Retail
For Sale
$729,000
310 OLD RIVERSIDE DR, Danville, VA 24541
Commercial Sale, Danville, VA
Property Size6,262 SF
Lot Size0.50 Acres
Price / SF$116.42
Days on Market94
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: Sep 4
Last Checked: Sep 26 at 8:06PM
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 retail property contains 6,262 square feet of commercial space on a 0.5-acre parcel. The layout is described as versatile and supports retail or office use, with the property also identified for service-based business applications. Built in 1949, the building carries HRC zoning.
Located at 310 Old Riverside Dr in Danville, Virginia, the property is situated within the 24541 postal area. Its commercial configuration and established building footprint provide a straightforward setting for a range of business operations supported by the stated zoning and existing improvements.
Located at 310 Old Riverside Dr in Danville, Virginia, the property is situated within the 24541 postal area. Its commercial configuration and established building footprint provide a straightforward setting for a range of business operations supported by the stated zoning and existing improvements.
Key Highlights
- 6,262 square feet of commercial space
- 0.5‑acre parcel
- HRC zoning
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
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Current Use
Location Intelligence
Trade Area within ½ mile
883
Businesses Nearby
652k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Superstores 13%
Apparel 12%
Shops & Services 9%
Sam's Club
Superstores
87,324 visits/mo
0.4 miles
Belk
Apparel
36,563 visits/mo
0.4 miles
McDonald's
Dining
33,804 visits/mo
0.1 miles
Murphy USA
Shops & Services
33,242 visits/mo
0.5 miles
Cook Out
Dining
33,137 visits/mo
0.4 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Commercial property with a versatile layout for retail or office use.
Where is this retail space 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 square feet of commercial space; 0.5‑acre parcel; HRC zoning
