Current Use by Public Records
- Virginia Natural Health / Alternative Medicine Practice
Property Details for 1561 Commerce Rd
- Year built
- 2006
- Lot size
- 0.25 lot acres
- Property type
- Office Spaces
- Property subtype
- Medical Office Space
Description
This stabilized Class B medical office building in Staunton, VA, offers a compelling investment opportunity. The 7,500 square foot property is 100% occupied by Ivy Rehab Synergy Physical Therapy under a modified gross lease with a remaining term of 4.6 years, expiring June 29, 2029, and includes two 5-year renewal options. Built in 2006, this single-story, single-tenant building sits on a 0.25-acre lot and boasts a strong NOI of $76,988, resulting in a 7.62% cap rate and a price per square foot of $134.67. The asking price is $1,010,000. The property benefits from its location on Commerce Road, a major thoroughfare with high daily traffic volume (13,595 vehicles per day), providing excellent visibility and accessibility. Its proximity to downtown Staunton offers convenient access to amenities. This investment presents a secure, stable income stream with significant upside potential through lease renewals. The property is a condominium ownership. The tenant has a corporate guarantee. Annual rent increases are 2%.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Staunton
- County
- Augusta
- State
- Virginia
- Longitude
- -79.0233
- Latitude
- 38.1897
