Listing Agency: Weichert Brockwell & Associate k***@gmail.com Show Phone

Listed By: Kenneth Byers · License #0225273763 Show Phone

Source: Exprealty

Added: Apr 23 Changed: Aug 20 Last Checked: Aug 23 at 7:25AM

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Investment Insights

Based on property information with market context.

The property includes a massive 4,800-square-foot warehouse measuring 48 by 100, with multiple front entrances. A full covered porch runs the length of the building, creating an immediate transitional space from parking to the interior. The site also features three large grain/corn silos, plus an Old Peanut House and a former agricultural structure, all of which can support a range of commercial, agricultural, or creative redevelopment concepts.

Set on 1.629 acres, the property is described as a main focal point when entering Carson and is positioned for visibility. Convenient parking is available on site. The warehouse and ancillary buildings sit adjacent to a railway and are surrounded by productive farmland in Prince George County, combining rural character with direct rail adjacency.

For buyers and operators looking for a versatile, legacy-style industrial/agricultural site, the combination of a large warehouse footprint, multiple entrances, and covered exterior frontage offers flexibility for light industrial, storage, or adaptive reuse. The presence of silos and additional agricultural structures can also support specialized storage needs or mixed-use planning, subject to applicable approvals. With multiple structures and clear site character, this property is well suited for an off-market buyer or investor seeking a single, defined parcel for a new operational vision.

Key Highlights

• 1.629‑acre property in Carson, VA featuring a 4,800 SF warehouse (48x100).
• Warehouse includes multiple front entrances and a full covered porch running the length of the building.
• On‑site parking included.

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

Industrial

$434.8K

$380.4K – $507.2K (±1% cap)

NOI $30,434 @ 7.0% cap · market cap 6.10%

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

Warehouses

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

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Frequently Asked Questions

What type of property is this?

Warehouse - Standalone warehouse on 1.6 acres with covered porch, multiple entrances, parking, and on-site silos.

Where is this warehouse located?

The property is located at 20018 Halifax Rd 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: 1.629‑acre property in Carson, VA featuring a 4,800 SF warehouse (48x100).; Warehouse includes multiple front entrances and a full covered porch running the length of the building.; On‑site parking included.