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Property profile & analytics
FOR LEASE
Super regional malls
1028 Richmond Ave Staunton, VA 24401
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US87-2570095
For Lease
1 / 26
$595,000
1028 Richmond Ave, Staunton, VA 24401
View Listing →
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
2004
Total area
11,760 SF
Lot
1.33 ac (58,098 SF)
Zoning code
B2
APN
10361
UPID
US87-2570095
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Dunkin' Cafe & Coffee Shop
-
Subway Take-out & Catering Catering Service
-
Walmart Business Center Tech Support Center (Bike/Boat/Book/etc) Store
-
Karen L Schmidt OD PLLC Physician
-
Primo Water Refill & Exchange Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$595k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$595k
Owner & transaction history
Janis Brown Land Holdings LLC · 19 yrs held
Janis Brown Land Holdings LLC
since 2007
2 recorded transactions
Zoning & alternative use
B2 · Staunton, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Staunton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Staunton submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$595,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$990,000
Change: 0% · Conversion: Easy
RETAIL STORES
$715,000
Change: 0% · Conversion: Easy
AUTO REPAIR, GARAGE
$545,000
Change: 0% · Conversion: Difficult
WAREHOUSE, STORAGE
$525,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$595k
Range $536k – $655k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$51 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$28,335
Tax year 2023
Assessed value
$3,183,700
Assessed 2024
Previous assessed
$3,183,700
+0.0% YoY
Effective rate
0.89%
On assessed value
Assessed land
$929,900
Assessed improvement
$2,253,800
Land market value
$929,900
Improvement market value
$2,253,800
Total market value
$3,183,700
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
For Lease
Year built
2004
Cooling
YES
Rooms
6
Total area
11,760 SF
Lot
1.33 ac (58,098 SF)
Zoning code
B2
APN
10361
UPID
US87-2570095
Jurisdiction
STAUNTON CITY
Zoning & alternative use
B2 · Staunton, VA
Zoning B2 · permitted uses
B2 · Staunton, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Staunton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$990,000
RETAIL STORES
Est. value
$715,000
AUTO REPAIR, GARAGE
Est. value
$545,000
WAREHOUSE, STORAGE
Est. value
$525,000
COMMERCIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2004
Cooling
Yes
Rooms
6
Lot
1.33 ac
Current owner
From public records · entity-resolved
Janis Brown Land Holdings LLC
Entity
Mailing address
PO BOX 2037, HARRISONBURG, VA 22801-9503
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 13, 2017
—
Janis Brown Land Holdings LLC
—
Deed
related
$2,683,706 · Union Bank & Trust
Mar 7, 2007
—
Janis Brown Land Holdings LLC
Janis Brown
Deed
$2,700,000 · Lehman Brothers Bank Fsb
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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