Metal Shop Industrial
1000-1010 Wilroy Rd Suffolk, VA 23434
1000-1010 Wilroy Rd, Suffolk, VA, 23434
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For Sale
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Industrial compound on 5.64 acres with a 2019 5,000 SF metal shop and reinforced slab, plus multiple covered storage structures and grade-level doors.
Property Size11,160 SF
Price / SF$89.16
Days on Market74
Property Features for 1000-1010 Wilroy Rd
General Information
- Standard status
- Active
- Size
- 11,160 SF
- Property subtype
- INDUSTRIAL
Listing agency
Colliers | Norfolk
(757) 634-9902
Listed by
Ben R Anderson · License #0225017599
(757) 634-9902
Source
Moodyscre
Added: May 11 Updated: Jul 22 at 10:38PM Checked: Jul 22 at 10:38PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Colliers | Norfolk
Investment Insights
Based on property information with market context.
This industrial compound on 5.64 acres is zoned for both M2 (Heavy Industrial) and B1 (Neighborhood Commercial) use. The property is anchored by a 5,000 SF metal shop building constructed in 2019, featuring a 6" reinforced concrete slab, 3-phase power, LED lighting, and two grade-level loading doors.
The site is gated, partially fenced, and stabilized to support secure, functional outdoor storage. Additional covered space includes a 2,500 SF metal storage structure, an 1,856 SF block office/warehouse, and an 1,804 SF shed with a small office.
For connectivity, the property is positioned for regional logistics with close proximity to US Route 58 and US Route 460, with potential for rail access.
The site is gated, partially fenced, and stabilized to support secure, functional outdoor storage. Additional covered space includes a 2,500 SF metal storage structure, an 1,856 SF block office/warehouse, and an 1,804 SF shed with a small office.
For connectivity, the property is positioned for regional logistics with close proximity to US Route 58 and US Route 460, with potential for rail access.
Key Highlights
- 5.64‑acre industrial site zoned M2 (Heavy Industrial) and B1 (Neighborhood Commercial).
- 2019 5,000 SF metal shop with 6" reinforced concrete slab and 3‑phase power.
- Shop includes LED lighting and two grade‑level loading doors.
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $113.8k | $10.20 |
| − Vacancy | −$7.4k | −$0.66 |
| EGI | $106.4k | $9.54 |
| − OpEx | −$16.0k | −$1.43 |
| NOI | $90.5k | $8.11 |
11,160 SF · lease $10.20/SF/yr · vacancy 6.50% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.29M
$1.13M – $1.51M
NOI $90,468 @ 7.0% cap · market cap 9.09%
Second Best
Industrial
$1.06M
$931.3K – $1.24M
NOI $74,503 @ 7.0% cap · market cap 7.49%
Theoretical Best
Office A
$2.59M
$2.26M – $3.02M
NOI $181,017 @ 7.0% cap · market cap 18.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Manufacturing properties
Similar For Sale Nearby
Similar Off Market Nearby
- Space Savers Self Storage — 110 Virginia Ham Dr Suite 100, Suffolk, VA 23434
FAQs
What type of property is this?
Warehouse - Industrial compound on 5.64 acres with a 2019 5,000 SF metal shop and reinforced slab, plus multiple covered storage structures and grade-level doors.
Where is this warehouse located?
The property is located at 1000-1010 Wilroy Rd Suffolk, VA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 5.64‑acre industrial site zoned M2 (Heavy Industrial) and B1 (Neighborhood Commercial).; 2019 5,000 SF metal shop with 6" reinforced concrete slab and 3‑phase power.; Shop includes LED lighting and two grade‑level loading doors.
