Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space in Forest, VA Title is generated by Realmo AI

    14521 Forest Rd, Forest, VA 24551

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    1,400 SF retail space in a busy shopping center.

    Type:Retail, Office
    Property size:
    1,400 SF
    Added:
    Mar 12, 2026
    Days on Market:
    73
    Last Refresh:
    Mar 16 at 12:32 pm

    Property Features for 14521 Forest Rd

    General Information

    Standard status
    Active
    Size
    1,400 SF
    Property subtype
    Retail, Office

    Spaces For Lease

    at 14521 Forest Rd Contact us

    We can help!

    Listing Contact
    Ricky Read
    Ricky Read

    Listing agent Ricky Read License #0226023041

    Listing office Coldwell Banker Commercial Read & Co.

    Listing date Mar 12, 2026

    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 Coldwell Banker Commercial Read & Co.

    HighLights

    • High visibility location on Rt. 221 (Forest Rd.)
    • Located in the heart of Forest, VA
    • Strong tenant mix including ABC Store, Domino's, and OrthoVA
    • 1,400 SF available space with an open floor plan
    • Adjacent to an ABC Store
    • Sheetz located next door

    Overview

    Parsons Place Shopping Center is a 15,200 SF strip center situated in Forest, VA, offering visibility from Rt. 221 (Forest Rd.). A 1,400 SF space is available, featuring an open floor plan and located next to an ABC Store. The tenant mix includes an ABC Store, Domino's, OrthoVA, 221 Tap & Table, and a Nail Salon. A Sheetz is located next door.
    Property Profile Location Intelligence

    Current Use by Public Records

    Best Nails & Spa Nail Salon OrthoVirginia Physical Therapy: ... Medical Clinic OrthoVirginia Forest Medical Clinic FASTSIGNS (Bike/Boat/Book/etc) Store Domino's Pizza Take-out & Catering

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Forest
    County
    Bedford
    State
    Virginia
    Longitude
    -79.3013282
    Latitude
    37.3692508

    Nearby Similar for Lease

    • $10 SF/Yr
      4,000 SF

      Retail/Office/Flex Space Available

      4,000 SqFt retail, office, or flex space for rent.
      17824 Forest Rd, Forest, VA 24551
      View Details
    • $20 SF/Yr
      1,750 SF

      Forest Office Suite For Rent

      1,750 SF office suite in a convenient Forest location.
      300 Enterprise Dr, Forest, VA
      View Details
    • $16 SF/Yr

      1,800 SF Office Space For Lease

      1,800 sq. ft. office space in Forest, VA.
      300 Gristmill Drive, Forest, VA 24551
      View Details
    • $16 SF/Yr
      2,400 SF

      Retail Space in Forest, Virginia

      Retail spaces available in Food Lion anchored shopping center.
      18013 Forest Rd, Forest, VA
      View Details
    • $15 SF/Yr
      2,100 SF

      Forest VA Office Space Available

      Office space for rent in Forest Professional Park.
      1088 Vista Park Dr, Forest, VA 24551
      View Details
    • Contact for pricing
      4,185 SF

      Professional Office Space Available

      Second floor office suites and individual offices for rent.
      110 Vista Centre Dr, Forest, VA 24551
      View Details
    • Contact for pricing
      4,185 SF

      Professional Office Space Available

      Second floor office suites and individual offices for rent.
      110 Vista Centre Dr, Forest, VA 24551
      View Details

    FAQs

    What type of property is this?
    Strip mall - 1,400 SF retail space in a busy shopping center.
    Where is this strip mall located?
    The property is located at 14521 Forest Rd Forest, VA.
    What are key features of this property?
    This property features: High visibility location on Rt. 221 (Forest Rd.); Located in the heart of Forest, VA; Strong tenant mix including ABC Store, Domino's, and OrthoVA
    (434) 455-2285 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ricky Read
    Ricky Read
    Real Estate License ID: 0226023041
    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
    14521 Forest Rd, Forest, VA 24551
    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!