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    M-1 Light Industrial Multi-Building Title is generated by Realmo AI

    3217 Renan Road, Gretna, VA 24557

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    Claim this Listing
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    For Sale
    $149,000

    Commercial/Industrial - Manufacturing, Commercial, Industrial

    Lot size:
    6.71 Acres
    Added:
    Jun 4, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 7 at 11:06 am

    Property Features for 3217 Renan Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Lot size
    6.71 Acres

    Building Details

    Building materials
    Brick, Frame
    Architectural style
    Other

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    Listing Contact
    Jeff Francisco

    Listing agent Jeff Francisco

    Listing office South Boston 3510 Old Halifax Road, VA

    Listing date Jun 4, 2026

    MLS# 73177 Listing URL

    Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two‑story brick building on 6.71 acres, previously used as a formal school facility
    • Zoned M‑1 Light Industrial, offering flexible use options subject to local zoning approvals
    • Circular paved driveway provides easy vehicle entry, exit, and access
    • Main building consists of brick and frame construction
    • Includes four additional wood‑framed buildings for workshops, storage, offices, or equipment housing
    • Multiple structures and ample space for commercial, industrial, educational, storage, or office use

    Overview

    The property includes a large two-story brick building built for a prior formal school use, offering substantial interior space that can support a range of business and storage needs subject to zoning approvals. The site is served by a circular paved driveway designed for straightforward vehicle entry and exit, along with ample on-site accessibility. In addition to the main structure, there are four additional wood-framed buildings, each providing flexible space that may be used for workshops, storage, offices, or equipment-related functions.

    Located at 3217 Renan Road in Gretna, Virginia, the property sits on approximately 6.71 acres in Pittsylvania County and is currently zoned M-1 Light Industrial. The combination of multiple structures and an established site layout can be beneficial for operators who want separate areas for different activities.

    With M-1 Light Industrial zoning and a multi-building configuration, the property may fit buyers seeking an industrial-leaning campus that can accommodate commercial, industrial, educational (subject to approvals), storage, office, or other uses permitted under local regulations. Prospective purchasers are encouraged to verify intended uses with the appropriate local zoning authorities before proceeding.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ceva Awards General Contractor

    Map

    City
    Gretna
    County
    Pittsylvania
    State
    Virginia
    Longitude
    -79.2021433
    Latitude
    36.9789794

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    FAQs

    What type of property is this?
    Flex space - Two-story brick facility on 6.71 acres with M-1 zoning plus four wood-framed outbuildings.
    Where is this flex space located?
    The property is located at 3217 Renan Road Gretna, VA.
    What is the asking price?
    The asking price for this property is $149,000.
    What are key features of this property?
    This property features: Two‑story brick building on 6.71 acres, previously used as a formal school facility; Zoned M‑1 Light Industrial, offering flexible use options subject to local zoning approvals; Circular paved driveway provides easy vehicle entry, exit, and access
    (888) 536-0216
    We can help!
    Listing Contact
    Jeff Francisco
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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