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    Renovated Retail/Office Spaces Available Title is generated by Realmo AI

    13105 Booker T Washington Hwy, Hardy, VA 24101

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    Recently renovated retail and office spaces with flexible layouts.

    Type:Retail, Office, Special Purpose
    Property size:
    600 SF
    Added:
    Feb 28, 2023
    Days on Market:
    1189
    Last Refresh:
    May 12 at 10:57 pm

    Property Features for 13105 Booker T Washington Hwy

    General Information

    Standard status
    Active
    Size
    600 SF
    Property subtype
    Retail, Office, Special Purpose

    Building Details

    Year Built
    1994

    Spaces For Lease

    at 13105 Booker T Washington Hwy Contact us

    Available Space 2 $1.17/Mo

    Size
    600 SF
    Type
    Retail, Office, Special Purpose
    Newly renovated space facing Highway 122. Space is open. New LVT flooring. All...
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    Available Space 8 $1.00/Mo

    Size
    600 SF
    Type
    Retail, Office, Special Purpose
    Space A8 in single story building. Newly renovated with LVT floor, freshly painted...
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    Available Space 11 $1.00/Mo

    Size
    600 SF
    Type
    Retail, Office, Special Purpose
    Space can be connected to A2 for a total of 1200 square feet. Space is divided into...
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    Available Space 7 $1.00/Mo

    Size
    600 SF
    Type
    Retail, Office, Special Purpose
    Space in the back corner of single story building. Private parking by space. Space...
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    We can help!

    Listing Contact
    Kathryn Wiley

    Listing agent Kathryn Wiley License #CA 600220

    Listing office Coldwell Banker Commercial NRT San Jose

    Listing date Feb 28, 2023

    Source Crexi

    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 Coldwell Banker Commercial NRT San Jose

    HighLights

    • Units renovated in January 2023 with new flooring and fresh paint.
    • Flexible space with movable interior walls, allowing for combining units for up to 1200 sq ft.
    • Available units range from 300 sq ft to 600 sq ft.
    • A12 offers potential visibility facing Highway 122.
    • A7 and A8 feature a new HVAC system.
    • Recent upgrades include a roof replaced 3 years ago and a repaved parking lot 2 years ago.

    Overview

    Westlake Commons LLC features two buildings, with available rental space currently limited to the single-story building. This building is divided into 12 spaces with movable interior walls, allowing for flexible combinations. Available units include A11, A12, A7, and A8, each measuring 600 square feet, and A5, which is 300 square feet. All units in the single-story building underwent renovations in January 2023, including new flooring and fresh paint on the ceilings and walls. The roof was replaced three years ago, and the parking lot was repaved two years ago. Units A12 and A11 can be combined to create a 1200-square-foot space, with A12 facing Highway 122. Units A7 and A8 can also be combined to form a 1200-square-foot space; A8 is located on the back corner of the building, and A7 and A8 feature a new HVAC system.
    Property Profile Location Intelligence

    Current Use by Public Records

    Anderson Desimone & Green Law Firm taiBella Salon Hair Salon Structures General Contractor Embrace Home Loans Loan Service Yarn Seasons (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Building Supply Law Firm Big Box & Wholesale Store Dental Office Real Estate Agency Spa & Massage Center Hotel & Motel Auto Repair Shop Hair Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Hardy
    County
    Franklin
    State
    Virginia
    Longitude
    -79.7165734
    Latitude
    37.1200237

    FAQs

    What type of property is this?
    Retail space - Recently renovated retail and office spaces with flexible layouts.
    Where is this retail space located?
    The property is located at 13105 Booker T Washington Hwy Hardy, VA.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Units renovated in January 2023 with new flooring and fresh paint.; Flexible space with movable interior walls, allowing for combining units for up to 1200 sq ft.; Available units range from 300 sq ft to 600 sq ft.
    (408) 828-5190 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kathryn Wiley
    Real Estate License ID: CA 600220
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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.

    More about this property
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