Renovated 1.5-Story Office/Retail
For Sale
$875,000
Pending
109 Broadview Ave, Warrenton, VA 20186
Move-in ready 1.5-story building on two contiguous lots with dual frontage and a Sullivan St parking expansion lot.
Property Size2,594 SF
Lot Size0.46 Acres
Days on Market88
Property Features for 109 Broadview Ave
General Information
Standard status
Pending
Size
2,594 SF
Lot size
0.46 Acres
Property subtype
Commercial
Zoning
C
Site & Location
Traffic Count
33,000 vehicles/day
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,631
Amenities
Open
Additional Lot(s)
Backs - Open Common Area
Backs to Trees
Cleared
Downtown
Front Yard
Level
Rear Yard
Building Details
Year Built
1949
Listing Agency:
COMPASS
(703) 266-7277
Listed By:
ALEX K LOGSDON · License #0226026083
(703) 625-3099
Source:
Corcoran
Added: Jun 9
Changed: Aug 31
Last Checked: Aug 28 at 10:28AM
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 COMPASS
Investment Insights
Based on property information with market context.
Rare two-parcel commercial assemblage anchored by a renovated 1.5-story building at 109 Broadview Ave. The main parcel totals 12,594 SF and features hardwood floors and an updated kitchen with stainless-steel appliances. Improvements include new HVAC, a new water heater, insulated windows, and a detached garage, supporting flexible occupancy options including office, medical, retail, restaurant, or mixed-use uses.
The property includes a companion 9,892 SF lot on Sullivan St, providing turnkey parking expansion or potential for future development. The site has dual frontage on Broadview Ave and Sullivan St, with two-way accessibility from Broadview Ave, which carries over 33,000 VPD. The assemblage is zoned C (Commercial) per Sec. 3-4.10.2, with broad by-right uses up to 50,000 SF per business. Public water, sewer, gas, and electric are in place.
The property includes a companion 9,892 SF lot on Sullivan St, providing turnkey parking expansion or potential for future development. The site has dual frontage on Broadview Ave and Sullivan St, with two-way accessibility from Broadview Ave, which carries over 33,000 VPD. The assemblage is zoned C (Commercial) per Sec. 3-4.10.2, with broad by-right uses up to 50,000 SF per business. Public water, sewer, gas, and electric are in place.
Key Highlights
- Two contiguous commercial lots totaling ±0.46 acres with dual frontage on Broadview Ave and Sullivan St
- Renovated 1.5‑story building offers ±2,594 SF with hardwood floors and an updated kitchen with SS appliances
- New HVAC, new water heater, and insulated windows; detached garage included
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
$34,732
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
3.97%
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%
$694,640
$694.6K
Cap Rate 7%
$496,171
$496.2K
Cap Rate 9%
$385,911
$385.9K
Market Conditions
NOI Build-Up for 2,594 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
$54.2K $20.88/SF
− Vacancy
−$7.9K −$3.03/SF
EGI
$46.3K $17.85/SF
− OpEx
−$11.6K −$4.46/SF
NOI
$34.7K $13.39/SF
Area
Fauquier County, VA
Vacancy
14.50%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
25.00%
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%
$694,640
Cap Rate 7%
$496,171
Cap Rate 9%
$385,911
Alternative Uses
Best Use
Office B
$496.2K
$434.2K – $578.9K
NOI $34,732 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.44M
$1.26M – $1.68M
NOI $100,855 @ 7.0% cap · market cap 11.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
33,000 VPD
Traffic count
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,422
Businesses Nearby
Explore this area
Business Placement
Demographics for 20186, VA
15,171
Population
6,114
Households
2.5
Avg Household Size
43
Median Age
44%
College-Educated
93%
High-School Grad
58.7 sq mi
ZIP Area
258
Density / Sq Mi
$100,813
Median Household Income
$50,533
Median Earnings
$1,541
Median Rent
$485,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Move-in ready 1.5-story building on two contiguous lots with dual frontage and a Sullivan St parking expansion lot.
Where is this office building located?
The property is located at 109 Broadview Ave Warrenton, VA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Two contiguous commercial lots totaling ±0.46 acres with dual frontage on Broadview Ave and Sullivan St; Renovated 1.5‑story building offers ±2,594 SF with hardwood floors and an updated kitchen with SS appliances; New HVAC, new water heater, and insulated windows; detached garage included
