Heavy Industrial Warehouse with
For Sale
$3,750,000
1218112185 LIVINGSTON ROAD, Manassas, VA 20109
Heavy industrial M-1 warehouse with office, mezzanine, gated outdoor storage, and two garage bays with dock and drive-in access.
Property Size10,045 SF
Price / SF$373.32
Days on Market61
Property Features for 1218112185 LIVINGSTON ROAD
General Information
Standard status
Active
Size
10,045 SF
Property subtype
Industrial
Zoning
M-1
Warehouse & Industrial
Clear Height
24 ft
Dock-High Doors
1
Drive-In Doors
1
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$19,762
Amenities
Central Air
3
Flat
Parking.
Lot.
Building Details
Year Built
2005
Listing Agency:
Pacific Realty
(571) 594-6545
Listed By:
Hyewook Choi
(571) 594-6545
Source:
Xome
Added: Jul 4
Changed: Aug 15
Last Checked: Sep 1 at 3:58PM
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 Pacific Realty
Investment Insights
Based on property information with market context.
12181 & 12185 Livingston Rd offers a heavy industrial M-1 zoned warehouse configuration with office space and mezzanine. The property includes approximately 8,317 square feet of warehouse space and approximately 1,728 square feet of mezzanine, with 22–24-foot clear ceiling heights. Office features include two bathrooms and a kitchenette, and the property includes private gated outdoor storage.
There are two garage bays on site, including one equipped with a loading dock and a second with a drive-in door for convenient ingress and egress.
Located in Prince William County, the property is listed for sale at 12181/12185 Livingston Road in Manassas, VA.
There are two garage bays on site, including one equipped with a loading dock and a second with a drive-in door for convenient ingress and egress.
Located in Prince William County, the property is listed for sale at 12181/12185 Livingston Road in Manassas, VA.
Key Highlights
- Heavy industrial M‑1 zoned warehouse with office space at 12181 & 12185 Livingston Rd (Prince William County).
- Approximately 8,317 SF warehouse space plus 1,728 SF mezzanine.
- 22–24‑ft clear ceiling heights in the warehouse/mezzanine area.
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
$128,887
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
3.44%
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%
$2,577,740
$2.6M
Cap Rate 7%
$1,841,243
$1.8M
Cap Rate 9%
$1,432,078
$1.4M
Market Conditions
NOI Build-Up for 10,045 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
$210.9K $21.00/SF
− Vacancy
−$12.7K −$1.26/SF
EGI
$198.3K $19.74/SF
− OpEx
−$69.4K −$6.91/SF
NOI
$128.9K $12.83/SF
Area
Manassas Park County, VA
Vacancy
6.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
35.00%
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%
$2,577,740
Cap Rate 7%
$1,841,243
Cap Rate 9%
$1,432,078
Alternative Uses
Best Use
Flex RnD
$1.84M
$1.61M – $2.15M
NOI $128,887 @ 7.0% cap · market cap 3.44%
Second Best
Warehouse
$1.50M
$1.32M – $1.76M
NOI $105,344 @ 7.0% cap · market cap 2.81%
Theoretical Best
Specialty Retail
$5.58M
$4.88M – $6.51M
NOI $390,550 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
24 ft
Clear height
1
Dock-high doors
1
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
303
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 20109, VA
43,849
Population
15,673
Households
2.8
Avg Household Size
32
Median Age
35%
College-Educated
83%
High-School Grad
23.8 sq mi
ZIP Area
1,842
Density / Sq Mi
$88,966
Median Household Income
$44,306
Median Earnings
$1,928
Median Rent
$411,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Heavy industrial M-1 warehouse with office, mezzanine, gated outdoor storage, and two garage bays with dock and drive-in access.
Where is this flex space located?
The property is located at 1218112185 LIVINGSTON ROAD Manassas, VA.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Heavy industrial M‑1 zoned warehouse with office space at 12181 & 12185 Livingston Rd (Prince William County).; Approximately 8,317 SF warehouse space plus 1,728 SF mezzanine.; 22–24‑ft clear ceiling heights in the warehouse/mezzanine area.
