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INVESTMENT OPPORTUNITY | 8.6% CAP RATE 902 Richmond Ave 3,425 SF Retail Building Staunton, VA 24401 $595,000 ($173.72/SF)
Executive Summary
8.6% CAP Investment Opportunity with a NEW 3-year NNN lease in place. Well-maintained building on a high-traffic stoplight corner of Rt. 250 by Walmart, Lowes, and other major retailers, only 1 mile from I-81 exit 222, 21,000 VPD. 1745 SF first floor storefront plus 1680 SF second floor with a dedicated bay door and entrance. Off-street parking lot with side street overflow. New roof 2023, HVAC (1st floor) 2020. I1 Zoning (Light Industrial) allows for a variety of future uses. Close proximity to Harrisonburg, Charlottesville, Roanoke. Note that Benjamin Moore was the former tenant who has moved out – the new tenant is a tobacco and convenience store with a lease beginning 10/1/25.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Building Size
3,425 SF
Building Class
B
Year Built/Renovated
1967/2019
Price
$595,000
Price Per SF
$173.72
Tenancy
Single
Building Height
2 Stories
Building FAR
0.60
Lot Size
0.13 AC
Zoning
I1
Parking
5 Spaces (1.46 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 7695 | Improvements Assessment | $355,700 |
| Land Assessment | $26,100 | Total Assessment | $381,800 |
Property Taxes
Parcel Number
7695
Land Assessment
$26,100
Improvements Assessment
$355,700
Total Assessment
$381,800
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INVESTMENT OPPORTUNITY | 8.6% CAP RATE | 902 Richmond Ave
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