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    Aviation Business Center at Airport Title is generated by Realmo AI

    112 Aviator Place, Winchester, VA 22602

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    For Sale
    $4,000,000

    Three completed buildings totaling about 9,660 SF on 5.85 acres, with seven approved lots for future development.

    Type:Commercial
    Property size:
    9,660 SF
    Lot size:
    5.85 Acres
    Price / SF:
    $414/SF
    Added:
    Nov 22, 2024
    Days on Market:
    560
    Last Refresh:
    Jun 5 at 2:29 am

    Property Features for 112 Aviator Place

    General Information

    Standard status
    Active
    Size
    9,660 SF
    Lot size
    5.85 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    2008

    We can help!

    Listing Contact
    H. Paige Manuel

    Listing agent H. Paige Manuel

    Listing office Oakcrest Commercial LLC.

    Listing date Nov 22, 2024

    Source Deepcreeklake

    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 Oakcrest Commercial LLC.

    HighLights

    • Aviator Business Center includes 3 completed buildings totaling approximately 9,660 SF
    • Property sits on 5.85 acres at the Winchester Regional Airport
    • Seven undeveloped site plan approved lots for future development
    • Approved lots are not subdivided into recordable lots, offering flexibility for future building sizes
    • MAI appraisal on file dated May 2025 shows value of $4 million

    Overview

    Aviator Business Center includes three completed buildings with an aggregate finished floor area of approximately 9,660 SF. The property is situated on 5.85 acres and is supported by seven undeveloped site plan approved lots. Those hypothetical lots are described as not subdivided into recordable lots, giving the next owner flexibility when designing future building sizes. A current MAI appraisal is available in the attached documents, dated May 2025, with an indicated value of $4 million.

    The center is located within the heart of Winchester Regional Airport, at 112 Aviator Place, Winchester, VA 22602. This setting is specifically aligned with aviation-adjacent business use, with the property positioned on the airport grounds for an operator seeking continuity with airport activity.

    For buyers, the combination of existing improvements and pre-approved site plan lots may be useful for accommodating current operations while retaining room for phased expansion. Tenants and users looking for an aviation-focused campus can evaluate the three in-place buildings and consider how the approved lots could be configured for additional structures without requiring recordable subdivision as described in the available materials.
    Location Intelligence

    Current Use by Public Records

    Aviation real estate

    Suggested Use

    Real Estate Agency Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Winchester
    County
    Frederick
    State
    Virginia
    Longitude
    -78.1553839
    Latitude
    39.1450965

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    FAQs

    What type of property is this?
    Aviation real estate - Three completed buildings totaling about 9,660 SF on 5.85 acres, with seven approved lots for future development.
    Where is this aviation real estate located?
    The property is located at 112 Aviator Place Winchester, VA.
    What is the asking price?
    The asking price for this property is $4,000,000.
    What are key features of this property?
    This property features: Aviator Business Center includes 3 completed buildings totaling approximately 9,660 SF; Property sits on 5.85 acres at the Winchester Regional Airport; Seven undeveloped site plan approved lots for future development
    We can help!
    Listing Contact
    H. Paige Manuel
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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