Highway Business Zoned Commercial
For Sale
Contact for pricing
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$142.35
Days on Market132
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: Aug 13
Last Checked: Sep 7 at 11:03AM
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
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 = 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
$157,835
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
7.89%
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%
$3,156,700
$3.2M
Cap Rate 7%
$2,254,786
$2.3M
Cap Rate 9%
$1,753,722
$1.8M
Market Conditions
NOI Build-Up for 14,050 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
$266.4K $18.96/SF
− Vacancy
−$55.9K −$3.98/SF
EGI
$210.4K $14.98/SF
− OpEx
−$52.6K −$3.74/SF
NOI
$157.8K $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%
$3,156,700
Cap Rate 7%
$2,254,786
Cap Rate 9%
$1,753,722
Alternative Uses
Best Use
Office B
$2.25M
$1.97M – $2.63M
NOI $157,835 @ 7.0% cap · market cap 7.89%
Second Best
Retail
$1.36M
$1.19M – $1.59M
NOI $95,549 @ 7.0% cap · market cap 4.78%
Theoretical Best
Warehouse
$8.25M
$7.22M – $9.62M
NOI $577,284 @ 7.0% cap · market cap 28.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 $1,999,999.
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
