Corner Warehouse
For Sale
$495,000
40 N Fifth Street, Warrenton, VA 20186
Corner-unit warehouse condominium with an open layout, drive-in loading, and an in-unit restroom.
Property Size1,742 SF
Price / SF$287.79
Days on Market68
Property Features for 40 N Fifth Street
General Information
Standard status
Active
Size
1,742 SF
Class
C
Property subtype
Office
Warehouse & Industrial
Clear Height
18 ft
Warehouse Space
1,720 SF
Drive-In Doors
1
Building Details
Building Size
1,742 SF
Year Built
1985
Listing Agency:
Cres Inc Commercial Real Estate Services
(540) 270-5963
Listed By:
Chris Bernard · License #VA #0225246993
(540) 270-5963
Source:
Cresinc
Added: Jun 24
Changed: Aug 30
Last Checked: Aug 30 at 2:41AM
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 Cres Inc Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This 1,720-square-foot warehouse condominium is configured as a flexible, open work and storage area with an 18-foot ceiling. A drive-in roll-up door supports direct loading and unloading, while the unit’s restroom adds practical functionality for daily operations. Built in 1985, the property is positioned on North Fifth Street in Warrenton, Virginia. Its corner placement provides direct street access and exposure. The layout and vertical clearance accommodate a range of warehouse-oriented operations without relying on multiple interior divisions.
Key Highlights
- 1,720 SF warehouse condominium
- 18 ft ceiling height supports vertical storage or lift installation
- Drive‑in roll‑up door for loading and unloading
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
$22,069
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
4.46%
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%
$441,380
$441.4K
Cap Rate 7%
$315,271
$315.3K
Cap Rate 9%
$245,211
$245.2K
Market Conditions
NOI Build-Up for 1,720 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
$36.1K $21.00/SF
− Vacancy
−$2.2K −$1.26/SF
EGI
$34.0K $19.74/SF
− OpEx
−$11.9K −$6.91/SF
NOI
$22.1K $12.83/SF
Area
Fauquier County, VA
Vacancy
6.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
35.00%
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%
$441,380
Cap Rate 7%
$315,271
Cap Rate 9%
$245,211
Alternative Uses
Best Use
Flex RnD
$315.3K
$275.9K – $367.8K
NOI $22,069 @ 7.0% cap · market cap 4.46%
Second Best
Warehouse
$257.7K
$225.5K – $300.6K
NOI $18,038 @ 7.0% cap · market cap 3.64%
Theoretical Best
Specialty Retail
$955.3K
$835.9K – $1.11M
NOI $66,874 @ 7.0% cap · market cap 13.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,126
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 20186, VA
15,171
Population
6,114
Households
2.5
Avg Household Size
43
Median Age
44%
College-Educated
93%
High-School Grad
58.7 sq mi
ZIP Area
258
Density / Sq Mi
$100,813
Median Household Income
$50,533
Median Earnings
$1,541
Median Rent
$485,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- CubeSmart Self Storage — 411 Holiday Ct, Warrenton, VA 20186
Frequently Asked Questions
What type of property is this?
Warehouse - Corner-unit warehouse condominium with an open layout, drive-in loading, and an in-unit restroom.
Where is this warehouse located?
The property is located at 40 N Fifth Street Warrenton, VA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 1,720 SF warehouse condominium; 18 ft ceiling height supports vertical storage or lift installation; Drive‑in roll‑up door for loading and unloading
