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About the Listing DAINC - 3265136
The property is being sold through a virtual auction on the listing brokerage website and ends on December 4 @ 12 PM. The list price does not reflect the final sale price. Property will convey AS-IS, where is. There is a 10% buyer's premium added to the high bid. See website for full terms, due diligence docs, and registration. https://www.dudleyresources.auction/auctions/detail/bw173205 Dudley Resources is offering a freestanding, fully leased brick office building on 0.51± acre in the City of Staunton. It suits two kinds of buyer. Investors get a 100%-occupied building with rent already coming in and built-in increases. Owner-users get a well-kept professional building they can own now and move into when the current lease ends in May 2028. The building Built in 1986, the building has 3,306± SF across two finished levels: 1,653± SF on the main floor and a 1,653± SF walk-out lower level with its own ground-level entrance. Brick veneer construction, a shingled gable roof and electric heat pumps with central air keep it simple to own. Inside are private offices, conference rooms, a kitchenette with granite counters, four half baths and finished hallways. A stone outbuilding on the lot adds storage. The two separate entrances matter. The levels can work as one office or as two suites, so a future owner can occupy one level and lease the other. Site and location The 0.51± acre lot (22,216± SF) has paved on-site parking that wraps the building, with [__] spaces for staff and clients, so no one has to park on the street. Landscaped grounds and a pylon sign at the street round it out. It sits just off Statler Boulevard, which carries about 10,000 vehicles a day, and less than a mile from the Staunton Amtrak station and downtown. More than 8,000 people live within one mile. The property is in Flood Zone X and is zoned B-1 Local Business, which allows a range of office, retail, and personal-service uses; buyers should confirm their intended use with the City of Staunton. The lease The whole building is leased to a single salon and spa tenant through May 31, 2028. Current rent: $4,635 per month ($55,620 per year) 3% increases every June 1; $4,774 per month from June 2027 One 3-year renewal option $4,500 security deposit held Gross lease: landlord pays taxes, building insurance, and most utilities For investors The building sells subject to the existing lease, so income starts at closing. Estimated net operating income is about $37,600 in year one, rising to about $39,200 after the 2027 increase. That is roughly a 9% cap rate at $418,000. Real estate taxes are low at $2,817 a year on a 2026 assessment of $309,600. A lease, rent history and expense summary are available on request. For owner-users Businesses that want to own rather than rent can buy now, let the lease pay down the carrying cost, and plan their move for mid-2028. The building already works as a professional office, with private offices, meeting rooms, and plenty of parking for clients. Medical, financial, insurance, legal, and real estate offices are natural fits, subject to zoning. Auction details Auction type: Online Bidding closes: December 4th @ 12pm Opening bid: $300,000 Buyer's premium: 10% added to the high bid Deposit: $5,000 due from the winning bidder on the credit card on file. Remaining Balance of buyer's premium due within 3 days Closing: within 30 days Conveyance: As-Is, Where Is Preview: tenant notice required, so please schedule ahead Sold subject to the existing lease and seller confirmation, unless stated otherwise
Listing Highlights for 413 N Coalter St
Status
Active
Days on Site
4
Property Type
Commercial Sale
MLS ®
VASC2000962
Year Built
1986
Total Square Footage
3,306
Lot/Acreage
0.5
County
Staunton City
School District
Staunton City Public Schools
Interior Details
- Appliances:
- Air Cond: Central A/C
- Heating: Forced Air
- Fireplaces:
- Floor: Laminate Plank
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No,In City Limits
- Garage Capacity: N/A
- Parking Spaces: 30
- Zoning: B-1
- Roof: Architectural Shingle
- Others: Excellent
- Sewer: Public Septic
- Parking Features: Parking Lot,4+ Spaces,3+ Spaces,2+ Spaces,1+ Spaces
Financial Details
- Tax Amount: $2,429
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2026
Payment Calculator
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Listing Location
Questions About..
413 N Coalter St Staunton, VA 24401
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