413 N Coalter St Staunton, VA 24401

The property is being sold through a virtual auction and ends on December 4 @ 12 PM. The list price does not reflect the final sale price. The property will convey AS-IS, where is. There is a 10% buyer's premium added to the high bid. 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 30 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. 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 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