Remodeled Multi-Office
For Sale
$749,900
520 PINEY FOREST RD, Danville, VA 24540
Commercial Sale, Danville, VA
Property Size2,616 SF
Lot Size0.51 Acres
Price / SF$286.66
Days on Market96
Property Features for 520 PINEY FOREST RD
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HB
Subdivision
North Section Danville
Standard status
Active
Size
2,616 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Description
100 FT NOS 14 & 15 PINEY FOREST RD
Tax Annual Amount
3000
Legal Description
100 FT NOS 14 & 15 PINEY FOREST RD
Amenities
break room
Building Details
Year built
1994
Listing Agency:
ESKEY & ASSOCIATES REALTY
(434) 797-4663
Listed By:
CHUCK ESKEY · License #0225034214
(434) 250-9800
Added: Jun 22
Changed: Sep 4
Last Checked: Sep 25 at 10:06AM
MLS# 78921
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 2,616-square-foot office building offers a remodeled interior with 10 offices, a break room, one full bathroom, and two half bathrooms. Constructed in 1994, the property is configured for immediate office occupancy and sits on a 0.51-acre parcel. HB zoning is identified for the site.
Located at 520 Piney Forest Rd in Danville, Virginia, the property recorded a traffic count of 27,000 vehicles per day according to VDOT data from 2024. The office layout and existing improvements provide a practical commercial setting for an owner-user or office operation.
Located at 520 Piney Forest Rd in Danville, Virginia, the property recorded a traffic count of 27,000 vehicles per day according to VDOT data from 2024. The office layout and existing improvements provide a practical commercial setting for an owner-user or office operation.
Key Highlights
- 2,616 SF office building on 0.51 acres
- Remodeled interior with 10 offices
- Break room included in the office layout
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
$29,388
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
3.92%
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%
$587,760
$587.8K
Cap Rate 7%
$419,829
$419.8K
Cap Rate 9%
$326,533
$326.5K
Market Conditions
NOI Build-Up for 2,616 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
$49.6K $18.96/SF
− Vacancy
−$10.4K −$3.98/SF
EGI
$39.2K $14.98/SF
− OpEx
−$9.8K −$3.74/SF
NOI
$29.4K $11.23/SF
Area
Danville County, VA
Vacancy
21.00%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
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%
$587,760
Cap Rate 7%
$419,829
Cap Rate 9%
$326,533
Alternative Uses
Best Use
Office B
$419.8K
$367.4K – $489.8K
NOI $29,388 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.54M
$1.34M – $1.79M
NOI $107,486 @ 7.0% cap · market cap 14.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
27,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
422
Businesses Nearby
Explore this area
Business Placement
Demographics for 24540, VA
32,094
Population
15,792
Households
2
Avg Household Size
43
Median Age
17%
College-Educated
87%
High-School Grad
75.0 sq mi
ZIP Area
428
Density / Sq Mi
$47,207
Median Household Income
$34,621
Median Earnings
$828
Median Rent
$146,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Remodeled commercial office property with multiple private offices, a break room, and flexible restroom facilities.
Where is this office building located?
The property is located at 520 PINEY FOREST RD Danville, VA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 2,616 SF office building on 0.51 acres; Remodeled interior with 10 offices; Break room included in the office layout
