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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    387 Lee Jackson Hwy Staunton, VA 24401-5505

    • Automotive properties
    • 12,580 SF
    • 2.09 lot acres
    OFF-MARKET
    Value Estimations
    $515,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-3319590
    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

    • Charlie Obaugh Mitsubishi Service and Body Shop / Auto Repair Shop / Auto Body Shop
    • Charlie Obaugh Mitsubishi / Mitsubishi Dealer

    Property Details for 387 Lee Jackson Hwy

    Year built
    1988
    Lot size
    2.09 lot acres
    Property size
    12,580 SF
    Zone code
    GENERAL BUSINESS
    Property type
    Automotive properties
    APN
    065A 1 B 8
    APU
    065A1B8

    Description

    This 5,500 square foot commercial space boasts excellent visibility and frontage on Route 11 in Augusta County. Previously a car dealership, this versatile property is ideal for various uses, including equipment sales, car rentals, or a construction company (excluding auto sales/repair). The spacious layout includes a large showroom suitable for customer interaction or multiple workstations, up to eight private offices, a sizable kitchen/break area, ample storage, and a substantial workshop with a garage door. A large paved parking lot provides convenient parking for employees and customers. The property benefits from its location amongst other businesses and dealerships, ensuring high traffic counts. Zoned GB, this single-tenancy building offers immediate occupancy. The combination of high visibility, ample space, and convenient location makes this an exceptional opportunity for a variety of businesses. This property is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $385,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $645,000
      Market price range: $271k - $874k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $585,000
      Current use
      RETAIL STORES
      $765,000
      Change: +31% Conversion: Difficult
      WAREHOUSE, STORAGE
      $560,000
      Change: -4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Staunton
    County
    Augusta
    State
    Virginia
    Longitude
    -79.0713
    Latitude
    38.1153
    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
    $7,561
    $648,200
    $979,900
    $1,628,100
    -
    $648,200
    $979,900
    $1,628,100

    Comparable in this City

    • Value Estimation
      $785,000
      13,893 SF

      299 Lee Jackson Hwy

      VEHICLE SALES, RENTALS • 13,893 SF
      299 Lee Jackson Hwy, Staunton, VA 24401-5504
      View Details
    • Value Estimation
      $1,520,000
      33,661 SF

      410 Lee Jackson Hwy

      VEHICLE SALES, RENTALS • 33,661 SF
      410 Lee Jackson Hwy, Staunton, VA 24401-5506
      View Details
    • Value Estimation
      $540,000
      10,042 SF

      440 Lee Jackson Hwy

      VEHICLE SALES, RENTALS • 10,042 SF
      440 Lee Jackson Hwy, Staunton, VA 24401
      View Details
    • Value Estimation
      $2,085,000
      77,946 SF

      47 Rolling Thunder Ln

      VEHICLE SALES, RENTALS • 77,946 SF
      47 Rolling Thunder Ln, Staunton, VA 24401-5805
      View Details
    • Value Estimation
      $3,565,000
      63,290 SF

      213 Rolling Thunder Ln

      VEHICLE SALES, RENTALS • 63,290 SF
      213 Rolling Thunder Ln, Staunton, VA 24401-5684
      View Details
    • Value Estimation by Request
      3,480 SF

      141 Greenville Ave

      PARKING GARAGE, PARKING STRUCTURE • 3,480 SF
      141 Greenville Ave, Staunton, VA 24401-4313
      View Details

    Similar Nearby for Sale

    • $139,900
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      Staunton Commercial Property with Parking

      Versatile commercial space with ample parking and high traffic.
      2594 Lee Jackson Hwy, Staunton, VA 24401
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    • $329,900
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      Commercial Property with Multiple Spaces

      Commercial property featuring offices, conference room, kitchen, and storage.
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    • New
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      STAUNTON, VA Building For Sale

      2400 SF building on 6.53 acres, great business opportunity.
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    • $169,000
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      Downtown Commercial Space in Staunton

      Prime location, open layout, suitable for office, retail, or medical.
      41 N Augusta St, Staunton, VA 24401
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      7,023 SF

      Historic Downtown Staunton Retail Buildings

      Three parcels with two buildings, patio, and parking in Staunton.
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      Versatile Office Condo in Staunton

      4,040 SF flexible space suitable for retail, medical, or office.
      16 Gosnell Xing, Staunton, VA 24401
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    Similar Nearby for Lease

    • $1.00 SF/Yr

      Retail Space in Richmond Avenue

      Retail space available in Richmond Avenue Shopping Center.
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      View Details
    • $1.00 SF/Yr

      New Retail/Office Space Available

      New retail/office space near I-81 with high visibility.
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      View Details
    • Contact for pricing

      Retail Space in Staunton Center

      Sublease opportunity in Food Lion anchored shopping center.
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      View Details
    • $1.00 SF/Yr

      Versatile Office Condo in Staunton

      Adaptable 4,040 SF space suitable for retail, medical, or office.
      16 Gosnell Xing, Staunton, VA 24401
      View Details
    • $1.00 SF/Yr

      Retail Space on Commercial Corridor

      In-line retail space near shopping center and future redevelopment.
      49 Lee Jackson Hwy, Staunton, VA 24401
      View Details
    • $22 SF/Yr
      10,000 SF

      Prime Staunton Office Space

      1-Story Office, High Visibility, 2,400 SF
      729 Richmond Ave, Staunton, VA 24401
      View Details
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    Staunton, VA 24401-5505
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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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