Warehouse with Loading
New
For Sale
$3,000,000
2807 Transport Street, Richmond, VA 23234
CommercialSale, Richmond, VA
Property Size28,647 SF
Lot Size5.01 Acres
Price / SF$104.72
Days on Market3
Property Features for 2807 Transport Street
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Level
Subdivision
50 - Richmond
Standard status
Active
APN
C009-0931-058
Lot size
5.01 Acres
Taxes and HOA fees
Tax Description
CAMPFIELD L1-7PTS8-9 BC S1 0415.21X0798.22 IRG0005.014 AC
Legal Description
CAMPFIELD L1-7PTS8-9 BC S1 0415.21X0798.22 IRG0005.014 AC
Utilities
Water source
Public
Building Details
Year built
1983
Floors in Building
1
Building materials
Brick
Listing Agency:
EXP Realty, LLC
(804) 729-5188
Listed By:
Jared Davis · License #0225210738
(804) 536-6100
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 3 at 5:06PM
MLS# 2623931
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.
This 28,647-square-foot warehouse occupies a 5.01-acre site and was built in 1983 with brick construction. The facility includes an expansive warehouse area, dedicated offices, a laboratory, boiler and pump rooms, three dock-high loading doors, and one drive-in bay. A 600-amp, 3-phase electrical service supports manufacturing equipment and other power-intensive operations. Public water serves the property, and the site provides outdoor area for parking, equipment storage, and fleet operations.
Located at 2807 Transport Street in Richmond, the property is approximately two miles from Interstate 95, with access to Bells Road, Deepwater Terminal Road, and Richmond's port facilities. The surrounding area includes established industrial users, supporting warehouse, manufacturing, distribution, storage, and related commercial operations under M-2 Industrial zoning.
Located at 2807 Transport Street in Richmond, the property is approximately two miles from Interstate 95, with access to Bells Road, Deepwater Terminal Road, and Richmond's port facilities. The surrounding area includes established industrial users, supporting warehouse, manufacturing, distribution, storage, and related commercial operations under M-2 Industrial zoning.
Key Highlights
- 28,647‑square‑foot warehouse on a 5.01‑acre site
- Three dock‑high loading doors plus one drive‑in bay
- 600‑amp, 3‑phase electrical service
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
$272,038
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
9.07%
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%
$5,440,760
$5.4M
Cap Rate 7%
$3,886,257
$3.9M
Cap Rate 9%
$3,022,644
$3.0M
Market Conditions
NOI Build-Up for 28,647 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
$336.9K $11.76/SF
− Vacancy
−$16.8K −$0.59/SF
EGI
$320.0K $11.17/SF
− OpEx
−$48.0K −$1.68/SF
NOI
$272.0K $9.50/SF
Area
Richmond, 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%
$5,440,760
Cap Rate 7%
$3,886,257
Cap Rate 9%
$3,022,644
Alternative Uses
Best Use
Warehouse
$3.89M
$3.40M – $4.53M
NOI $272,038 @ 7.0% cap · market cap 9.07%
Second Best
Industrial
$2.59M
$2.27M – $3.03M
NOI $181,632 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$6.62M
$5.79M – $7.72M
NOI $463,289 @ 7.0% cap · market cap 15.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Dock-high doors
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 23234, VA
46,610
Population
18,167
Households
2.6
Avg Household Size
35
Median Age
20%
College-Educated
80%
High-School Grad
19.1 sq mi
ZIP Area
2,440
Density / Sq Mi
$63,630
Median Household Income
$37,661
Median Earnings
$1,321
Median Rent
$237,300
Median Home Value
Market
Vacancy Rate% for Industrial in Richmond, VA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - M-2-zoned warehouse with office, laboratory, and substantial outdoor operating area.
Where is this warehouse located?
The property is located at 2807 Transport Street Richmond, VA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 28,647‑square‑foot warehouse on a 5.01‑acre site; Three dock‑high loading doors plus one drive‑in bay; 600‑amp, 3‑phase electrical service
