Building Details

Year Built 2024

Buildings 1

Listing Agency: Wright Realty, Inc. Show Phone

Listed By: Edward B Wright III · License #0225039100 Show Phone

Source: Thetristaterealestategroup

Added: Oct 30 Last Checked: Oct 30 at 3:37PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Wright Realty, Inc.

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Investment Insights

Based on property information with market context.

Completed in 2024, this 10,223-square-foot flex building is arranged in three divisible bays. Suite C contains 3,979 square feet. The spaces have finished vanilla-shell interiors, glass storefronts, heating and cooling, and separate electrical meters. Each bay includes two bathrooms and 7 x 6 front and rear doors.

The property fronts US 28, where daily traffic is reported at 14,000 vehicles. C-2 zoning supports a range of listed uses, including retail, contractor operations with fleet parking, medical and general office, farm equipment sales, and auto or truck sales.

Key Highlights

• Three divisible bays in a 10,223 SF flex building
• Suite C offers 3,979 SF
• Built in 2024 with glass storefronts and finished vanilla‑shell interiors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$101,974

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,039,480 $2.0M

Cap Rate 7%

$1,456,771 $1.5M

Cap Rate 9%

$1,133,044 $1.1M

What to ask about pricing

Market Conditions

NOI Build-Up for 10,223 SF

Gross rent

$153.3K $15.00/SF

− Vacancy

−$7.7K −$0.75/SF

EGI

$145.7K $14.25/SF

− OpEx

−$43.7K −$4.27/SF

NOI

$102.0K $9.98/SF

Area

Fauquier County, VA

Vacancy

5.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,039,480

Cap Rate 7%

$1,456,771

Cap Rate 9%

$1,133,044

Alternative Uses

Best Use

Flex RnD

$1.87M

$1.64M – $2.19M (±1% cap)

NOI $131,171 @ 7.0% cap · market cap 2,472.59%

Second Best

Industrial

$1.46M

$1.27M – $1.70M (±1% cap)

NOI $101,974 @ 7.0% cap · market cap 1,922.22%

Theoretical Best

Specialty Retail

$5.68M

$4.97M – $6.62M (±1% cap)

NOI $397,470 @ 7.0% cap · market cap 7,492.37%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Building Supply HVAC Service Electrical Service Grocery & Convenience Store Kitchen & Bath Showroom Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

62

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 20119, VA

4,263

Population

1,476

Households

2.9

Avg Household Size

42

Median Age

39%

College-Educated

95%

High-School Grad

64.9 sq mi

ZIP Area

66

Density / Sq Mi

$137,625

Median Household Income

$62,658

Median Earnings

$1,808

Median Rent

$597,400

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

Frequently Asked Questions

What type of property is this?

Flex space - New construction offers finished vanilla-shell space with HVAC and separately metered electricity.

Where is this flex space located?

The property is located at 3400 Catlett Road # C Catlett, VA.

What are key features of this property?

This property features: Three divisible bays in a 10,223 SF flex building; Suite C offers 3,979 SF; Built in 2024 with glass storefronts and finished vanilla‑shell interiors