Building Details

Year Built 1962

Listing Agency: Taylor Long Properties

Listed By: Robert Marshall · License #VA 0225192463 Show Phone

Source: Crexi

Added: Sep 12, 2024 Changed: Oct 18 Last Checked: Oct 19 at 6:30AM

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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 Taylor Long Properties

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Investment Insights

Based on property information with market context.

This 5.81-acre property is approved for a proposed mini storage facility. The property is located in Sandston, VA.

Key Highlights

• 5.81 AC Land Parcel - perfect for development.
• Approved for Mini Storage - capitalize on this pre‑approved use.
• Located in Sandston, VA - benefit from a growing community.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$47,707

Cap Rate

2.89%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$954,140 $954.1K

Cap Rate 7%

$681,529 $681.5K

Cap Rate 9%

$530,078 $530.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,648 SF

Gross rent

$72.0K $9.41/SF

− Vacancy

−$3.8K −$0.50/SF

EGI

$68.2K $8.91/SF

− OpEx

−$20.4K −$2.67/SF

NOI

$47.7K $6.24/SF

Area

Henrico County, VA

Vacancy

5.30%

Lease Rate

$9.41 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$954,140

Cap Rate 7%

$681,529

Cap Rate 9%

$530,078

Alternative Uses

Best Use

Self Storage

$681.5K

$596.3K – $795.1K (±1% cap)

NOI $47,707 @ 7.0% cap · market cap 2.89%

Second Best

Industrial

$681.5K

$596.3K – $795.1K (±1% cap)

NOI $47,707 @ 7.0% cap · market cap 2.89%

Theoretical Best

Specialty Retail

$2.00M

$1.75M – $2.33M (±1% cap)

NOI $139,657 @ 7.0% cap · market cap 8.46%

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

Property Analytics

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Current Use

East End Fixture ... Hardware & Home Improvement

Suggested Use

Top Pick HVAC Service Dental Office Restaurant Garden Center Furniture & Home Goods Grocery & Convenience Store

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

49

Businesses Nearby

Explore this area Business Placement

Demographics for 23150, VA

12,556

Population

5,446

Households

2.3

Avg Household Size

43

Median Age

21%

College-Educated

91%

High-School Grad

29.5 sq mi

ZIP Area

426

Density / Sq Mi

$76,184

Median Household Income

$45,540

Median Earnings

$1,185

Median Rent

$264,600

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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Retail Space with Interstate Access

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141,588 SF

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Frequently Asked Questions

What type of property is this?

Commercial land - 5.81 AC approved for mini storage in Sandston, VA.

Where is this commercial land located?

The property is located at 3820 Old Williamsburg Rd Sandston, VA.

What is the asking price?

The asking price for this property is $1,650,000.

What are key features of this property?

This property features: 5.81 AC Land Parcel - perfect for development.; Approved for Mini Storage - capitalize on this pre‑approved use.; Located in Sandston, VA - benefit from a growing community.