Building Details

Buildings 1

Listing Agency: Capital Area Business Brokerage LLC

Listed By: Michael Wilmore · License #VA 0225179785

Source: Crexi

Added: Apr 1 Changed: Aug 30 Last Checked: Aug 30 at 8:24AM

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Investment Insights

Based on property information with market context.

This 6,250-square-foot warehouse includes a mezzanine-level, one-bedroom apartment that is currently vacant. The building has been used for storing Pure Water Pure Air inventory, providing a combination of warehouse and residential space within the same structure.

The property is located at 7740 Harpine Hwy in Linville, Virginia. Its configuration may suit an owner-user seeking warehouse space with an additional apartment component, subject to applicable requirements and approvals.

Key Highlights

• 6,250‑square‑foot warehouse building
• Vacant one‑bedroom apartment located in the mezzanine area
• Previously used for Pure Water Pure Air inventory

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

$61,875

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

6.19%

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%

$1,237,500 $1.2M

Cap Rate 7%

$883,929 $883.9K

Cap Rate 9%

$687,500 $687.5K

Market Conditions

NOI Build-Up for 6,250 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

$112.5K $18.00/SF

− Vacancy

−$13.5K −$2.16/SF

EGI

$99.0K $15.84/SF

− OpEx

−$37.1K −$5.94/SF

NOI

$61.9K $9.90/SF

Area

Rockingham County, VA

Vacancy

12.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

37.50%

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%

$1,237,500

Cap Rate 7%

$883,929

Cap Rate 9%

$687,500

Alternative Uses

Best Use

Mixed Use

$883.9K

$773.4K – $1.03M (±1% cap)

NOI $61,875 @ 7.0% cap · market cap 6.19%

Second Best

Warehouse

$652.3K

$570.8K – $761.0K (±1% cap)

NOI $45,661 @ 7.0% cap · market cap 4.57%

Theoretical Best

Office A

$1.88M

$1.65M – $2.20M (±1% cap)

NOI $131,850 @ 7.0% cap · market cap 13.18%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Warehouses

Suggested Use

Top Pick HVAC Service Auto Repair Shop Catering Service

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

6

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 22834, VA

1,354

Population

468

Households

2.9

Avg Household Size

41

Median Age

42%

College-Educated

92%

High-School Grad

18.9 sq mi

ZIP Area

72

Density / Sq Mi

$89,716

Median Household Income

$40,074

Median Earnings

$1,140

Median Rent

$349,300

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

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Frequently Asked Questions

What type of property is this?

Warehouse - The facility includes warehouse space and vacant one-bedroom living quarters above the main floor.

Where is this warehouse located?

The property is located at 7740 Harpine Hwy Linville, VA.

What is the asking price?

The asking price for this property is $1,000,000.

What are key features of this property?

This property features: 6,250‑square‑foot warehouse building; Vacant one‑bedroom apartment located in the mezzanine area; Previously used for Pure Water Pure Air inventory