Building Details

Year built 1950

Floors in Building 1

Listing Agency: Weichert Brockwell & Associate s***@chesterfieldrealtors.com Show Phone

Listed By: Kenneth Byers · License #0225273763 Show Phone

Added: Apr 23 Changed: Aug 19 Last Checked: Aug 24 at 2:06PM

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MLS# 2609380

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.

Set on 1.629 acres at 20018 Halifax Road, this warehouse property includes a 4,800-square-foot building measuring 48x100 feet. Constructed in 1950, the main structure has multiple front entrances and a covered porch extending along its length. The site also contains three large grain/corn silos, an Old Peanut House, and a former agricultural structure.

The property is in Carson, in Prince George County, adjacent to a railway and surrounded by farmland. Water is supplied by a well. The combination of warehouse space, agricultural improvements, and additional structures creates a varied commercial property with existing features across the site.

Key Highlights

• 4,800‑square‑foot warehouse measuring 48x100 feet
• 1.629‑acre property in Carson, Prince George County
• Three large grain/corn silos on site

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

$45,582

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

9.13%

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%

$911,640 $911.6K

Cap Rate 7%

$651,171 $651.2K

Cap Rate 9%

$506,467 $506.5K

Market Conditions

NOI Build-Up for 4,800 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

$56.4K $11.76/SF

− Vacancy

−$2.8K −$0.59/SF

EGI

$53.6K $11.17/SF

− OpEx

−$8.0K −$1.68/SF

NOI

$45.6K $9.50/SF

Area

Dinwiddie County, VA

Vacancy

5.00%

Lease Rate

$11.76 /SF/Yr

Expense Ratio

15.00%

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%

$911,640

Cap Rate 7%

$651,171

Cap Rate 9%

$506,467

Alternative Uses

Best Use

Warehouse

$651.2K

$569.8K – $759.7K (±1% cap)

NOI $45,582 @ 7.0% cap · market cap 9.13%

Second Best

Flex RnD

$516.7K

$452.1K – $602.8K (±1% cap)

NOI $36,167 @ 7.0% cap · market cap 7.25%

Theoretical Best

Office A

$1.11M

$970.3K – $1.29M (±1% cap)

NOI $77,627 @ 7.0% cap · market cap 15.56%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Suggested Use

Top Pick Auto Repair Shop Big Box & Wholesale Store Restaurant Law Firm Bed & Breakfast Grocery & Convenience Store

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

21

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 23830, VA

1,678

Population

601

Households

2.8

Avg Household Size

43

Median Age

38%

College-Educated

96%

High-School Grad

50.3 sq mi

ZIP Area

33

Density / Sq Mi

$114,063

Median Household Income

$67,153

Median Earnings

$629

Median Rent

$283,900

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

Questions? Ask Rey

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What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Warehouse - The property includes a full-length covered porch, multiple front entrances, and several agricultural outbuildings.

Where is this warehouse located?

The property is located at 20018 Halifax Road Carson, VA.

What is the asking price?

The asking price for this property is $499,000.

What are key features of this property?

This property features: 4,800‑square‑foot warehouse measuring 48x100 feet; 1.629‑acre property in Carson, Prince George County; Three large grain/corn silos on site