Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Office/Retail Space Available Title is generated by Realmo AI

    21 CENTRAL AVE N, Staunton, VA 24401

    View on Map
    Claim this Listing
    For Lease
    $1.00 SF/Yr $149/Mo (calc)

    Corner office/retail space with high ceilings and basement storage.

    Type:Commercial
    Property size:
    1,790 SF
    Added:
    Jan 8, 2026
    Days on Market:
    147
    Last Refresh:
    Apr 5 at 11:36 pm

    Property Features for 21 CENTRAL AVE N

    General Information

    Standard status
    Active
    Size
    1,790 SF
    Property subtype
    Commercial

    We can help!

    Listing Contact
    CRAIG ANDERS
    CRAIG ANDERS

    Listing agent CRAIG ANDERS License #0225231207

    Listing office COTTONWOOD COMMERCIAL LLC

    Listing date Jan 8, 2026

    Source Corcoran

    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 COTTONWOOD COMMERCIAL LLC

    HighLights

    • Large 1790SF office/retail space on a prominent corner location.
    • Includes nearly 1300SF of free storage space in the basement.
    • Open floor plan with soaring high ceilings and two private offices.
    • Affordable rent.
    • Excellent visibility on a busy downtown corner.
    • Water included in rent.

    Overview

    This commercial space offers 1790 square feet suitable for office or retail use. Located on the corner of Central Avenue and Frederick Street, the property features high ceilings and an open floor plan, complemented by two private offices. The space includes approximately 1300 square feet of free storage space in a walk-down basement. Situated in a downtown location, the building benefits from high visibility and is anchored by professional tenants. Water is included in the rent. Adjoining space is available, and the property is available for immediate occupancy.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Staunton
    County
    Staunton
    State
    Virginia
    Longitude
    -79.0737
    Latitude
    38.1502

    Nearby Similar for Lease

    • $1.00 SF/Yr

      Office Building in Staunton, VA

      Small office building with great parking and excellent visibility.
      8 MORRIS MILL RD, STAUNTON, VA 24401
      View Details
    • $1.00 SF/Yr

      STAUNTON, VA Office/Retail Space

      Office and retail space available in downtown Staunton.
      23-27 N CENTRAL AVE, STAUNTON, VA 24401
      View Details
    • $1.00 SF/Yr

      Office Space in Staunton, VA

      Affordable office space available in Staunton's Greenbrier Office Park.
      1600 N COALTER ST, STAUNTON, VA 24401
      View Details
    • $1.00 SF/Yr

      Downtown Staunton Office/Retail Space

      Corner office/retail space with high ceilings and basement storage.
      21 N CENTRAL AVE, STAUNTON, VA 24401
      View Details
    • $1.00 SF/Yr

      Staunton Office Suite For Rent

      Lower-level office suite near downtown Staunton with utilities included.
      413 N COALTER ST, STAUNTON, VA 24401
      View Details
    • $1.00 SF/Yr

      Renovated Office Space in Staunton

      Turnkey office space in downtown Staunton with private entrance.
      2 N CENTRAL AVE, STAUNTON, VA 24401
      View Details
    • $1.00 SF/Yr

      Former Bank Branch with Drive-Thru

      2,814 SF former bank branch on 1.55-acre lot for lease.
      488 FRONTIER DR, STAUNTON, VA 24401
      View Details
    • $1.00 SF/Yr

      Retail Space in Richmond Avenue

      Retail space available in Richmond Avenue Shopping Center.
      1028 RICHMOND AVE, STAUNTON, VA 24401
      View Details
    • $900/Mo
      900-900 SF

      Woodward

      Office space near courthouse, theater, and university in Staunton.
      1 South Market St, Staunton, VA 24401
      View Details
    • $1.00 SF/Yr

      Well-Maintained Office Building For Rent

      Two-story office building with restrooms and breakrooms on each floor.
      1020 JEFFERSON HWY, STAUNTON, VA 24401
      View Details
    • $10 SF/Yr
      3,161 SF

      Staunton Medical Office Space Available

      Ground floor medical space available for rent in Staunton.
      108 Mactanly Place, Staunton, VA 24401
      View Details
    • $1.00 SF/Yr

      Versatile Commercial Space in Staunton

      Adaptable retail, medical, or office space near I-81.
      16 GOSNELL CROSSING, STAUNTON, VA 24401
      View Details

    FAQs

    What type of property is this?
    Office units - Corner office/retail space with high ceilings and basement storage.
    Where is this office units located?
    The property is located at 21 CENTRAL AVE N Staunton, VA.
    What is the lease rate?
    The lease rate is $1.00 SF/Yr.
    What are key features of this property?
    This property features: Large 1790SF office/retail space on a prominent corner location.; Includes nearly 1300SF of free storage space in the basement.; Open floor plan with soaring high ceilings and two private offices.
    (540) 434-9922
    We can help!
    Listing Contact
    CRAIG ANDERS
    CRAIG ANDERS
    Real Estate License ID: 0225231207
    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
    21 CENTRAL AVE N, Staunton, VA 24401
    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!