Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    572 Lee Hwy Verona, VA 24482

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    912 sq ft office condo, prime location.

    Property size:
    912 SF

    Property Features for 572 Lee Hwy

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    912 SF

    Building Details

    Stories
    2
    Units
    1

    We can help!

    Listing Contact
    PETER WRAY
    PETER WRAY

    Listing Agency: TRIANGLE REALTORS Listing Agent: PETER WRAY

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 912-square-foot office condo presents a fantastic investment opportunity in Verona, Virginia. Located at 572 Lee Highway, this property boasts a desirable location on Route 11, ensuring high visibility and easy accessibility. The building is constructed of attractive brick. The condo itself is a traditional office space, perfect for a variety of professional uses. Priced at $136,800, this represents an excellent value at $150 per square foot. The property features a single unit spread across two stories, offering ample space for a business to grow. The permitted zoning is B-1, providing flexibility for various commercial ventures. This is a turnkey opportunity for an owner-occupier or investor seeking a well-located, established office space in a thriving community. The address is 572 Lee Highway, Verona, VA 24482, within Augusta County. This property is ready for immediate occupancy. Don't miss this chance to acquire a valuable asset in a highly sought-after area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Honest Weight Loss ... Weight Loss Service

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Verona
    County
    Augusta
    State
    Virginia
    Longitude
    -79.004723873871
    Latitude
    38.205986840277

    Nearby Similar for Sale

    • $1,500,000
      7,629 SF

      Multi-Use Property in Verona, VA

      High-visibility property with multiple dwellings and business potential.
      140 Lee Hwy, Verona, VA 24482
      View Details
    • $1,700,000
      14,824 SF

      Versatile Buildings Near I-81

      Portfolio of buildings suitable for office, retail, or flex use.
      47 Lee Hwy, Verona, VA 24482
      View Details
    • $450,000

      Verona Specialty Property For Sale

      Specialty property available for purchase in Verona, Virginia.
      209 Raintree Rd, Verona, VA 24482
      View Details
    • $400,000
      2,736 SF

      Lee Highway Office Building

      Prime Verona Office, 2,736 SF, $400K
      572 Lee Hwy, Verona, VA 24482
      View Details
    • $1,600,000
      2.34 Acres

      Lee Highway Multi-Use Portfolio

      Verona, VA Flex Space Investment Opportunity
      47 Lee Hwy, Verona, VA 24482
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - 912 sq ft office condo, prime location.
    Where is this office property / space located?
    The property is located at 572 Lee Hwy Verona, VA.
    What is the asking price?
    The asking price for this property is $136,800.
    What are key features of this property?
    This property features: 912-square-foot office condo in Verona, VA, priced at $136,800 ($150/SF).; Located at 572 Lee Highway (Route 11) for high visibility and accessibility.; Attractive brick building with B-1 zoning, offering flexibility for various commercial uses.
    (540) 849-9020 Call to check price and availability
    Request Owner's contact information
    572 Lee Hwy Verona, VA 24482
    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.
    572 Lee Hwy
    Verona, VA 24482
    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
    572 Lee Hwy Verona, VA 24482
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing PETER WRAY
    PETER WRAY
    (540) 849-9020 (540) 885-5181
    Learn more
    Google sign-in failed. Please try again or use another login method.