Owner-User Industrial
For Sale
Contact for pricing
807 Oliver Hill Way, Richmond, VA 23219
For-sale industrial facility offering approximately 20,000 SF on 1.08 acres in a centrally located setting.
Property Size20,000 SF
Lot Size1.08 Acres
Price / SF$105
Days on Market212
Property Features for 807 Oliver Hill Way
General Information
Standard status
Active
Size
20,000 SF
Lot size
1.08 Acres
Property subtype
LAND
Listing Agency:
One South Commercial
(804) 353-0009
Listed By:
Lory Markham · License #0225227308
(804) 248-2561
Source:
Moodyscre
Added: Feb 6
Changed: Aug 10
Last Checked: Jul 22 at 2:55PM
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 One South Commercial
Investment Insights
Based on property information with market context.
This for-sale industrial property consists of an approximately 20,000 SF industrial facility set on 1.08 acres. The site is positioned for owner-users, with an existing industrial configuration suitable for manufacturing or other industrial uses.
The property is described as centrally located, offering straightforward access to the surrounding area.
The facility size and lot configuration provide a practical footprint for companies seeking an owned industrial base rather than leasing space.
The property is described as centrally located, offering straightforward access to the surrounding area.
The facility size and lot configuration provide a practical footprint for companies seeking an owned industrial base rather than leasing space.
Key Highlights
- Approximately 20,000 SF industrial facility for sale
- Set on 1.08 acres
- Centrally located industrial property
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
$126,807
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
6.04%
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%
$2,536,140
$2.5M
Cap Rate 7%
$1,811,529
$1.8M
Cap Rate 9%
$1,408,967
$1.4M
Market Conditions
NOI Build-Up for 20,000 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
$199.2K $9.96/SF
− Vacancy
−$18.0K −$0.90/SF
EGI
$181.2K $9.06/SF
− OpEx
−$54.3K −$2.72/SF
NOI
$126.8K $6.34/SF
Area
Richmond, VA
Vacancy
9.06%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
30.00%
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%
$2,536,140
Cap Rate 7%
$1,811,529
Cap Rate 9%
$1,408,967
Alternative Uses
Best Use
Industrial
$1.81M
$1.59M – $2.11M
NOI $126,807 @ 7.0% cap · market cap 6.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.62M
$4.04M – $5.39M
NOI $323,447 @ 7.0% cap · market cap 15.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,717
Businesses Nearby
Explore this area
Business Placement
Demographics for 23219, VA
5,307
Population
3,488
Households
1.5
Avg Household Size
29
Median Age
62%
College-Educated
91%
High-School Grad
1.3 sq mi
ZIP Area
4,082
Density / Sq Mi
$62,533
Median Household Income
$46,509
Median Earnings
$1,439
Median Rent
$287,500
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?
Manufacturing property - For-sale industrial facility offering approximately 20,000 SF on 1.08 acres in a centrally located setting.
Where is this manufacturing property located?
The property is located at 807 Oliver Hill Way Richmond, VA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Approximately 20,000 SF industrial facility for sale; Set on 1.08 acres; Centrally located industrial property
