Building Details

Year Built 1989

Listing Agency: Porter Realty Company, Inc.

Listed By: Wilson M. Flohr · License #VA 0225201087 Show Phone

Source: Crexi

Added: Aug 13 Changed: Oct 20 Last Checked: Oct 24 at 5:34PM

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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.

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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.

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 / Yr

$100,852

Cap Rate

9.17%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,017,040 $2.0M

Cap Rate 7%

$1,440,743 $1.4M

Cap Rate 9%

$1,120,578 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,860 SF

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 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 (±1% cap)

NOI $100,852 @ 7.0% cap · market cap 9.17%

Second Best

Warehouse

$1.18M

$1.03M – $1.37M (±1% cap)

NOI $82,430 @ 7.0% cap · market cap 7.49%

Theoretical Best

Specialty Retail

$4.37M

$3.82M – $5.09M (±1% cap)

NOI $305,597 @ 7.0% cap · market cap 27.78%

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

Property Analytics

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Current Use

Keen's Towing & Hauling ... Auto Repair Shop Keen's Fleet Service ... Auto Repair Shop Quarles Fleet Fueling Gas Station Quarles Energy Services Hardware & Home Improvement Quarles Delivered Fuels Propane Supplier

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Catering Service Pet Grooming Service Hair Salon Garden 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.

Lease Details

1

Drive-in doors

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

999

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

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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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 North Commerce Avenue 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