Retail Showroom
For Sale
$729,000
310 OLD RIVERSIDE DR, Danville, VA 24541
COMMERCIAL - Danville, VA
Property Size6,262 SF
Lot Size0.50 Acres
Price / SF$116.42
Days on Market48
Property Features for 310 OLD RIVERSIDE DR
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HRC
Parking
50
Subdivision
North Section Danville
Standard status
Active
Size
6,262 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Description
100 FT NO 5A & PT NO 30 OLD RIVERSIDE DR (RIVER RD)
Tax Annual Amount
2046
Legal Description
100 FT NO 5A & PT NO 30 OLD RIVERSIDE DR (RIVER RD)
Building Details
Year built
1949
Floors in Building
1
Number of units
1
Listing Agency:
ESKEY & ASSOCIATES REALTY
(434) 797-4663
Listed By:
NIKKI DURHAM
(434) 334-6687
Added: Jun 25
Changed: Aug 4
Last Checked: Aug 11 at 7:06PM
MLS# 78944
Copyright © 2026 Dan River Region Association of REALTORS®. 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 for-sale commercial showroom property at 310 OLD RIVERSIDE DR, Danville, VA 24541 offers a versatile layout for a range of business needs. The building contains 6,262 square feet of commercial space, sitting on a 0.5-acre lot. Zoning is HRC.
The property is described as positioned for accessibility and visibility, making it a practical fit for retailers, office users, and service-based businesses. It is also being marketed as suitable for investment use.
The property is described as positioned for accessibility and visibility, making it a practical fit for retailers, office users, and service-based businesses. It is also being marketed as suitable for investment use.
Key Highlights
- 6,262 SF commercial property with a versatile layout for multiple commercial uses, including retail or office
- Year built 1949
- Located in Danville, VA, positioned in one of the city’s developing business corridors
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
$42,586
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
5.84%
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%
$851,720
$851.7K
Cap Rate 7%
$608,371
$608.4K
Cap Rate 9%
$473,178
$473.2K
Market Conditions
NOI Build-Up for 6,262 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
$69.1K $11.04/SF
− Vacancy
−$8.3K −$1.32/SF
EGI
$60.8K $9.72/SF
− OpEx
−$18.3K −$2.91/SF
NOI
$42.6K $6.80/SF
Area
Danville County, VA
Vacancy
12.00%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
30.00%
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%
$851,720
Cap Rate 7%
$608,371
Cap Rate 9%
$473,178
Alternative Uses
Best Use
Retail
$608.4K
$532.3K – $709.8K
NOI $42,586 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.68M
$3.22M – $4.29M
NOI $257,292 @ 7.0% cap · market cap 35.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
756
Businesses Nearby
340k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Apparel 24%
Shops & Services 6%
Home Improvements & Furnishings 5%
Belk
Apparel
36,563 visits/mo
0.4 miles
McDonald's
Dining
33,804 visits/mo
0.2 miles
Dunham's Sports
Apparel
28,495 visits/mo
0.3 miles
Outback Steakhouse
Dining
25,159 visits/mo
0.5 miles
Starbucks
Dining
24,278 visits/mo
0.5 miles
Demographics for 24541, VA
27,529
Population
14,506
Households
1.9
Avg Household Size
45
Median Age
22%
College-Educated
87%
High-School Grad
75.2 sq mi
ZIP Area
366
Density / Sq Mi
$49,292
Median Household Income
$35,592
Median Earnings
$818
Median Rent
$134,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- J W Squire Co., Inc. — 205 Hairston St, Danville, VA 24540
Frequently Asked Questions
What type of property is this?
Showroom - For-sale commercial showroom with a versatile layout suitable for retail, office, or service-oriented uses.
Where is this showroom located?
The property is located at 310 OLD RIVERSIDE DR Danville, VA.
What is the asking price?
The asking price for this property is $729,000.
What are key features of this property?
This property features: 6,262 SF commercial property with a versatile layout for multiple commercial uses, including retail or office; Year built 1949; Located in Danville, VA, positioned in one of the city’s developing business corridors
