Listing Agency: River City Elite Properties - Real Broker s***@rivercityeliteproperties.com Show Phone

Listed By: Phillip Hughes · License #0225218718 Show Phone

Source: Exprealty

Added: Mar 10 Changed: Sep 3 Last Checked: Sep 4 at 9:43AM

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Investment Insights

Based on property information with market context.

This versatile flex/industrial property is configured into three separate units within one building. Each unit has its own heat pump, electric meter, and private bathroom, supporting multiple-tenant occupancy or flexible use. The property also includes private parking for customers and employees, along with open land behind the building that may support future expansion or additional commercial use.

The property is located along a well-traveled corridor in the heart of Aylett, VA. The parcel includes nearly one acre total, with approximately half an acre of open land to the rear.

With three independently served units, the building can accommodate an owner-operator model where one unit is occupied while the remaining units are leased, or it can be leased as a whole to fit a larger user’s needs.

Key Highlights

• Approximately 3,000 SF flex/industrial commercial building configured into three separate units
• Each unit has its own heat pump, electric meter, and private bathroom for tenant flexibility
• Nearly 1 acre lot with plenty of private parking for customers and employees

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

$22,604

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

4.76%

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%

$452,080 $452.1K

Cap Rate 7%

$322,914 $322.9K

Cap Rate 9%

$251,156 $251.2K

Market Conditions

NOI Build-Up for 3,000 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

$37.8K $12.60/SF

− Vacancy

−$3.0K −$1.01/SF

EGI

$34.8K $11.59/SF

− OpEx

−$12.2K −$4.06/SF

NOI

$22.6K $7.53/SF

Area

King William County, 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%

$452,080

Cap Rate 7%

$322,914

Cap Rate 9%

$251,156

Alternative Uses

Best Use

Flex RnD

$322.9K

$282.6K – $376.7K (±1% cap)

NOI $22,604 @ 7.0% cap · market cap 4.76%

Second Best

Industrial

$271.7K

$237.8K – $317.0K (±1% cap)

NOI $19,021 @ 7.0% cap · market cap 4.00%

Theoretical Best

Office A

$693.1K

$606.5K – $808.6K (±1% cap)

NOI $48,517 @ 7.0% cap · market cap 10.21%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Hair Fashion’s Salon ... Hair Salon

Suggested Use

Top Pick Building Supply Auto Parts Store Big Box & Wholesale Store Grocery & Convenience Store (Bike/Boat/Book/etc) Store Pharmacy

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

Location Intelligence

Trade Area within ½ mile

75

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 23009, VA

7,737

Population

3,077

Households

2.5

Avg Household Size

40

Median Age

24%

College-Educated

96%

High-School Grad

81.2 sq mi

ZIP Area

95

Density / Sq Mi

$91,923

Median Household Income

$55,634

Median Earnings

$1,167

Median Rent

$281,700

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Flex space - Flex/industrial building configured into three separate units with private bathrooms, heat pumps, and electric meters, plus private parking.

Where is this flex space located?

The property is located at 7717 Richmond Tappahannock Hwy Aylett, VA.

What is the asking price?

The asking price for this property is $475,000.

What are key features of this property?

This property features: Approximately 3,000 SF flex/industrial commercial building configured into three separate units; Each unit has its own heat pump, electric meter, and private bathroom for tenant flexibility; Nearly 1 acre lot with plenty of private parking for customers and employees