Renovated Gym and Warehouse
For Sale
$750,000
9102 INDUSTRY DRIVE D, Manassas Park, VA 20111
Renovated gym/warehouse in Manassas, surrounded by shops and restaurants.
Property Size2,000 SF
Price / SF$375
Days on Market124
Property Features for 9102 INDUSTRY DRIVE D
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$4,619
Building Details
Building Size
2,000 SF
Year Built
2017
Listing Agency:
Fairfax Realty of Tysons
(202) 468-1926
Listed By:
Maxwell B Sarpong · License #0225199863
(202) 468-1926
Source:
Kerishull
Added: Apr 22
Changed: Aug 23
Last Checked: Aug 23 at 5:36AM
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 Fairfax Realty of Tysons
Investment Insights
Based on property information with market context.
A renovated gym and warehouse space is available for sale in Manassas. The location offers proximity to shops and restaurants, with access to major roads. The property features expansive square footage and 20 ft high ceilings. It includes new AC and heating units, and a renovated bathroom. The space is suitable for various uses.
Key Highlights
- Prime location in the heart of Manassas, surrounded by shops and restaurants.
- Expansive square footage and versatile space suitable for various uses.
- Impressive 20 ft high ceilings.**
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
$20,974
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
2.80%
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%
$419,480
$419.5K
Cap Rate 7%
$299,629
$299.6K
Cap Rate 9%
$233,044
$233.0K
Market Conditions
NOI Build-Up for 2,000 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
$25.9K $12.96/SF
− Vacancy
−$1.2K −$0.62/SF
EGI
$24.7K $12.34/SF
− OpEx
−$3.7K −$1.85/SF
NOI
$21.0K $10.49/SF
Area
Manassas Park County, VA
Vacancy
4.80%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
15.00%
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%
$419,480
Cap Rate 7%
$299,629
Cap Rate 9%
$233,044
Alternative Uses
Best Use
Warehouse
$299.6K
$262.2K – $349.6K
NOI $20,974 @ 7.0% cap · market cap 2.80%
Second Best
Industrial
$285.0K
$249.4K – $332.5K
NOI $19,950 @ 7.0% cap · market cap 2.66%
Theoretical Best
Specialty Retail
$1.11M
$972.0K – $1.30M
NOI $77,760 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
434
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 20111, VA
38,883
Population
12,066
Households
3.2
Avg Household Size
34
Median Age
30%
College-Educated
81%
High-School Grad
16.4 sq mi
ZIP Area
2,371
Density / Sq Mi
$109,785
Median Household Income
$52,377
Median Earnings
$2,020
Median Rent
$449,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Coach Ursula T — 170 Market St, Manassas Park, VA 20111
- American Wellness and Chiropractic — 8224 Spruce St Suite 330, Manassas, VA 20111
Frequently Asked Questions
What type of property is this?
Fitness center & gym - Renovated gym/warehouse in Manassas, surrounded by shops and restaurants.
Where is this fitness center & gym located?
The property is located at 9102 INDUSTRY DRIVE D Manassas Park, VA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Prime location in the heart of Manassas, surrounded by shops and restaurants.; Expansive square footage and versatile space suitable for various uses.; Impressive 20 ft high ceilings.**
