot. The property features a durable block foundation and a shingle roof, with interior finishes including a mix of drywall and panel walls and flooring of carpet and tile. The building is currently configured as commercial office use with 10 office spaces.

    The site includes a large, paved parking lot at both the front and back of the building, providing on-site parking for occupants and visitors. Public water and sewer connections are in place, supporting continued commercial use and also making the property functional for alternative uses.

    While the building is currently utilized for commercial purposes, it was used residentially in the past and could be converted back to a 3-bedroom, 1.5-bath home. That flexibility may appeal to owner-occupants or buyers looking for an office setup today with the option to pursue residential conversion, subject to applicable requirements. Overall, the existing office layout, established utilities, and paved parking support practical day-to-day use for a variety of business and conversion scenarios.
    Property Profile Location Intelligence

    Current Use by Public Records

    Insurance Center of Patrick Insurance Agency

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Stuart
    County
    Patrick
    State
    Virginia
    Longitude
    -80.271973
    Latitude
    36.643698

    Nearby Similar for Sale

    • $159,000

      Stuart, VA Investment Opportunity

      Three single-wide mobile homes with rental history in Stuart, VA.
      Buena Vista Avenue, Stuart, VA 24171
      View Details
    • $310,000
      3,000 SF

      Downtown Stuart Storefront Opportunity

      Unique 3000 sq ft commercial building in historic Stuart, VA.
      322 Patrick Avenue, Stuart, VA 24171
      View Details
    • $425,000

      70 Acres Farm with Views

      Sprawling 70-acre farm with mountain views and lush pastures.
      Jeb Stuart Hwy & Massey Rd lot: 5110-4, Stuart, VA 24171
      View Details
    • $249,000
      1,596 SF

      Former Bank Branch in Stuart

      1,596 SF commercial building suitable for various businesses.
      48 Animal Clinic Rd, Stuart, VA 24171
      View Details

    FAQs

    What type of property is this?
    Office building - Cape-cod style office building with public water and sewer and paved parking in front and rear.
    Where is this office building located?
    The property is located at 115 W Blue Ridge Street Stuart, VA.
    What is the asking price?
    The asking price for this property is $199,000.
    What are key features of this property?
    This property features: Cape‑cod style building built in 1931 with a durable block foundation and shingle roof; Total of 2,764 sq ft with currently 10 office spaces; could be converted back to a 3 bedroom, 1.5 bath home; +/- 1‑acre lot with public water and sewer connections
    (540) 239-2585
    We can help!
    Listing Contact
    Matthew Gallimore
    Real Estate License ID: 225062681
    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
    115 W Blue Ridge Street, Stuart, VA 24171
    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!