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    Open Medical Office Suite Title is generated by Realmo AI

    221 Osage Lane Suite B, Waynesboro, VA 22980

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    New
    For Lease
    $16 SF/Yr $4,000/Mo (calc)

    Flexible open layout for medical, dental, therapy, or professional office uses with tenant-paid utilities under a modified gross lease.

    Type:Office
    Property size:
    3,000 SF
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 2:27 am

    Property Features for 221 Osage Lane Suite B

    General Information

    Standard status
    Active
    Size
    3,000 SF
    Property subtype
    Office

    Building Details

    Year Built
    2018

    Spaces For Lease

    at 221 Osage Lane Suite B Contact us

    We can help!

    Listing Contact
    Isaac Grant

    Listing agent Isaac Grant

    Listing office COTTONWOOD COMMERCIAL LLC

    Listing date Jun 2, 2026

    Source Tcnworldwide

    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

    • 3,000 SF of open commercial space on Lew Dewitt Blvd in Waynesboro
    • Compatible with medical, dental, physical therapy, chiropractic, staffing, or professional office use
    • Modified gross lease at $16/SF ($4,000/month); tenant pays utilities
    • Rent abatement available for qualified 3+ year leases
    • 2018 build with space ready for your custom build‑out

    Overview

    Suite B offers approximately 3,000 SF of open commercial space designed to support medical, dental, physical therapy, chiropractic, staffing, or professional office use. The space is ready for your custom build-out, with an open layout that can accommodate a range of treatment rooms, offices, and service configurations.

    The suite is located along Lew Dewitt Blvd in Waynesboro, providing a straightforward setting for patient and client visits. The property is offered under a modified gross lease structure, with the tenant responsible for utilities. Rent abatement may be available for qualified 3+ year leases, which can help support longer-term occupancy planning.

    This offering is well-suited for healthcare providers and service-focused practices seeking flexibility at the outset, particularly those that need to tailor interior improvements to their operating model. It also fits professional users looking for an open, customizable environment where build-out decisions can align with workflow and client expectations. With the space positioned for a range of office and clinical uses, it’s a practical option for tenants planning a longer runway and a customized interior from day one.
    Location Intelligence

    Current Use by Public Records

    Vision Tech Optometry ... Physician Jennifer Davis OD Physician Vision Tech Optometry ... Physician Mark D. Rodammer, ... Physician

    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

    • Animal Health Care Center — 1935 Rosser Ave, Waynesboro, VA 22980
    • Animal Health Care Center: Comer Elexis DVM — 1935 Rosser Ave, Waynesboro, VA 22980
    • Weiss Valerie a DVM — 2637 W Main St, Waynesboro, VA 22980
    • Animal Hospital of Waynesboro: Gregory P Lorenz DVM — 2637 W Main St, Waynesboro, VA 22980
    • Van Lear Brett DVM — 1935 Rosser Ave, Waynesboro, VA 22980

    Location Insight

    • Map
    • Local Demand
    City
    Waynesboro
    County
    Waynesboro
    State
    Virginia
    Longitude
    -78.9362835
    Latitude
    38.0741724

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    FAQs

    What type of property is this?
    Medical Office Space - Flexible open layout for medical, dental, therapy, or professional office uses with tenant-paid utilities under a modified gross lease.
    Where is this medical office space located?
    The property is located at 221 Osage Lane Suite B Waynesboro, VA.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: 3,000 SF of open commercial space on Lew Dewitt Blvd in Waynesboro; Compatible with medical, dental, physical therapy, chiropractic, staffing, or professional office use; Modified gross lease at $16/SF ($4,000/month); tenant pays utilities
    (540) 448-1588
    We can help!
    Listing Contact
    Isaac Grant
    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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