Mixed-Use Corner
For Sale
$399,900
Pending
505 S ROYAL AVENUE, Front Royal, VA 22630
Three-level commercial building with a separate street-level entrance and flexible office-retail configuration.
Property Size2,400 SF
Days on Market57
Property Features for 505 S ROYAL AVENUE
General Information
Standard status
Pending
Size
2,400 SF
Property subtype
Commercial
Site & Location
Corner Location
Yes
Road Access
Yes
Building Details
Year Built
1965
Buildings
1
Listing Agency:
Morris & Co. Realty, LLC
(540) 631-1414
Listed By:
Raymond E Heflin Jr.
(540) 974-7665
Source:
Cummingsrealtors
Added: Aug 11
Changed: Oct 6
Last Checked: Oct 5 at 6:25PM
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 Morris & Co. Realty, LLC
Investment Insights
Based on property information with market context.
This 2,400-square-foot mixed-use commercial property has supported both office and retail operations. The street-facing lower level provides approximately 800 square feet and a private entrance, while the main and upper levels together contain approximately 1,600 square feet. The layout offers distinct areas that can accommodate separate occupants or complementary business functions.
The building sits at the corner of a signalized intersection on S Royal Avenue, a short distance from the entrance to Skyline Drive. Its established commercial configuration has accommodated a range of office and storefront uses over time, including retail, professional office, and adult day care operations. Built in 1965, the property presents a multi-level format for an owner-user or commercial income strategy.
The building sits at the corner of a signalized intersection on S Royal Avenue, a short distance from the entrance to Skyline Drive. Its established commercial configuration has accommodated a range of office and storefront uses over time, including retail, professional office, and adult day care operations. Built in 1965, the property presents a multi-level format for an owner-user or commercial income strategy.
Key Highlights
- Approximately 2,400 square feet across lower, main, and upper levels
- Approximately 800‑square‑foot lower level with a private street‑side entrance
- Main and upper levels total approximately 1,600 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,134
Cap Rate
8.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$642,680
$642.7K
Cap Rate 7%
$459,057
$459.1K
Cap Rate 9%
$357,044
$357.0K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$50.1K $20.88/SF
− Vacancy
−$7.3K −$3.03/SF
EGI
$42.8K $17.85/SF
− OpEx
−$10.7K −$4.46/SF
NOI
$32.1K $13.39/SF
Area
Warren County, VA
Vacancy
14.50%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$642,680
Cap Rate 7%
$459,057
Cap Rate 9%
$357,044
Alternative Uses
Best Use
Retail
$1.15M
$1.00M – $1.34M
NOI $80,284 @ 7.0% cap · market cap 20.08%
Second Best
Mixed Use
$597.9K
$523.1K – $697.5K
NOI $41,850 @ 7.0% cap · market cap 10.47%
Theoretical Best
Specialty Retail
$1.33M
$1.17M – $1.56M
NOI $93,312 @ 7.0% cap · market cap 23.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
896
Businesses Nearby
Explore this area
Business Placement
Demographics for 22630, VA
33,829
Population
14,465
Households
2.3
Avg Household Size
42
Median Age
26%
College-Educated
89%
High-School Grad
121.9 sq mi
ZIP Area
278
Density / Sq Mi
$84,513
Median Household Income
$44,771
Median Earnings
$1,183
Median Rent
$329,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-level commercial building with a separate street-level entrance and flexible office-retail configuration.
Where is this mixed-use property located?
The property is located at 505 S ROYAL AVENUE Front Royal, VA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Approximately 2,400 square feet across lower, main, and upper levels; Approximately 800‑square‑foot lower level with a private street‑side entrance; Main and upper levels total approximately 1,600 square feet
