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    Multiple Pre-Engineered Industrial Buildings Title is generated by Realmo AI

    183 MULE ACADEMY RD, Fishersville, VA 22939

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    Picture of Warehouses at 183 MULE ACADEMY RD, Fishersville, VA
    For Sale
    $2,000,000

    Building - FISHERSVILLE, VA

    Property size:
    34,709 SF
    Lot size:
    9.16 Acres
    Price / SF:
    $57/SF
    Added:
    Apr 2, 2026
    Days on Market:
    64
    Last Refresh:
    Jun 4 at 10:06 pm

    Property Features for 183 MULE ACADEMY RD

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    GI General Industrial
    Standard status
    Active
    APN
    06799A
    Size
    34,709 SF
    Lot size
    9.16 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2413.32

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    PETER WRAY
    PETER WRAY

    Listing agent PETER WRAY

    Listing office TRIANGLE REALTORS 2903 N. AUGUSTA STREET, STAUNTON, VA

    Listing date Apr 2, 2026

    MLS# 675241 Listing URL

    Copyright © 2026 Greater Augusta 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

    • Industrial‑zoned property across from Augusta Health Medical Center
    • Over 9 acres with long frontage on Mule Academy Rd
    • Multiple pre‑engineered metal buildings totaling approx. 35,000 SF
    • Minutes from I‑64

    Overview

    The property is a general industrial (GI) zoned industrial site improved with multiple pre-engineered metal buildings. The buildings total approximately 35,000 square feet and are situated on a lot size of 9.16 acres, with long frontage along Mule Academy Rd. The configuration is suited to tenants or operators looking for flexibility across several enclosed structures within a single consolidated footprint.

    The site is located in Fishersville, Virginia, across from Augusta Health Medical Center and minutes from I-64. With its extended frontage on Mule Academy Rd, the property offers practical access and visibility from the main road corridor serving the area. The seller’s remarks note that the property is not to be visited without a broker.

    From a tenant and buyer perspective, the combination of GI zoning, multiple buildings, and a sizable industrial lot can support a range of industrial uses that fit within the general industrial category. If you are evaluating an acquisition for light to mid-sized operations needing separate building spaces, this consolidated setup may provide an efficient way to organize current or future uses within one site rather than through multiple standalone facilities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Blue Ridge Lumber ... Big Box & Wholesale Store

    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.

    Similar Places Nearby

    • Staunton Self-Storage — 1569 Jefferson Hwy UNIT 103, Fishersville, VA 22939
    • Fishersville Mini Storage — 1725 Jefferson Hwy, Fishersville, VA 22939

    Location Insight

    • Map
    • Local Demand
    City
    Fishersville
    County
    Augusta
    State
    Virginia
    Longitude
    -78.9827869
    Latitude
    38.0997194

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    FAQs

    What type of property is this?
    Warehouse - General industrial zoned site with long road frontage and multiple pre-engineered metal buildings totaling about 35,000 SF.
    Where is this warehouse located?
    The property is located at 183 MULE ACADEMY RD Fishersville, VA.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: Industrial‑zoned property across from Augusta Health Medical Center; Over 9 acres with long frontage on Mule Academy Rd; Multiple pre‑engineered metal buildings totaling approx. 35,000 SF
    (540) 849-9020
    We can help!
    Listing Contact
    PETER WRAY
    PETER WRAY
    Real Estate License ID: 0225063526
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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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