Highway Business Zoned Commercial
For Sale
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551 Piney Forest Road, Danville, VA 24540
Two-level commercial building on a Highway Business zoned site in Danville, offering space for retail, office, or service use.
Property Size14,050 SF
Lot Size1.71 Acres
Price / SF$99.64
Days on Market177
Property Features for 551 Piney Forest Road
General Information
Standard status
Active
Size
14,050 SF
Total Parking Spaces
70
Lot size
1.71 Acres
Property subtype
Retail, Office
Zoning
HB, HRC
Building Details
Year Built
1983
Buildings
2
Stories
2
Tenancy
Single
Listing Agency:
Wilkins & Co Realtors
Listed By:
Robert Johnston · License #0226001147
Source:
Crexi
Added: Apr 30
Changed: Oct 15
Last Checked: Oct 20 at 7:19PM
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 Wilkins & Co Realtors
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Investment Insights
Based on property information with market context.
This commercial property at 551 Piney Forest Road in Danville, VA includes a two-level building with ample interior space for operations, storage, or multi-tenant potential. The site is positioned to support a variety of commercial needs, including retail, office, and service-based businesses, subject to applicable zoning and regulations.
The property is zoned Highway Business and is located along one of Danville’s main corridors. The remarks note strong traffic counts and high visibility, designed to support customer access and exposure for businesses seeking an accessible location.
The property is zoned Highway Business and is located along one of Danville’s main corridors. The remarks note strong traffic counts and high visibility, designed to support customer access and exposure for businesses seeking an accessible location.
Key Highlights
- Two‑level commercial building on a 1.71‑acre site in Danville, VA
- Highway Business zoning offers flexibility for commercial uses
- Year built: 1983
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$95,549
Cap Rate
6.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,910,980
$1.9M
Cap Rate 7%
$1,364,986
$1.4M
Cap Rate 9%
$1,061,656
$1.1M
Market Conditions
NOI Build-Up for 14,050 SF
Gross rent
$155.1K $11.04/SF
− Vacancy
−$18.6K −$1.32/SF
EGI
$136.5K $9.72/SF
− OpEx
−$40.9K −$2.91/SF
NOI
$95.5K $6.80/SF
Area
Danville County, VA
Vacancy
12.00%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,910,980
Cap Rate 7%
$1,364,986
Cap Rate 9%
$1,061,656
Alternative Uses
Best Use
Office B
$2.25M
$1.97M – $2.63M
NOI $157,835 @ 7.0% cap · market cap 11.27%
Second Best
Retail
$1.36M
$1.19M – $1.59M
NOI $95,549 @ 7.0% cap · market cap 6.82%
Theoretical Best
Warehouse
$8.25M
$7.22M – $9.62M
NOI $577,284 @ 7.0% cap · market cap 41.23%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
422
Businesses Nearby
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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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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Retail space - Two-level commercial building on a Highway Business zoned site in Danville, offering space for retail, office, or service use.
Where is this retail space located?
The property is located at 551 Piney Forest Road Danville, VA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Two‑level commercial building on a 1.71‑acre site in Danville, VA; Highway Business zoning offers flexibility for commercial uses; Year built: 1983
