Building Details

Buildings 3

Listing Agency: Dewitt Real Estate & Auctions Show Phone

Listed By: Tommy Ray DeWitt · License #0225033016 Show Phone

Source: Exprealty

Added: Oct 23 Changed: Nov 5 Last Checked: Nov 4 at 2:34PM

Report an Issue

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 Dewitt Real Estate & Auctions

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This flex property comprises three buildings totaling 7,170 square feet on 3.63 acres. The buildings have seven roll-up doors, 16–18-foot door heights and 18–20-foot ceilings. Included equipment consists of a gantry crane, paint room, truck lift, hydro-seeder, forklift and storage container. Each building has 3-phase, 220- and 440-volt service.

The nearly level site is described as suitable for additional buildings. The property is leased through May 31, 2027.

Key Highlights

• Three buildings with 7,170 square feet on 3.63 acres
• Seven roll‑up doors with 16‑18 ft. heights and 18‑20 ft. ceilings
• Gantry crane, paint room, truck lift, hydro‑seeder, forklift and storage container included

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$62,917

Cap Rate

6.32%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,258,340 $1.3M

Cap Rate 7%

$898,814 $898.8K

Cap Rate 9%

$699,078 $699.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,170 SF

Gross rent

$107.6K $15.00/SF

− Vacancy

−$10.8K −$1.50/SF

EGI

$96.8K $13.50/SF

− OpEx

−$33.9K −$4.73/SF

NOI

$62.9K $8.78/SF

Area

Campbell County, VA

Vacancy

10.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,258,340

Cap Rate 7%

$898,814

Cap Rate 9%

$699,078

Alternative Uses

Best Use

Flex RnD

$898.8K

$786.5K – $1.05M (±1% cap)

NOI $62,917 @ 7.0% cap · market cap 6.32%

Second Best

Warehouse

$744.4K

$651.4K – $868.5K (±1% cap)

NOI $52,108 @ 7.0% cap · market cap 5.24%

Theoretical Best

Office A

$2.17M

$1.90M – $2.53M (±1% cap)

NOI $151,624 @ 7.0% cap · market cap 15.24%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Storage Facility Auto Repair Shop Hair Salon Nail Salon Spa & Massage Center Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

20 ft

Clear height

Location Intelligence

Trade Area within ½ mile

12

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 24538, VA

4,729

Population

2,195

Households

2.2

Avg Household Size

44

Median Age

18%

College-Educated

89%

High-School Grad

87.0 sq mi

ZIP Area

54

Density / Sq Mi

$67,712

Median Household Income

$37,065

Median Earnings

$770

Median Rent

$166,700

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Frequently Asked Questions

What type of property is this?

Flex space - Three separate buildings offer specialized service equipment and 3-phase power, with room on the parcel for additional structures.

Where is this flex space located?

The property is located at 7374 Village Hwy Concord, VA.

What is the asking price?

The asking price for this property is $995,000.

What are key features of this property?

This property features: Three buildings with 7,170 square feet on 3.63 acres; Seven roll‑up doors with 16‑18 ft. heights and 18‑20 ft. ceilings; Gantry crane, paint room, truck lift, hydro‑seeder, forklift and storage container included