Add Listing
    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

    15394 Kings Highway Montross, VA 22520

    View on Map
    Picture of Other office properties at 15394 Kings Highway, Montross, VA
    For Sale
    $1,600,000

    8,000 SF Freestanding Medical Building for Sale

    Property size:
    8,000 SF
    Lot size:
    5.83 Acres
    Price / SF:
    $200/SF
    Added:
    Apr 9, 2025
    Days on Market:
    382
    Last Refresh:
    Mar 16 at 9:06 am

    Property Features for 15394 Kings Highway

    General Information

    Standard status
    Active
    Property type
    Other office properties, Medical Office Space, Office buildings, Office properties & Spaces
    Size
    8,000 SF
    Elevators
    N/A
    Lot size
    5.83 Acres

    Building Details

    Year Built
    2005
    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Ben Keddie

    Listing agent Ben

    Listing office Coldwell Banker Commercial Elite

    Listing date Apr 9, 2025

    Overview

    Freestanding Medical Building on Kings Hwy

    This 8,000 SF freestanding medical building is available for sale in Montross, Virginia. Constructed in 2005, the property is situated on 5.830 acres on Kings Hwy, also known as Route 3, the town's main thoroughfare, within Westmoreland County. Formerly a Regional Cancer Center, the property is in great condition.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mid-Rivers Cancer Center Physician Dr. Christopher S. ... Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Montross
    County
    Westmoreland
    State
    Virginia
    Longitude
    -76.833988
    Latitude
    38.091884

    Nearby Similar for Sale

    • $229,000
      2,912 SF

      Versatile Commercial Property on 1.4 Acres

      Commercial property near Montross, VA, suitable for various enterprises.
      2699 Cople Hwy, Montross, VA 22520
      View Details
    • $500,000

      Operational Educational Facility in Montross

      Turnkey educational facility on 5.39 acres in Westmoreland County.
      2054 NEENAH Road, MONTROSS, VA 22520
      View Details
    • $129,000
      4,232 SF

      Historic Montross Commercial Opportunity

      Fixer-upper with potential in Montross, near Westmoreland State Park.
      10521 Kings Hwy, Montross, VA 22520
      View Details
    • $295,000
      12,000 SF

      Renovated Gymnasium & Assembly Facility

      Adaptable facility for recreation, events, or institutional use.
      2054 NEENAH Rd B, Montross, VA 22520
      View Details
    • $1,900,000
      10,500 SF

      10,500 SF B & P Building For Sale

      10,500 SF commercial property in Montross, VA, built in 1994.
      15885 Kings Highway, Montross, VA 22520
      View Details
    • $895,000
      10,672 SF

      Standalone Industrial Property on Kings Highway

      10,000+ SF industrial property on 5+ acres for sale.
      15268 Kings Hwy, Montross, VA 22520
      View Details
    • $1,150,000
      11,000 SF

      Retail Center Value-Add Opportunity

      Well-maintained retail center with immediate upside potential in Montross, VA.
      17272 Kings Hwy, Montross, VA 22520
      View Details
    • $275,000
      1,674 SF

      Turnkey Restaurant in Montross, Virginia

      Roadside family restaurant with indoor and outdoor seating.
      15220 Kings Highway, Montross, VA 22520
      View Details
    • $349,000
      1,674 SF

      Turnkey Restaurant in Montross, Virginia

      Roadside family restaurant with indoor and outdoor dining.
      15220 Kings Hwy, Montross, VA 22520
      View Details
    • $1,600,000
      8,000 SF

      Montross Medical Office For Sale

      Freestanding 8,000 SF medical office on 5.8 acres.
      15394 Kings Hwy, Montross, VA
      View Details
    • $1,600,000
      8,000 SF

      Medical Office on Kings Hwy

      8,000 SF medical office on 5.83 acres for sale.
      15394 Kings Hwy, Montross, VA 22520
      View Details

    FAQs

    What type of property is this?
    Office property - 8,000 SF Freestanding Medical Building for Sale
    Where is this office property located?
    The property is located at 15394 Kings Highway Montross, VA.
    What is the asking price?
    The asking price for this property is $1,600,000.
    (540) 786-1402
    We can help!
    Listing Contact
    Ben Keddie
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!