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

Listed By: Chris Zaldivar · License #0225217784 Show Phone

Source: Exprealty

Added: Jul 20 Changed: Oct 21 Last Checked: Oct 21 at 12:24AM

Report an Issue

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 Hometown Realty

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

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 / Yr

$23,266

Cap Rate

7.76%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$465,320 $465.3K

Cap Rate 7%

$332,371 $332.4K

Cap Rate 9%

$258,511 $258.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,261 SF

Gross rent

$33.9K $15.00/SF

− Vacancy

−$678 −$0.30/SF

EGI

$33.2K $14.70/SF

− OpEx

−$10.0K −$4.41/SF

NOI

$23.3K $10.29/SF

Area

Hanover County, VA

Vacancy

2.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$465,320

Cap Rate 7%

$332,371

Cap Rate 9%

$258,511

Alternative Uses

Best Use

Office B

$601.5K

$526.3K – $701.7K (±1% cap)

NOI $42,104 @ 7.0% cap · market cap 14.03%

Second Best

Specialty Retail

$417.3K

$365.1K – $486.9K (±1% cap)

NOI $29,211 @ 7.0% cap · market cap 9.74%

Theoretical Best

Office A

$680.8K

$595.7K – $794.3K (±1% cap)

NOI $47,656 @ 7.0% cap · market cap 15.89%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

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

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 $300,000.

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