Turnkey Industrial Space in
For Sale
Contact for pricing
710 Dawn St, Richmond, VA 23222
6,000 SF industrial space with office and warehouse components.
Property Size6,000 SF
Price / SF$250
Days on Market173
Property Features for 710 Dawn St
General Information
Standard status
Active
Size
6,000 SF
Total Parking Spaces
8
Property subtype
Industrial, Office
Zoning
M-1
Occupancy
100%
Lease Type
NNN
Building Details
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Seven Hills Holdings
Listed By:
Helen Blair · License #0000
Source:
Crexi
Added: Mar 3
Changed: Aug 14
Last Checked: Aug 22 at 1:25PM
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 Seven Hills Holdings
Investment Insights
Based on property information with market context.
Located in the Chamberlayne Industrial Center, this property offers 6,000 square feet of turnkey space, including approximately 2,000 square feet of warehouse space and 4,000 square feet of office space. The property is situated in an established industrial corridor of Richmond and features a functional blend of warehouse and office buildout, suitable for an industrial owner-occupant. The warehouse includes three loading bay doors. Zoned M-1 (Light Industrial), the property supports a range of commercial and industrial uses, offering flexibility for manufacturing, distribution, service operations, or trade-based businesses. The location provides regional connectivity and access for logistics, employees, and clients, with close proximity to the I-95 and I-64 corridor. The Chamberlayne Industrial Center benefits from demand and growth within one of Richmond’s active commercial areas. The property is currently tenant-occupied, presenting income potential while maintaining flexibility for future occupancy or redevelopment. This property is suited for developers, investors, or owner-occupants seeking a presence in the Richmond market.
Key Highlights
- 6,000 SF turnkey space with 2,000 SF warehouse and 4,000 SF office in Richmond's Chamberlayne Industrial Center.
- M‑1 (Light Industrial) zoning supports diverse commercial/industrial uses.
- Excellent location with close proximity to I‑95 and I‑64 for seamless regional connectivity.
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
$45,209
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
3.01%
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%
$904,180
$904.2K
Cap Rate 7%
$645,843
$645.8K
Cap Rate 9%
$502,322
$502.3K
Market Conditions
NOI Build-Up for 6,000 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
$75.6K $12.60/SF
− Vacancy
−$6.0K −$1.01/SF
EGI
$69.6K $11.59/SF
− OpEx
−$24.3K −$4.06/SF
NOI
$45.2K $7.53/SF
Area
Richmond, VA
Vacancy
8.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
35.00%
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%
$904,180
Cap Rate 7%
$645,843
Cap Rate 9%
$502,322
Alternative Uses
Best Use
Flex RnD
$645.8K
$565.1K – $753.5K
NOI $45,209 @ 7.0% cap · market cap 3.01%
Second Best
Industrial
$543.5K
$475.5K – $634.0K
NOI $38,042 @ 7.0% cap · market cap 2.54%
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $97,034 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
732
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 23222, VA
24,337
Population
11,762
Households
2.1
Avg Household Size
37
Median Age
32%
College-Educated
90%
High-School Grad
8.2 sq mi
ZIP Area
2,968
Density / Sq Mi
$58,105
Median Household Income
$37,137
Median Earnings
$1,181
Median Rent
$252,000
Median Home Value
Market
Vacancy Rate% for Industrial in Richmond, VA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 6,000 SF industrial space with office and warehouse components.
Where is this flex space located?
The property is located at 710 Dawn St Richmond, VA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 6,000 SF turnkey space with **2,000 SF warehouse and 4,000 SF office** in Richmond's Chamberlayne Industrial Center.; M‑1 (Light Industrial) zoning supports diverse commercial/industrial uses.; Excellent location with close proximity to I‑95 and I‑64 for seamless regional connectivity.
