Building Details

Building Size 10,000 SF

Year Built 2005

Listing Agency: Cres Inc Commercial Real Estate Services

Listed By: Bill Chipman Show Phone

Source: Cresinc

Added: Jul 19 Changed: Oct 9 Last Checked: Oct 19 at 4:45AM

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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 Cres Inc Commercial Real Estate Services

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Investment Insights

Based on property information with market context.

This commercial flex/warehouse building was constructed in 2005 and offers approximately 10,000 square feet of space. The property is described as being suited for versatile use, with the zoning listed as C.

The site is located at 115 W Shirley Ave in Warrenton, Virginia, with the public remarks citing a prime U.S. 29 Business location.

For buyers evaluating a flexible industrial or warehouse-style facility, this property presents a compact site and a single building setup with the stated zoning for adaptable use.

Key Highlights

• 10,000 SF commercial/flex building constructed in 2005
• Over 0.5‑acre site area
• Zoned C for versatile use

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$99,750

Cap Rate

7.39%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,995,000 $2.0M

Cap Rate 7%

$1,425,000 $1.4M

Cap Rate 9%

$1,108,333 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,000 SF

Gross rent

$150.0K $15.00/SF

− Vacancy

−$7.5K −$0.75/SF

EGI

$142.5K $14.25/SF

− OpEx

−$42.8K −$4.27/SF

NOI

$99.8K $9.98/SF

Area

Fauquier County, VA

Vacancy

5.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,995,000

Cap Rate 7%

$1,425,000

Cap Rate 9%

$1,108,333

Alternative Uses

Best Use

Flex RnD

$1.83M

$1.60M – $2.14M (±1% cap)

NOI $128,310 @ 7.0% cap · market cap 9.50%

Second Best

Industrial

$1.42M

$1.25M – $1.66M (±1% cap)

NOI $99,750 @ 7.0% cap · market cap 7.39%

Theoretical Best

Specialty Retail

$5.55M

$4.86M – $6.48M (±1% cap)

NOI $388,800 @ 7.0% cap · market cap 28.80%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Grocery & Convenience Store Storage Facility (Bike/Boat/Book/etc) Store Carpet & Flooring Store Catering Service Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,033

Businesses Nearby

Under-served

Demand for This Use

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 Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - A 2005-built flex/warehouse building with zoning C and over half-acre site area.

Where is this flex space located?

The property is located at 115 W Shirley Ave Warrenton, VA.

What is the asking price?

The asking price for this property is $1,350,000.

What are key features of this property?

This property features: 10,000 SF commercial/flex building constructed in 2005; Over 0.5‑acre site area; Zoned C for versatile use