Gas Station and Convenience
For Sale
Contact for pricing
1467 Wards Rd, Altavista, VA 24517
Operating convenience retail business with real estate and business operations offered together on Wards Road.
Property Size1,988 SF
Lot Size0.58 Acres
Price / SF$226.36
Days on Market175
Property Features for 1467 Wards Rd
General Information
Standard status
Active
Size
1,988 SF
Lot size
0.58 Acres
Property subtype
Retail
Occupancy
100%
Investment Type
Owner/User
Site & Location
Traffic Count
19,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Building Details
Year Built
1970
Year Renovated
2024
Buildings
1
Stories
2
Abandoned
No
Listing Agency:
eXp realty, LLC
(540) 491-1732
Listed By:
varun Patel · License #0225272968
Source:
Crexi
Added: Mar 11
Changed: Aug 30
Last Checked: Aug 30 at 10:24PM
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 eXp realty, LLC
Investment Insights
Based on property information with market context.
This offering combines a gas station property with an operating convenience retail business. The building contains 1,988 square feet on a 0.58-acre commercial-zoned site and was built in 1970. The sale includes both the real estate and the operating business, providing a single transaction for the property and its current retail operation.
Located at 1467 Wards Rd in Altavista, the property is near US-29 and benefits from nearby daily traffic reported at 17,000–19,000 AADT. On-site parking is also provided. The site’s Wards Road position supports continued convenience-oriented retail use.
Located at 1467 Wards Rd in Altavista, the property is near US-29 and benefits from nearby daily traffic reported at 17,000–19,000 AADT. On-site parking is also provided. The site’s Wards Road position supports continued convenience-oriented retail use.
Key Highlights
- Real estate and operating convenience business offered together
- 1,988 SF building on a 0.58‑acre lot
- Built in 1970
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
$24,959
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
5.55%
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%
$499,180
$499.2K
Cap Rate 7%
$356,557
$356.6K
Cap Rate 9%
$277,322
$277.3K
Market Conditions
NOI Build-Up for 1,988 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
$35.8K $18.00/SF
− Vacancy
−$2.5K −$1.26/SF
EGI
$33.3K $16.74/SF
− OpEx
−$8.3K −$4.19/SF
NOI
$25.0K $12.56/SF
Area
Campbell County, VA
Vacancy
7.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$499,180
Cap Rate 7%
$356,557
Cap Rate 9%
$277,322
Alternative Uses
Best Use
Specialty Retail
$356.6K
$312.0K – $416.0K
NOI $24,959 @ 7.0% cap · market cap 5.55%
Second Best
Retail
$281.8K
$246.6K – $328.8K
NOI $19,726 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$600.6K
$525.5K – $700.7K
NOI $42,040 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
19,000 VPD
Traffic count
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
Explore this area
Business Placement
Demographics for 24517, VA
5,306
Population
2,376
Households
2.2
Avg Household Size
45
Median Age
23%
College-Educated
91%
High-School Grad
32.6 sq mi
ZIP Area
163
Density / Sq Mi
$51,141
Median Household Income
$36,789
Median Earnings
$855
Median Rent
$133,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - Operating convenience retail business with real estate and business operations offered together on Wards Road.
Where is this gas station located?
The property is located at 1467 Wards Rd Altavista, VA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Real estate and operating convenience business offered together; 1,988 SF building on a 0.58‑acre lot; Built in 1970
