Building Details

Building Size 1,500 SF

Listing Agency: Weber Rector Commerical Real Estate Services, Inc.

Listed By: George Charlton · License #4001000085 Show Phone

Source: Weberrector

Added: May 8 Changed: Sep 8 Last Checked: Jul 23 at 2:10PM

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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 Weber Rector Commerical Real Estate Services, Inc.

Investment Insights

Based on property information with market context.

This remodeled historic retail building was originally built in 1750 and is listed on the historic register. The property offers approximately 1,500 square feet of retail space configured with six spacious rooms and two bathrooms. Customer-facing outdoor features include a 100-square-foot front porch and a 210-square-foot rear patio, which can support merchandise display or customer lounging.

The building is located on Mill Street in the heart of Occoquan’s historic district. Access is supported by convenient connectivity to major routes including Rt. 123, I-95, and Rt. 1.

The interior layout provides multiple flexible rooms within a historic shell, while the porch and rear patio add practical outdoor presence for a retail operation.

Key Highlights

• 1,500 SF historic retail building built in 1750 and listed on the historic register
• Remodeled interior with 6 rooms and 2 bathrooms, offering flexible retail or boutique layouts
• 100 SF front porch and 210 SF rear patio for customer use or merchandise display

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

$28,781

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

4.14%

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%

$575,620 $575.6K

Cap Rate 7%

$411,157 $411.2K

Cap Rate 9%

$319,789 $319.8K

Market Conditions

NOI Build-Up for 1,500 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

$42.3K $28.20/SF

− Vacancy

−$1.2K −$0.79/SF

EGI

$41.1K $27.41/SF

− OpEx

−$12.3K −$8.22/SF

NOI

$28.8K $19.19/SF

Area

Prince William County, VA

Vacancy

2.80%

Lease Rate

$28.20 /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%

$575,620

Cap Rate 7%

$411,157

Cap Rate 9%

$319,789

Alternative Uses

Best Use

Retail

$411.2K

$359.8K – $479.7K (±1% cap)

NOI $28,781 @ 7.0% cap · market cap 4.14%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$440.5K

$385.5K – $514.0K (±1% cap)

NOI $30,837 @ 7.0% cap · market cap 4.44%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Storefront properties

Suggested Use

Top Pick Auto Repair Shop Building Supply Big Box & Wholesale Store Auto Parts Store Pharmacy Furniture & Home Goods

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

Location Intelligence

Trade Area within ½ mile

398

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 22125, VA

917

Population

450

Households

2

Avg Household Size

45

Median Age

64%

College-Educated

99%

High-School Grad

0.2 sq mi

ZIP Area

4,585

Density / Sq Mi

$166,250

Median Household Income

$101,125

Median Earnings

$2,000

Median Rent

$485,200

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Storefront property - Remodeled historic retail building with six rooms, two bathrooms, and a rear patio for merchandise or customer use.

Where is this storefront property located?

The property is located at 406 Mill Street Occoquan, VA.

What is the asking price?

The asking price for this property is $695,000.

What are key features of this property?

This property features: 1,500 SF historic retail building built in 1750 and listed on the historic register; Remodeled interior with 6 rooms and 2 bathrooms, offering flexible retail or boutique layouts; 100 SF front porch and 210 SF rear patio for customer use or merchandise display