Diamond District Industrial
1603 Ownby Ln Richmond, VA 23220
1603 Ownby Ln, Richmond, VA, 23220
Contact for pricing
For Sale
Contact for pricing
Industrial property for sale in the Diamond District.
Property Size31,300 SF
Price / SF$213.90
Days on Market876
Property Features for 1603 Ownby Ln
General Information
- Standard status
- Active
- Size
- 31,300 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1985
Listing agency
S.L. Nusbaum
(804) 320-7600
Listed by
Reid Cardon · License #VA0225096500
Source
Crexi
Added: Feb 26, 2024 Updated: Jul 6 at 8:26AM Checked: Jul 17 at 3:03AM
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 S.L. Nusbaum
Investment Insights
Based on property information with market context.
This industrial property, encompassing 31,300 square feet, is located in the Diamond District. The property is within walking distance of Scott’s Addition.
Key Highlights
- Rare Diamond District property
- Walking distance to Scott’s Addition
- Built in 1985
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $311.7k | $9.96 |
| − Vacancy | −$28.2k | −$0.90 |
| EGI | $283.5k | $9.06 |
| − OpEx | −$85.1k | −$2.72 |
| NOI | $198.5k | $6.34 |
31,300 SF · lease $9.96/SF/yr · vacancy 9.06% · expense 30.00%
Alternative Uses
Best Use
Industrial
$2.84M
$2.48M – $3.31M
NOI $198,453 @ 7.0% cap · market cap 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.23M
$6.33M – $8.44M
NOI $506,195 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Cirrus Vodka
Bar & Pub
Main Line Brewery
Production Facility
Fuel Purification Llc
Gas Station
Tiffany’s Smokehouse
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Industrial property - Industrial property for sale in the Diamond District.
Where is this industrial property located?
The property is located at 1603 Ownby Ln Richmond, VA.
What is the asking price?
The asking price for this property is $6,695,000.
What are key features of this property?
This property features: Rare Diamond District property; Walking distance to Scott’s Addition; Built in 1985
