Mixed-Use Property with Rear
New
For Sale
$250,000
105 Pickwick Ave, Colonial Heights, VA 23834
Finished and unfinished areas are complemented by two restrooms and ample storage.
Property Size3,300 SF
Price / SF$119.05
Days on Market2
Property Features for 105 Pickwick Ave
General Information
Standard status
Active
Size
3,300 SF
Property subtype
Commercial
Amenities
2 Restrooms
Lots of Storage
Building Details
Building Size
3,300 SF
Year Built
1953
Stories
1
Listing Agency:
Swearingen Realty Co
Listed By:
Connie Lunsford
(804) 731-5200
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 3:12PM
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 Swearingen Realty Co
Investment Insights
Based on property information with market context.
Built in 1953, this mixed-use property has approximately 2,100 square feet of finished space and an additional approximately 1,200 square feet of unfinished area. The layout includes two offices at the rear, two restrooms, and storage space.
The property is located at 105 Pickwick Ave in Colonial Heights. Its Walk Score is 53 and its Bike Score is 44.
The property is located at 105 Pickwick Ave in Colonial Heights. Its Walk Score is 53 and its Bike Score is 44.
Key Highlights
- Approximately 2,100 square feet of finished space
- Approximately 1,200 square feet of additional unfinished area
- Two rear offices and two restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,920
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$458,400
$458.4K
Cap Rate 7%
$327,429
$327.4K
Cap Rate 9%
$254,667
$254.7K
Market Conditions
NOI Build-Up for 2,100 SF
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.
Gross rent
$35.8K $17.04/SF
− Vacancy
−$3.0K −$1.45/SF
EGI
$32.7K $15.59/SF
− OpEx
−$9.8K −$4.68/SF
NOI
$22.9K $10.91/SF
Area
Colonial Heights County, VA
Vacancy
8.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$458,400
Cap Rate 7%
$327,429
Cap Rate 9%
$254,667
Alternative Uses
Best Use
Mixed Use
$374.6K
$327.8K – $437.1K
NOI $26,224 @ 7.0% cap · market cap 10.49%
Second Best
Retail
$327.4K
$286.5K – $382.0K
NOI $22,920 @ 7.0% cap · market cap 9.17%
Theoretical Best
Office A
$485.2K
$424.5K – $566.0K
NOI $33,962 @ 7.0% cap · market cap 13.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
353
Businesses Nearby
109k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Dining 47%
Wawa
Shops & Services
44,237 visits/mo
0.1 miles
Cook Out
Dining
27,887 visits/mo
0.1 miles
McDonald's
Dining
23,589 visits/mo
0.4 miles
7-Eleven
Shops & Services
5,946 visits/mo
0.1 miles
Citgo
Shops & Services
3,196 visits/mo
0.3 miles
Demographics for 23834, VA
26,635
Population
11,493
Households
2.3
Avg Household Size
40
Median Age
29%
College-Educated
93%
High-School Grad
23.8 sq mi
ZIP Area
1,119
Density / Sq Mi
$82,314
Median Household Income
$45,000
Median Earnings
$1,214
Median Rent
$236,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Finished and unfinished areas are complemented by two restrooms and ample storage.
Where is this mixed-use property located?
The property is located at 105 Pickwick Ave Colonial Heights, VA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Approximately 2,100 square feet of finished space; Approximately 1,200 square feet of additional unfinished area; Two rear offices and two restrooms
