Building Details

Year Built 1990

Stories 2

Tenancy Multi

Listing Agency: Oakcrest Commercial Real Estate

Listed By: Suzanne H Conrad · License #0225185925 Show Phone

Source: Tbhteam

Added: Jul 21 Changed: Oct 7 Last Checked: Oct 7 at 1:42PM

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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 Oakcrest Commercial Real Estate

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Investment Insights

Based on property information with market context.

This two-story office building totals 8,244 SF on 0.66 acres and is described as being in excellent condition. The first floor includes approximately 4,000 SF available for lease. The second floor contains 7 small suites, with 6 currently leased.

The property is located at the intersection of Commerce and John Marshall Highway in Front Royal, VA. Parking is available in both the front and rear of the building.

The configuration supports both owner-user use and investment, with established occupancy on the upper level and a leasing opportunity on the main level.

Key Highlights

• Two‑story office building built in 1990 with 8,244 SF on 0.66 acres
• Intersection location at Commerce and John Marshall Highway
• First floor offers approximately 4,000 SF available for lease

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$110,381

Cap Rate

8.83%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,207,620 $2.2M

Cap Rate 7%

$1,576,871 $1.6M

Cap Rate 9%

$1,226,456 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,244 SF

Gross rent

$172.1K $20.88/SF

− Vacancy

−$25.0K −$3.03/SF

EGI

$147.2K $17.85/SF

− OpEx

−$36.8K −$4.46/SF

NOI

$110.4K $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%

$2,207,620

Cap Rate 7%

$1,576,871

Cap Rate 9%

$1,226,456

Alternative Uses

Best Use

Office B

$1.58M

$1.38M – $1.84M (±1% cap)

NOI $110,381 @ 7.0% cap · market cap 8.83%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$4.58M

$4.01M – $5.34M (±1% cap)

NOI $320,527 @ 7.0% cap · market cap 25.64%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Camryn Santmyers- Weichert, ... Real Estate Agency Carol Jaworski Realtor ... Real Estate Agency Weichert Realtors - Blue ... Real Estate Agency Melanie Hamel - Weichert, ... Real Estate Agency Kristina Towns Realtor Real Estate Agency

Suggested Use

Top Pick Dental Office Storage Facility Catering Service Skin Care Clinic (Bike/Boat/Book/etc) Store Butcher

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

781

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

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Two-story office building with 7 small second-floor suites and a first-floor space available for lease.

Where is this office building located?

The property is located at 824 John Marshall Hwy Front Royal, VA.

What is the asking price?

The asking price for this property is $1,250,000.

What are key features of this property?

This property features: Two‑story office building built in 1990 with 8,244 SF on 0.66 acres; Intersection location at Commerce and John Marshall Highway; First floor offers approximately 4,000 SF available for lease