Multi-tenant Flex & Industrial
For Sale
$13,000,000
6947 Gateway Ct, Manassas, VA 20109
Two-building flex and light industrial asset on 6 total acres, zoned M-2 and leased to a diversified tenant base.
Property Size55,838 SF
Lot Size4.15 Acres
Price / SF$232.82
Days on Market142
Property Features for 6947 Gateway Ct
General Information
Standard status
Active
Size
55,838 SF
Lot size
4.15 Acres
Property subtype
Industrial
Zoning
M-2
Occupancy
96%
Site & Location
Traffic Count
135,000 vehicles/day
Highway Access
Yes
Building Details
Building Size
55,838 SF
Year Built
1990
Tenancy
Multi
Listing Agency:
Weber Rector Commercial Real Estate Services
Listed By:
Chuck Rector · License #0225183359
(703) 929-9758
Source:
Weberrector
Added: Jun 16
Changed: Oct 30
Last Checked: Nov 3 at 4:17AM
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 Commercial Real Estate Services
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Investment Insights
Based on property information with market context.
This for-sale multi-tenant flex and industrial investment opportunity includes two buildings totaling 55,838 SF. The property is approximately 96% occupied and leased to a diverse tenant base. The improvements are situated on 4.15 acres, and the offering is complemented by a separate 1.87 acre parcel to the side of the property.
The site is located within Gateway Park in Prince William County. Access and visibility are available from Interstate 66, which carries 135,000 VPD, with convenient connectivity to Routes 234, 28, 29, and Prince William Parkway. The surrounding area includes a concentration of industrial, flex, warehouse, and contractor-oriented businesses, along with nearby retail and service amenities.
For buyers seeking a light industrial and flex platform in Northern Virginia, the M-2 zoning supports existing uses and provides flexibility for continued operational needs. The combination of a multi-tenant building arrangement and the additional separately held parcel can support planning for future development, expansion, or other value-creation strategies, subject to applicable approvals and zoning requirements.
The site is located within Gateway Park in Prince William County. Access and visibility are available from Interstate 66, which carries 135,000 VPD, with convenient connectivity to Routes 234, 28, 29, and Prince William Parkway. The surrounding area includes a concentration of industrial, flex, warehouse, and contractor-oriented businesses, along with nearby retail and service amenities.
For buyers seeking a light industrial and flex platform in Northern Virginia, the M-2 zoning supports existing uses and provides flexibility for continued operational needs. The combination of a multi-tenant building arrangement and the additional separately held parcel can support planning for future development, expansion, or other value-creation strategies, subject to applicable approvals and zoning requirements.
Key Highlights
- Two‑building flex/light industrial property totaling 55,838 SF on 6.02 acres (4.15 acres plus a separate 1.87‑acre parcel).
- Built in 1990 and zoned M‑2 (Light Industrial).
- Approximately 96% occupied with a diversified tenant base for stable in‑place income and limited vacancy.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$716,457
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,329,140
$14.3M
Cap Rate 7%
$10,235,100
$10.2M
Cap Rate 9%
$7,960,633
$8.0M
Market Conditions
NOI Build-Up for 55,838 SF
Gross rent
$1.17M $21.00/SF
− Vacancy
−$70.4K −$1.26/SF
EGI
$1.10M $19.74/SF
− OpEx
−$385.8K −$6.91/SF
NOI
$716.5K $12.83/SF
Area
Manassas Park County, VA
Vacancy
6.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,329,140
Cap Rate 7%
$10,235,100
Cap Rate 9%
$7,960,633
Alternative Uses
Best Use
Flex RnD
$10.24M
$8.96M – $11.94M
NOI $716,457 @ 7.0% cap · market cap 5.51%
Second Best
Warehouse
$8.37M
$7.32M – $9.76M
NOI $585,586 @ 7.0% cap · market cap 4.50%
Theoretical Best
Specialty Retail
$31.01M
$27.14M – $36.18M
NOI $2,170,981 @ 7.0% cap · market cap 16.70%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
135,000 VPD
Traffic count
96%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
260
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 20109, VA
43,849
Population
15,673
Households
2.8
Avg Household Size
32
Median Age
35%
College-Educated
83%
High-School Grad
23.8 sq mi
ZIP Area
1,842
Density / Sq Mi
$88,966
Median Household Income
$44,306
Median Earnings
$1,928
Median Rent
$411,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Two-building flex and light industrial asset on 6 total acres, zoned M-2 and leased to a diversified tenant base.
Where is this flex space located?
The property is located at 6947 Gateway Ct Manassas, VA.
What is the asking price?
The asking price for this property is $13,000,000.
What are key features of this property?
This property features: Two‑building flex/light industrial property totaling 55,838 SF on 6.02 acres (4.15 acres plus a separate 1.87‑acre parcel).; Built in 1990 and zoned M‑2 (Light Industrial).; Approximately 96% occupied with a diversified tenant base for stable in‑place income and limited vacancy.
