702 Richmond AveStaunton, VA 24401

Property Details for 702 Richmond Ave

Construction

CONCRETE BLOCKS

Lot size

0.71 AC

Property size (Sq ft)

2,652 SF

Zone code

B2

Property type

Retail properties

Property subtype

Retail space

APN

8662

APU

8662

Description

This exceptional 2,652 square foot retail property at 702 Richmond Ave, Staunton, VA 24401, presents a unique investment opportunity. Currently configured as a single-tenant space, the property offers significant flexibility. The existing structure is available for immediate lease, providing a ready-to-occupy solution for a variety of businesses. Alternatively, the property's prime location and expansive potential (up to 4 acres available) make it ideal for redevelopment projects. Its strategic placement on a signalized corner ensures high visibility and accessibility, making it an attractive location for retail, office, or convenience store uses. The property's versatility caters to a wide range of business needs, offering a blank canvas for entrepreneurs and established businesses alike. The single-tenant occupancy provides a streamlined approach to leasing and management. This property is situated in Staunton, Virginia, offering access to a thriving local market and convenient transportation links. Don't miss this chance to secure a highly visible and adaptable commercial space in a desirable location. Inquire today to explore the possibilities.

• CAP approach

  CAP return

  Valuation

  6%

  $927,869

  6.5%

  $856,494

  7%

  $795,316

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,336,207

  Geo Method

  $1,336,207

• Alternative Use

  Use

  Valuation

  Residential

  $722,485

  Hospitality

  $661,792

  Educational

  $550,603

  Medical

  $569,540

  Retail

  $856,494

Location Insight

City

Staunton

County

Staunton City

State

Virginia

Latitude

38.1429

Longitude

-79.0567

CBSA code

44420

CBSA name

STAUNTON-WAYNESBORO, VA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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