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    Property profile & analytics

    1028 Richmond Ave Staunton, VA 24401

    • Super regional malls
    • 11,760 SF
    • 1.33 lot acres
    For Lease
    View listing
    $1.00 SF/Yr
    Value Estimations
    $595,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-2570095
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by 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

    Property Details for 1028 Richmond Ave

    Year built
    2004
    Lot size
    1.33 lot acres
    Property size
    11,760 SF
    Zone code
    B2
    Property type
    Super regional malls
    APN
    10361
    APU
    10361

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $595,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $990,000
      RETAIL STORES
      $715,000
      AUTO REPAIR, GARAGE
      $545,000
      WAREHOUSE, STORAGE
      $525,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Staunton
    County
    Staunton City
    State
    Virginia
    Longitude
    -79.046
    Latitude
    38.1362
    CBSA code
    44420
    CBSA name
    STAUNTON-WAYNESBORO, VA MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $28,335
    $929,900
    $2,253,800
    $3,183,700
    -
    $929,900
    $2,253,800
    $3,183,700

    Comparable in this City

    • Value Estimation by Request
      12,210 SF

      1209 Richmond Ave

      REGIONAL SHOPPING CENTER, MALL • 12,210 SF
      1209 Richmond Ave, Staunton, VA 24401-5069
      View Details
    • Value Estimation by Request
      10,000 SF

      729 Richmond Ave

      REGIONAL SHOPPING CENTER, MALL • 10,000 SF
      729 Richmond Ave, Staunton, VA 24401-4981
      View Details
    • Value Estimation by Request
      16,300 SF

      410 Commerce Rd

      REGIONAL SHOPPING CENTER, MALL • 16,300 SF
      410 Commerce Rd, Staunton, VA 24401-4432
      View Details
    • Value Estimation
      $1,370,000
      72,933 SF

      1015 Richmond Ave

      REGIONAL SHOPPING CENTER, MALL • 72,933 SF
      1015 Richmond Ave, Staunton, VA 24401-4905
      View Details
    • Value Estimation
      $1,765,000
      91,500 SF

      2040 Beverley St

      REGIONAL SHOPPING CENTER, MALL • 91,500 SF
      2040 Beverley St, Staunton, VA 24401-2916
      View Details
    • Value Estimation
      $1,325,000
      66,309 SF

      850 Statler Blvd, Unit A1

      REGIONAL SHOPPING CENTER, MALL • 66,309 SF
      850 Statler Blvd, Staunton, VA 24401-4880
      View Details

    Similar Nearby for Sale

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      Pending

      Former Bank Branch with Drive-Thru

      2,814 SF building on 1.55 acres in Staunton, VA.
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    • $1,850,000
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      Prime Staunton Retail Space

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      Historic Downtown Staunton Retail Property

      Retail property with two buildings, patio, and parking.
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    • $595,000
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      STAUNTON, VA Investment Opportunity

      Well-maintained building with new lease in high-traffic location.
      902 Richmond Ave, Staunton, VA 24401
      View Details
    • $443,000
      2,144 SF

      Commercial Building with Garage, Corner Lot

      Commercial building with garage on a corner lot with easy access.
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      STAUNTON, VA Building For Sale

      2400 SF building on 6.53 acres, great business opportunity.
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Staunton Center

      Sublease opportunity in Food Lion anchored shopping center.
      2411 West Beverly St, Staunton, VA 24401
      View Details
    • Contact for pricing
      60,000 SF

      Redevelopment Opportunity in Staunton, Virginia

      Retail, flex, and multifamily redevelopment opportunity at former Staunton Mall.
      90 Lee Jackson Hwy, Staunton, VA 24401
      View Details
    • Contact for pricing
      8,922 SF

      Retail Space in Food Lion Center

      Sublease opportunity in a well-located, high-traffic shopping center.
      2411 W Beverley St, Staunton, VA 24401
      View Details
    • $1.00 SF/Yr

      Retail Space in Richmond Avenue

      Retail space available in Richmond Avenue Shopping Center.
      1028 Richmond Ave, Staunton, VA 24401
      View Details
    • Contact for pricing
      134,660 SF

      Statler Square Retail Space Available

      Prime Staunton Shopping Center Space For Lease
      850 Statler Blvd, Staunton, VA 24401
      View Details
    • $1.00 SF/Yr

      Retail and Office Space Available

      Shopping center space for lease near future Wawa and I-81/I-64.
      1027 Richmond Ave, Staunton, VA 24401
      View Details
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    1028 Richmond Ave
    Staunton, VA 24401
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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
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