Flex Space With Paved
New
For Sale
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195 N Commerce Ave, Front Royal, VA 22630
Industrial-zoned flex property with a drive-in door, parking, and outdoor storage capacity.
Property Size7,860 SF
Lot Size1.99 Acres
Price / SF$139.95
Days on Market6
Property Features for 195 N Commerce Ave
General Information
Standard status
Active
Size
7,860 SF
Lot size
1.99 Acres
Property subtype
INDUSTRIAL
Zoning
I1
Site & Location
Road Access
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Additional Details
Asking Price
$1,100,000
Drive-In Doors
1
Building Details
Year Built
1989
Listing Agency:
Porter Realty Company, Inc - CORFAC International
(804) 521-1458
Listed By:
Wilson Flohr
Source:
Moodyscre
Added: Aug 11
Changed: Aug 14
Last Checked: Aug 16 at 7:25AM
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 Porter Realty Company, Inc - CORFAC International
Investment Insights
Based on property information with market context.
Built in 1989, this 7,860-square-foot flex property combines enclosed office and warehouse space with a drive-in door. The 1.993-acre site includes a broad paved yard that supports outdoor storage and vehicle maneuvering, along with ample parking.
The property is zoned I1 and has municipal water and sewer available. Its position along Commerce Avenue, identified as Route 522, provides direct roadway exposure and supports access for commercial operations requiring both interior space and a usable yard.
The property is zoned I1 and has municipal water and sewer available. Its position along Commerce Avenue, identified as Route 522, provides direct roadway exposure and supports access for commercial operations requiring both interior space and a usable yard.
Key Highlights
- 7,860 SF flex property built in 1989
- 1.993‑acre site with a large paved yard
- One drive‑in door for warehouse access
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
$100,852
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
9.17%
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%
$2,017,040
$2.0M
Cap Rate 7%
$1,440,743
$1.4M
Cap Rate 9%
$1,120,578
$1.1M
Market Conditions
NOI Build-Up for 7,860 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
$165.1K $21.00/SF
− Vacancy
−$9.9K −$1.26/SF
EGI
$155.2K $19.74/SF
− OpEx
−$54.3K −$6.91/SF
NOI
$100.9K $12.83/SF
Area
Warren County, VA
Vacancy
6.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
35.00%
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%
$2,017,040
Cap Rate 7%
$1,440,743
Cap Rate 9%
$1,120,578
Alternative Uses
Best Use
Flex RnD
$1.44M
$1.26M – $1.68M
NOI $100,852 @ 7.0% cap · market cap 9.17%
Second Best
Warehouse
$1.18M
$1.03M – $1.37M
NOI $82,430 @ 7.0% cap · market cap 7.49%
Theoretical Best
Specialty Retail
$4.37M
$3.82M – $5.09M
NOI $305,597 @ 7.0% cap · market cap 27.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
698
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 22630, VA
33,829
Population
14,465
Households
2.3
Avg Household Size
42
Median Age
26%
College-Educated
89%
High-School Grad
121.9 sq mi
ZIP Area
278
Density / Sq Mi
$84,513
Median Household Income
$44,771
Median Earnings
$1,183
Median Rent
$329,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Talk of the Mountain Crab Cakes and more — 117 E Main St, Front Royal, VA 22630
Frequently Asked Questions
What type of property is this?
Flex space - Industrial-zoned flex property with a drive-in door, parking, and outdoor storage capacity.
Where is this flex space located?
The property is located at 195 N Commerce Ave Front Royal, VA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 7,860 SF flex property built in 1989; 1.993‑acre site with a large paved yard; One drive‑in door for warehouse access
