Listing Agency: Hometown Realty m***@htrsi.com Show Phone

Listed By: Chris Zaldivar Show Phone

Source: Exprealty

Added: Jul 20 Changed: Sep 4 Last Checked: Sep 4 at 1:16PM

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Investment Insights

Based on property information with market context.

Originally built as a bank and updated for current use, this distinctive commercial property retains the original bank vault and safe, creating a one-of-a-kind interior feature. The building is constructed with reinforced concrete walls, floors, and ceilings designed for durability.

The property sits on a prominent corner lot and is positioned along a well-traveled route to Lake Anna, supporting steady daily visibility. The site totals approximately 0.71 acres, and the building is listed at approximately 2,261 square feet.

Zoned B-3 General Business, the property allows for a wide variety of commercial uses, including professional offices, retail, service businesses, storage, and warehouse space, among other options.

Key Highlights

• Corner‑lot commercial property on a 0.71‑acre lot with an approximately 2,261 SF building
• Original bank vault and safe remain on‑site
• Reinforced concrete walls, floors, and ceilings provide durable construction

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

$29,211

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

6.49%

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%

$584,220 $584.2K

Cap Rate 7%

$417,300 $417.3K

Cap Rate 9%

$324,567 $324.6K

Market Conditions

NOI Build-Up for 2,261 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

$40.7K $18.00/SF

− Vacancy

−$1.8K −$0.77/SF

EGI

$38.9K $17.23/SF

− OpEx

−$9.7K −$4.31/SF

NOI

$29.2K $12.92/SF

Area

Hanover County, VA

Vacancy

4.30%

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%

$584,220

Cap Rate 7%

$417,300

Cap Rate 9%

$324,567

Alternative Uses

Best Use

Office B

$601.5K

$526.3K – $701.7K (±1% cap)

NOI $42,104 @ 7.0% cap · market cap 9.36%

Second Best

Specialty Retail

$417.3K

$365.1K – $486.9K (±1% cap)

NOI $29,211 @ 7.0% cap · market cap 6.49%

Theoretical Best

Office A

$680.8K

$595.7K – $794.3K (±1% cap)

NOI $47,656 @ 7.0% cap · market cap 10.59%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Banks

Suggested Use

Top Pick Parking Lot & Garage Auto Parts Store Grocery & Convenience Store Pet Grooming Service Hair Salon Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

35

Businesses Nearby

Explore this area Business Placement

Demographics for 23015, VA

4,590

Population

1,779

Households

2.6

Avg Household Size

45

Median Age

46%

College-Educated

93%

High-School Grad

87.2 sq mi

ZIP Area

53

Density / Sq Mi

$109,648

Median Household Income

$53,585

Median Earnings

$430,800

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this banks located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Bank - Corner-lot commercial building with reinforced concrete construction and an existing bank vault and safe.

Where is this bank located?

The property is located at 16186 Beaverdam School Rd Beaverdam, 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: Corner‑lot commercial property on a 0.71‑acre lot with an approximately 2,261 SF building; Original bank vault and safe remain on‑site; Reinforced concrete walls, floors, and ceilings provide durable construction