Industrial Land with Warehouse
For Sale
$2,500,000
54 Plaza Dr, Manakin Sabot, VA 23103
0.896-acre industrial site with a 14,850 SF warehouse building zoned M1 for multiple industrial uses.
Property Size14,850 SF
Lot Size0.90 Acres
Price / SF$168.35
Days on Market49
Property Features for 54 Plaza Dr
General Information
Standard status
Active
Size
14,850 SF
Lot size
0.90 Acres
Property subtype
Industrial Building + Land
Zoning
M1
Additional Details
Traffic Count
14,000 vehicles/day
Building Details
Building Size
14,850 SF
Year Built
1990
Listing Agency:
Taylor Long Properties Commercial Real Estate
(804) 539-7793
Listed By:
Ellen Long · License #0225090856
(804) 539-7793
Source:
Taylorlongproperties
Added: Jul 9
Changed: Aug 14
Last Checked: Aug 25 at 4:59AM
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 Taylor Long Properties Commercial Real Estate
Investment Insights
Based on property information with market context.
This offering consists of 0.896 acres of industrial land improved with a 14,850 SF warehouse building. The property is zoned M1, which supports multiple industrial uses.
Located in Manakin Sabot within Goochland County, the site benefits from reported traffic of 14,000 VPD on Broad Street Rd and 11,000 VPD on Ashland Rd.
With an existing warehouse improvement on a compact industrial parcel, the property provides a straightforward foundation for businesses seeking an M1-zoned industrial facility.
Located in Manakin Sabot within Goochland County, the site benefits from reported traffic of 14,000 VPD on Broad Street Rd and 11,000 VPD on Ashland Rd.
With an existing warehouse improvement on a compact industrial parcel, the property provides a straightforward foundation for businesses seeking an M1-zoned industrial facility.
Key Highlights
- 0.896‑acre industrial site with a 14,850 SF building
- 14,850 SF warehouse situated on 0.896 acres
- Zoned M1 in Manakin Sabot/Goochland County with potential for multiple industrial uses
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
$141,019
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
5.64%
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%
$2,820,380
$2.8M
Cap Rate 7%
$2,014,557
$2.0M
Cap Rate 9%
$1,566,878
$1.6M
Market Conditions
NOI Build-Up for 14,850 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
$174.6K $11.76/SF
− Vacancy
−$8.7K −$0.59/SF
EGI
$165.9K $11.17/SF
− OpEx
−$24.9K −$1.68/SF
NOI
$141.0K $9.50/SF
Area
Goochland County, VA
Vacancy
5.00%
Lease Rate
$11.76 /SF/Yr
Expense Ratio
15.00%
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%
$2,820,380
Cap Rate 7%
$2,014,557
Cap Rate 9%
$1,566,878
Alternative Uses
Best Use
Warehouse
$2.01M
$1.76M – $2.35M
NOI $141,019 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.43M
$3.00M – $4.00M
NOI $240,159 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23103, VA
5,836
Population
2,842
Households
2.1
Avg Household Size
56
Median Age
55%
College-Educated
95%
High-School Grad
38.4 sq mi
ZIP Area
152
Density / Sq Mi
$134,563
Median Household Income
$56,266
Median Earnings
$959
Median Rent
$605,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Centerville Self Storage — 12943 Plaza Dr, Richmond, VA 23233
- Broadview Mini Storage — 38 Broad St Rd, Manakin-Sabot, VA 23103
Frequently Asked Questions
What type of property is this?
Warehouse - 0.896-acre industrial site with a 14,850 SF warehouse building zoned M1 for multiple industrial uses.
Where is this warehouse located?
The property is located at 54 Plaza Dr Manakin Sabot, VA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 0.896‑acre industrial site with a 14,850 SF building; 14,850 SF warehouse situated on 0.896 acres; Zoned M1 in Manakin Sabot/Goochland County with potential for multiple industrial uses
