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    1516 Shenandoah Ave N Front Royal, VA 22630
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    Property profile & analytics

    1516 Shenandoah Ave N Front Royal, VA 22630

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    • Office buildings
    • 10,680 SF
    • 1.06 lot acres
    For Lease
    $16 SF/Yr
    View Listing →
    Professional Office Suite For Lease For Lease
    $16 SF/Yr

    Professional Office Suite For Lease

    Office suite with private offices, conference room, and reception area.

    1516 SHENANDOAH N AVENUE, Front Royal, VA 22630
    View Listing
    Property ID
    US87-2010342
    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
    $1,385,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Carl Lauer, Esq / Law Firm
    • Dulaney, Lauer & Thomas / Law Firm
    • The Law Offices of David Crump / Law Firm
    • Front Royal Dental Group / Dental Office
    • Abdoun Ezzat O DDS / Dental Office

    Property Details for 1516 Shenandoah Ave N

    Year built
    2005
    Lot size
    1.06 lot acres
    Property size
    10,680 SF
    Zone code
    C1
    Property type
    Office buildings
    APN
    20A2 1 1C
    APU
    20A211C

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,250,000
      ML approach
      $1,295,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,829,000
      Market price range: $1.00M - $3.57M
      AI Estimate
      $1,569,000
      Market price range: $891k - $2.75M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,115,000
      Current use
      WAREHOUSE, STORAGE
      $2,220,000
      Change: +5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Front Royal
    County
    Warren
    State
    Virginia
    Longitude
    -78.1998
    Latitude
    38.937
    CBSA code
    47900
    CBSA name
    WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN 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
    2024
    $7,902
    $644,000
    $968,600
    $1,612,600
    -
    $644,000
    $968,600
    $1,612,600

    Comparable in this City

    • Value Estimation by Request
      864 SF

      109 6th St

      OFFICE BUILDING • 864 SF
      109 6th St, Front Royal, VA 22630-3407
      View Details
    • Value Estimation by Request
      720 SF

      46 Chester St

      OFFICE BUILDING • 720 SF
      46 Chester St, Front Royal, VA 22630-3367
      View Details
    • Value Estimation by Request
      1,704 SF

      211 Royal Ave

      OFFICE BUILDING • 1,704 SF
      211 Royal Ave, Front Royal, VA 22630-3205
      View Details
    • Value Estimation by Request
      663 SF

      30 Water St

      OFFICE BUILDING • 663 SF
      30 Water St, Front Royal, VA 22630-3069
      View Details
    • Value Estimation by Request
      2,376 SF

      111 Main St

      OFFICE BUILDING • 2,376 SF
      111 Main St, Front Royal, VA 22630-3301
      View Details
    • Value Estimation
      $990,000
      7,807 SF

      231 Chester St

      OFFICE BUILDING • 7,807 SF
      231 Chester St, Front Royal, VA 22630-4416
      View Details

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    Similar Nearby for Lease

    • $2,500 /Mo

      Office Building in Business Corridor

      1500 sq ft office building available for lease.
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    • $725 /Mo

      Recently Remodeled Executive Suites Available

      Furnished executive suites available for lease in Front Royal, VA.
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      View Details
    • $15 SF/Yr

      Front Royal Office Space Available

      Office space for lease in excellent condition with ample parking.
      824 John Marshall Hwy, Front Royal, VA 22630
      View Details
    • $33 SF/Yr
      2,699 SF

      Retail/Office/Restaurant Building For Lease

      2,699 SF retail/office/restaurant building on 1 acre for lease.
      W 14Th St, Front Royal, VA 22630
      View Details
    • $16 SF/Yr

      Professional Office Suite For Lease

      Office suite with private offices, conference room, and reception area.
      1516 Shenandoah Ave N, Front Royal, VA 22630
      View Details
    • $3,000 /Mo

      Golf Course Home for Rent

      Furnished 3BR home on golf course, ideal for business.
      134A Golf Club Cir, Front Royal, VA 22630
      View Details
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    Front Royal, VA 22630
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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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    1516 Shenandoah Ave N, Front Royal, VA, 22630
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