Building Details

Year built 1950

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

Listed By: Stokes McCune · License #0225236583 Show Phone

Added: Jul 28 Changed: Sep 10 Last Checked: Sep 12 at 7:06AM

Report an Issue

MLS# 2620653

Copyright © 2026 Central Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This approximately 2,261-square-foot office building combines a durable reinforced-concrete structure with distinctive bank-era features. The original vault and safe remain in place, while an update provides a refreshed foundation for continued commercial use. An accessible approach with ramp supports entry, and the property is served by a septic tank.

The building occupies a 0.71-acre corner parcel in Beaverdam along a route leading toward Lake Anna. B-3 General Business zoning supports professional office, retail, service, storage, and warehouse uses, subject to applicable requirements. Built in 1950, the property offers a compact commercial format with a recognizable physical identity and flexible use profile.

Key Highlights

• Approximately 2,261‑square‑foot commercial building on a 0.71‑acre corner lot
• Reinforced concrete walls, floors, and ceilings
• Original bank vault and safe remain in the building

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

7.79%

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 11.23%

Second Best

Specialty Retail

$417.3K

$365.1K – $486.9K (±1% cap)

NOI $29,211 @ 7.0% cap · market cap 7.79%

Theoretical Best

Office A

$680.8K

$595.7K – $794.3K (±1% cap)

NOI $47,656 @ 7.0% cap · market cap 12.71%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Office buildings

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 office buildings 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?

Office building - Updated commercial building retains its original vault and safe.

Where is this office building located?

The property is located at 16186 Beaverdam School Road Beaverdam, VA.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: Approximately 2,261‑square‑foot commercial building on a 0.71‑acre corner lot; Reinforced concrete walls, floors, and ceilings; Original bank vault and safe remain in the building