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 30 Last Checked: Oct 27 at 11:06AM

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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.

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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 / 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

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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

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 $300,000.

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