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    Flex Building with Garage Shop Title is generated by Realmo AI

    3231 STUARTS DRAFT HWY, Stuarts Draft, VA 24477

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    For Sale
    $850,000

    Building - STUARTS DRAFT, VA

    Property size:
    5,600 SF
    Lot size:
    0.78 Acres
    Price / SF:
    $151/SF
    Added:
    Jun 4, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 4 at 2:06 pm

    Property Features for 3231 STUARTS DRAFT HWY

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    GB General Business
    Parking
    10
    Standard status
    Active
    APN
    30 & 31
    Size
    5,600 SF
    Lot size
    0.78 Acres

    Utilities

    Heating system
    Oil

    Building Details

    Year built
    1987
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Concrete
    Building materials
    Metal Siding
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    CHARITY COX

    Listing agent CHARITY COX

    Listing office LONG & FOSTER REAL ESTATE INC STAUNTON/WAYNESBORO 16 GOSNELL CROSSING, STAUNTON, VA

    Listing date Jun 4, 2026

    MLS# 678004 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

    • Commercial property built in 1987 with metal roof and metal siding
    • Large garage/shop space with tall ceilings for contractor and trades use
    • Includes office space and a half bath
    • Oil heating with concrete flooring
    • Front‑of‑lot updated cottage‑style home that can be used for rental, owner‑occupancy, office, or additional income

    Overview

    This for-sale flex building combines an adaptable commercial workspace with a residential-style component. The garage/shop area is designed for contractor and light industrial needs, supported by tall ceilings and office space for administrative work. A half bath is also included to serve day-to-day operations. In addition, the property features an updated cottage-style home positioned at the front of the lot, offering flexibility for rental use, owner occupancy, or additional workspace.

    Located in Stuarts Draft, Virginia at 3231 Stuarts Draft Hwy (24477), the property is described as having outstanding visibility and ample parking to support regular customer or contractor traffic. Zoning is GB General Business, supporting a wide range of general business uses consistent with the property’s mixed layout.

    With tall-ceiling shop space and dedicated office room, this setup can fit tenants and buyers seeking a combined work-and-admin environment, including contractors and small businesses that benefit from an on-site office. The included front-lot cottage-style home can also be used as a rental property, an owner-occupant residence, or a live-work arrangement, depending on the operating needs of the next user. The site totals 0.78 acres and includes 5,600 square feet of building area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Stuarts Draft
    County
    Augusta
    State
    Virginia
    Longitude
    -79.0111103
    Latitude
    38.0417413

    Nearby Similar for Sale

    • $800,000
      2,872 SF

      Restaurant Building with Drive-Thru

      High-visibility corner restaurant with drive-thru on Stuarts Draft Hwy.
      2897 STUARTS DRAFT HWY, STUARTS DRAFT, VA 24477
      View Details
    • $950,000
      4,337 SF

      Augusta County Land Opportunity

      60 acres of land perfect for farming and recreation.
      514 LIPSCOMB RD, STUARTS DRAFT, VA 24477
      View Details

    FAQs

    What type of property is this?
    Flex space - Versatile flex building with a large garage/shop, office space, and an updated cottage-style home on the same lot.
    Where is this flex space located?
    The property is located at 3231 STUARTS DRAFT HWY Stuarts Draft, VA.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: Commercial property built in 1987 with metal roof and metal siding; Large garage/shop space with tall ceilings for contractor and trades use; Includes office space and a half bath
    (540) 294-5682
    We can help!
    Listing Contact
    CHARITY COX
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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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    3231 STUARTS DRAFT HWY, STUARTS DRAFT, VA 24477
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