Restaurant Building with Kitchen
For Sale
$499,900
1259 Piney Forest Rd, Danville, VA 24540
An open interior and existing food-preparation equipment support restaurant use.
Property Size2,520 SF
Price / SF$198.37
Days on Market669
Property Features for 1259 Piney Forest Rd
General Information
Standard status
Active
Size
2,520 SF
Total Parking Spaces
30
Property subtype
Commercial
Zoning
HRC
Taxes and HOA fees
Annual Taxes
$2,627
Building Details
Building Size
2,520 SF
Year Built
1976
Buildings
1
Stories
1
Units
1
Listing Agency:
WILKINS & CO., REALTORS, INC.
(434) 797-4007
Listed By:
Diron Clements
(434) 429-8613
Source:
Manascorealty
Added: Dec 27, 2024
Changed: Oct 27
Last Checked: Oct 27 at 3:32AM
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 WILKINS & CO., REALTORS, INC.
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Investment Insights
Based on property information with market context.
This 2,520-square-foot restaurant property was built in 1976 and has an open interior layout with kitchen equipment in place. The building previously operated as a Pizza Hut, and its zoning is HRC.
The property is at 1259 Piney Forest Rd in Danville, Virginia. It sits next to a Goodyear Tire Store and across from Nordan Shopping Center, which includes a Walmart Neighborhood Market. On-site parking is available.
The property is at 1259 Piney Forest Rd in Danville, Virginia. It sits next to a Goodyear Tire Store and across from Nordan Shopping Center, which includes a Walmart Neighborhood Market. On-site parking is available.
Key Highlights
- 2,520‑square‑foot restaurant property
- Kitchen equipment remains in place
- Open interior layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,691
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$553,820
$553.8K
Cap Rate 7%
$395,586
$395.6K
Cap Rate 9%
$307,678
$307.7K
Market Conditions
NOI Build-Up for 2,520 SF
Gross rent
$40.2K $15.96/SF
− Vacancy
−$3.3K −$1.31/SF
EGI
$36.9K $14.65/SF
− OpEx
−$9.2K −$3.66/SF
NOI
$27.7K $10.99/SF
Area
Danville County, VA
Vacancy
8.20%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$553,820
Cap Rate 7%
$395,586
Cap Rate 9%
$307,678
Alternative Uses
Best Use
Specialty Retail
$395.6K
$346.1K – $461.5K
NOI $27,691 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.48M
$1.29M – $1.73M
NOI $103,541 @ 7.0% cap · market cap 20.71%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
273
Businesses Nearby
129k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 59%
Groceries 28%
Shops & Services 9%
Electronics 3%
Walmart Neighborhood Market
Groceries
31,194 visits/mo
0.1 miles
Starbucks
Dining
16,745 visits/mo
0.5 miles
Wendy's
Dining
14,465 visits/mo
0.5 miles
Taco Bell
Dining
12,276 visits/mo
0.0 miles
Burger King
Dining
10,351 visits/mo
0.2 miles
Demographics for 24540, VA
32,094
Population
15,792
Households
2
Avg Household Size
43
Median Age
17%
College-Educated
87%
High-School Grad
75.0 sq mi
ZIP Area
428
Density / Sq Mi
$47,207
Median Household Income
$34,621
Median Earnings
$828
Median Rent
$146,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - An open interior and existing food-preparation equipment support restaurant use.
Where is this conventional restaurant located?
The property is located at 1259 Piney Forest Rd Danville, VA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 2,520‑square‑foot restaurant property; Kitchen equipment remains in place; Open interior layout
