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    18145 Main St Buchanan, VA 24066

    Sponsored
    For Lease
    $6 SF/Yr ($3,045 /Mo)

    5,800 SF Office, Main Street, VA

    Lot size:
    5,800 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    404
    This exceptional 5,800-square-foot office building presents a unique investment opportunity in Buchanan, Virginia. Located at 18145 Main St, this two-story, single-tenant property offers a versatile layout ideal for a variety of businesses. Built in 1950, the building features a traditional office design with a mix of private offices and open work areas, catering to diverse operational needs. The main floor encompasses 3,333 square feet, while the second floor provides an additional 2,467 square feet, accessible via a walk-up staircase. The entire 5,800 square feet is currently vacant, providing immediate occupancy for a new tenant. The property's APN is 65(6)C, situated in Botetourt County, VA, zip code 24066. This prime location on Main Street offers excellent visibility and accessibility. The building does not include elevators. This is a rare opportunity to acquire a substantial, well-located office building in a desirable Virginia town. The property's size and layout offer significant potential for customization and adaptation to suit a wide range of business requirements. Its traditional design blends seamlessly with the character of Buchanan, while its vacant status allows for immediate occupancy and tailored renovations. Serious inquiries are encouraged.

    Property Features for 18145 Main St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,800 SF
    Total Rate
    3045

    Building Details

    Year Built
    1950
    Stories
    2

    Unit(s) available at that property

    Space
    Size
    5,800 SF
    Rate per SF
    $6

    We can help!

    Listing Contact
    Henry Scholz
    Henry Scholz

    Learn more

    Property Insight Report

    HighLights

    • High‑traffic Main Street location.
    • Excellent visibility and accessibility.
    • Strong pedestrian and vehicular traffic counts.
    • Prime retail space in a thriving commercial corridor.
    • High density of surrounding businesses and residential units.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Wholesale Shop Gym & Fitness Grocery Store Bar & Pub Electrical Service Convenience Store Pawn Shop Arcade & Gaming Center Toy Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Buchanan
    County
    Botetourt
    State
    Virginia
    Longitude
    -79.7027813
    Latitude
    37.5152003

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    FAQs

    What type of property is this?
    Office Property / Space - 5,800 SF Office, Main Street, VA
    Where is this office property / space located?
    The property is located at 18145 Main St Buchanan, VA.
    What is the lease rate?
    The lease rate is $6 SF/Yr.
    What are key features of this property?
    This property features: High-traffic Main Street location.; Excellent visibility and accessibility.; Strong pedestrian and vehicular traffic counts.
    Request Owner's contact information
    18145 Main St Buchanan, VA 24066
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    Buchanan, VA 24066
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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.

    More about this property
    18145 Main St Buchanan, VA 24066
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    We can help!
    Listing Contact
    Henry Scholz
    Henry Scholz
    Real Estate License ID: VA 0225055191
    Learn more
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