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    1301 Main St Waynesboro, VA 22980

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    1301 Main St Waynesboro, VA 22980

    View on Map
    • Commercial real estate
    • 1.08 lot acres
    Off-Market
    Property ID
    US87-2997631
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1301 Main St

    Lot size
    1.08 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 1.08-acre commercial land parcel presents a unique redevelopment opportunity in Waynesboro, Virginia. Strategically located at 1301 E Main St, this property enjoys a prime position at the revitalized eastern entrance to the city, offering easy access from the Blue Ridge Parkway, Skyline Drive, and Route 250. The slightly sloping lot features two convenient curb cut entrances, ensuring excellent accessibility for any future development. All utilities are available at the site. Existing structures on the property are to be removed, providing a clean slate for a new commercial venture. The asking price for this highly desirable parcel is $275,000. Its prominent location and significant size make it an ideal investment for developers seeking to capitalize on the growing commercial activity in this area of Waynesboro. The 22980 zip code offers a strong demographic profile and convenient access to regional transportation networks. This is a rare opportunity to acquire a substantial commercial lot in a thriving location with excellent visibility and accessibility. Don't miss this chance to build your next commercial success story.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Waynesboro
    County
    Waynesboro city
    State
    Virginia
    Longitude
    -78.8721933
    Latitude
    38.0634131

    Comparable in this City

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      Approved Development Lots in Waynesboro

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      Highway Business Land For Sale

      8.12 acres of commercial land in Waynesboro, Virginia.
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    • $525,000

      Land Near Zeus Theaters

      Commercial land with high visibility near Lew Dewitt Blvd.
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      2.404 acre pad site in Waynesboro, VA for sale.
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    • $675,000
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      Commercial Parcel in High-Traffic Area

      Prime commercial land near downtown Waynesboro with high visibility.
      2323 WEST Main St, Waynesboro, VA 22980
      View Details
    • $850,000
      1.31 Acres

      Retail Ready Development Opportunity

      Visible commercial land for development near Interstate 64.
      1860 Rosser Ave, Waynesboro, VA 22980
      View Details

    Similar Nearby for Sale

    • $850,000
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      Retail Ready Development Opportunity

      Visible commercial land for development near Interstate 64.
      1860 Rosser Ave, Waynesboro, VA 22980
      View Details
    • $675,000
      0.86 Acres

      Commercial Parcel in High-Traffic Area

      Prime commercial land near downtown Waynesboro with high visibility.
      2323 WEST Main St, Waynesboro, VA 22980
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    • Contact for pricing

      Prime Commercial Pad Sites Available

      Commercial pad sites with high visibility, up to 11 acres.
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    • $275,000

      Commercial Land Near Zeus Theaters

      Commercial land with high visibility and highway access.
      Z3 Lew Dewitt Blvd, Waynesboro, VA 22980
      View Details
    • $400,000
      3,552 SF

      Prime Commercial Investment Opportunity

      High-visibility property with mixed-zoning in downtown Waynesboro.
      903 Main St E, Waynesboro, VA 22980
      View Details
    • $179,900
      2.74 Acres

      Residential Lot in Waynesboro, VA

      2.74 acre lot approved for septic system and public water.
      Tbd Ladd Rd, Waynesboro, VA 22980
      View Details

    Similar Nearby for Lease

    • $1.00 SF/Yr

      Private Offices in Waynesboro, VA

      Private offices for rent with utilities included and conference room access.
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    • $1.00 SF/Yr
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      Versatile Industrial Facility Near I-64

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      New Commercial Flex Space Available

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    • Contact for pricing

      Office or Retail Space Available

      1,200 SF space for lease on Rosser Avenue.
      1835 Rosser Ave, Waynesboro, VA 22980
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    • $1.00 SF/Yr
      7,326 SF

      Main Street Retail or Brewery

      Multi-level retail or brewery space on Main Street for lease.
      411 Main St W, Waynesboro, VA 22980
      View Details
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    1301 Main St
    Waynesboro, VA 22980
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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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