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    Mixed-Use Office and Retail Building Title is generated by Realmo AI

    1235 SEMINOLE, Madison, VA 22719

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    New
    For Sale
    $729,000

    Approximately 2,500 finished feet support professional office use and specialty retail concepts on a 2-acre site.

    Type:Commercial
    Property size:
    2,500 SF
    Lot size:
    2.00 Acres
    Price / SF:
    $291/SF
    Added:
    Jun 1, 2026
    Days on Market:
    7
    Last Refresh:
    Jun 6 at 3:16 am

    Property Features for 1235 SEMINOLE

    General Information

    Standard status
    Active
    Size
    2,500 SF
    Lot size
    2.00 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1979

    We can help!

    Listing Contact
    Allen Griffey

    Listing agent Allen Griffey

    Listing office

    Listing date Jun 1, 2026

    Source Elliman

    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 Allen Griffey

    HighLights

    • Approximately 2,500 finished SF suitable for professional office and specialty retail concepts
    • Flexible use for contractors office, medical, dental, and other professional services
    • 2‑acre site with recent tenant history including a retail gift shop and salon
    • Year built: 1979

    Overview

    This mixed-use property is suited for a range of professional and retail uses, including contractors’ offices and medical or dental practices. The building includes approximately +/- 2,500 feet of finished floor area and has supported retail operations previously, with a retail gift shop and a salon listed as the most recent operators.

    The property is located at 1235 Seminole in Madison, VA 22719, and is positioned for car-dependent access, with a walkScore of 23 and a bikeScore of 19 (Somewhat Bikeable). It sits on a 2-acre site with the option to build new.

    From a tenant or buyer fit perspective, the existing finished space can be used for professional services and appointment-driven operations, while the site configuration and ability to build new may also align with alternative uses such as self-storage development. The current offering is therefore best suited for buyers who want a flexible commercial platform and the ability to adapt the site to their intended business plan.
    Location Intelligence

    Current Use by Public Records

    Patti Lillard - Montague ... Real Estate Agency Exclusive Auto Sale Car Dealership

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Auto Repair Shop Auto Parts Store Department Store Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Madison
    State
    Virginia
    Longitude
    -78.2394176
    Latitude
    38.3934917

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    FAQs

    What type of property is this?
    Office units - Approximately 2,500 finished feet support professional office use and specialty retail concepts on a 2-acre site.
    Where is this office units located?
    The property is located at 1235 SEMINOLE Madison, VA.
    What is the asking price?
    The asking price for this property is $729,000.
    What are key features of this property?
    This property features: Approximately 2,500 finished SF suitable for professional office and specialty retail concepts; Flexible use for contractors office, medical, dental, and other professional services; 2‑acre site with recent tenant history including a retail gift shop and salon
    (540) 379-9437
    We can help!
    Listing Contact
    Allen Griffey
    Learn More
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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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