Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1500 Commerce Rd Staunton, VA 24401-9032

    • Medical Office Space
    • 8,148 SF
    • 1.74 lot acres
    OFF-MARKET
    Value Estimations
    $725,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-3127332
    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

    • EyeOne / Eye Care Center / Contact Lenses Supplier
    • Shields Marc MD / Ophthalmologist
    • Smith David OD / Physician
    • Rachna D. Patel, M.D. / Ophthalmologist
    • Augusta Eye Associates Plc: Harrison Tim MD / Physician

    Property Details for 1500 Commerce Rd

    Year built
    2007
    Lot size
    1.74 lot acres
    Property size
    8,148 SF
    Zone code
    B2
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    10673
    APU
    10673

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $855,000
      Current use
      RESTAURANT
      $825,000
      Change: -3% Conversion: Difficult
      OFFICE BUILDING
      $715,000
      Change: -16% Conversion: Easy
      COMMERCIAL (GENERAL)
      $685,000
      Change: -20% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Staunton
    County
    Staunton City
    State
    Virginia
    Longitude
    -79.026
    Latitude
    38.1878
    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
    $10,964
    $227,900
    $1,004,000
    $1,231,900
    -
    $227,900
    $1,004,000
    $1,231,900

    Comparable in this City

    • Value Estimation
      $530,000
      7,791 SF

      19 Grn St

      MEDICAL BUILDING • 7,791 SF
      19 Grn St, Staunton, VA 24401
      View Details
    • Value Estimation
      $565,000
      8,101 SF

      102 Lacy B King Way

      MEDICAL BUILDING • 8,101 SF
      102 Lacy B King Way, Staunton, VA 24401-4594
      View Details
    • Value Estimation by Request
      1,120 SF

      907 Augusta St

      MEDICAL BUILDING • 1,120 SF
      907 Augusta St, Staunton, VA 24401-3216
      View Details
    • Value Estimation by Request
      2,688 SF

      2009 Augusta St

      MEDICAL BUILDING • 2,688 SF
      2009 Augusta St, Staunton, VA 24401-2436
      View Details
    • Value Estimation by Request
      1,708 SF

      504 Coalter St

      MEDICAL BUILDING • 1,708 SF
      504 Coalter St, Staunton, VA 24401-3401
      View Details
    • Value Estimation
      $835,000
      11,037 SF

      103 Community Way

      MEDICAL BUILDING • 11,037 SF
      103 Community Way, Staunton, VA 24401-4970
      View Details

    Similar Nearby for Sale

    • $365,000
      1,625 SF

      Fishersville Medical Office Condos

      New Medical Office Condos - Prime Location
      0 Tba Myers Cor Dr, Staunton, VA 24401
      View Details
    • $249,000
      1,233 SF

      Professional Office Space Available

      High-visibility office space with flexible floor plans and parking.
      1110 Churchville Ave, Staunton, VA 24401
      View Details
    • $659,300
      3,358 SF

      Staunton Office Condo Units Available

      Professional office condo units in a convenient Staunton location.
      100 Red Oak Dr, Staunton, VA 24401
      View Details
    • $174,900
      1,344 SF

      Staunton Office in Mactanly Center

      Spacious office in excellent Staunton location with great visibility.
      100 Mactanly Pl, Staunton, VA 24401
      View Details
    • $249,000
      1,233 SF

      STAUNTON, VA Office Building

      Office space in high-visibility location, suitable for various business needs.
      1110 Churchville Ave, Staunton, VA 24401
      View Details
    • $945,000
      7,700 SF

      Two Office Buildings on Route 250

      Two well-maintained office buildings totaling 7,700 SF on Route 250.
      24 Idlewood Blvd, Staunton, VA 24401
      View Details

    Similar Nearby for Lease

    • $1.00 SF/Yr

      Move-in Ready Medical Office Condo

      Former dental/medical office space with existing infrastructure.
      1557 Commerce Ave, Staunton, VA 24401
      View Details
    • $1.00 SF/Yr

      Move-in Ready Medical Office Condo

      Former dental/medical office space with existing infrastructure in Staunton, VA.
      1557 Commerce Ave, Staunton, VA 24401
      View Details
    • $1.00 SF/Yr

      New Retail/Office Space Available

      New retail/office space near I-81 with high visibility.
      Tbd White Hl Rd, Staunton, VA 24401
      View Details
    • $11 SF/Yr
      3,385 SF

      Staunton Office Space For Lease

      Affordable, move-in ready office suites in prime location.
      1600 Coalter St, Staunton, VA 24401
      View Details
    • $1.00 SF/Yr

      Staunton Office Space For Rent

      Affordable office space in Staunton's Greenbrier Office Park.
      1600 N Coalter St, Staunton, VA 24401
      View Details
    • $1.00 SF/Yr

      Downtown Staunton Office/Retail Space

      Corner office/retail space with high ceilings and basement storage.
      21 N Central Ave, Staunton, VA 24401
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1500 Commerce Rd
    Staunton, VA 24401-9032
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!