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    157 Charlotte Ave Waynesboro, VA 22980
    Property profile & analytics

    157 Charlotte Ave Waynesboro, VA 22980

    View on Map
    • Commercial real estate
    • 1,800 SF
    Off-Market
    Property ID
    US87-2752198
    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

    • Christ Church / Church

    Property Details for 157 Charlotte Ave

    Property size
    1,800 SF
    Property type
    Commercial real estate

    Description

    This exceptional 1,800-square-foot executive office space at 157 S Charlotte Ave, Waynesboro, VA 22980, presents a unique opportunity. The property is a single-tenant building, offering complete privacy and control. The interior is clean and freshly painted, ready for immediate occupancy. The space is ideally suited for executive offices, boasting ample room for various configurations. The upper floor encompasses 1,800 square feet, including restrooms, a sanctuary area (adaptable for various office uses), a baptismal pool (which could be repurposed), and an altar (potentially suitable for a presentation area). This upper level has an occupancy load of 145, suggesting a spacious and open layout. The lower level provides additional functional space with four classrooms, a small kitchen, and a larger meeting room, perfect for collaborative work or client meetings. Convenient on-street parking is available, supplemented by a dedicated parking lot, ensuring ample parking for staff and visitors. This versatile property offers a blend of traditional and modern features, making it an ideal location for a variety of businesses seeking a prominent presence in Waynesboro. The property's location in Waynesboro, Virginia offers easy access to local amenities and transportation routes.

    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
    Augusta
    State
    Virginia
    Longitude
    -78.883769
    Latitude
    38.0665647

    Comparable in this City

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      Turnkey Office Suite For Rent

      Office suite with private entrance, utilities included, ample parking.
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    • $1.00 SF/Yr

      Refurbished Office Condo in Waynesboro

      Move-in ready office condo with utilities included in Waynesboro.
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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
      View Details

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    Similar Nearby for Lease

    • $1.00 SF/Yr

      Renovated Office Space on Route 250

      Ground-floor office space with private entrance, multiple offices, and kitchen.
      20 Stoneridge Dr, Waynesboro, VA 22980
      View Details
    • $1.00 SF/Yr
      33,541 SF

      Turnkey Office Suite in Waynesboro

      Turnkey office suite with private entrance and ample parking.
      45 Stoneridge Dr, Waynesboro, VA 22980
      View Details
    • $1.00 SF/Yr
      6,560 SF

      Versatile Retail/Office Space Available

      Adaptable commercial space in high-traffic downtown location.
      128 Wayne Ave N, Waynesboro, VA 22980
      View Details
    • $1.00 SF/Yr
      542 SF

      Turnkey Office Suite For Rent

      Office suite with private entrance, utilities included, ample parking.
      45 Stoneridge Dr, Waynesboro, VA 22980
      View Details
    • $1.00 SF/Yr

      Refurbished Office Condo in Waynesboro

      Move-in ready office condo with utilities included in Waynesboro.
      1305 13Th St, Waynesboro, VA 22980
      View Details
    • Contact for pricing

      Office or Retail Space Available

      1,200 SF space for lease on Rosser Avenue.
      1835 Rosser Ave, Waynesboro, VA 22980
      View Details
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    157 Charlotte Ave
    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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    157 Charlotte Ave, Waynesboro, VA, 22980
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