Newly Constructed Steel
For Sale
$9,999,999
9999 Ewing Dr, Rustburg, VA 24588
The steel building can be built out to suit operational requirements.
Property Size45,000 SF
Price / SF$222.22
Days on Market259
Property Features for 9999 Ewing Dr
General Information
Standard status
Active
Size
45,000 SF
Listing Agency:
Coldwell Banker Commercial Read & Company
(434) 455-2285
Listed By:
Ricky Read · License #0226023041
Source:
Exprealty
Added: Dec 15, 2025
Changed: Aug 31
Last Checked: Aug 31 at 6:34PM
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 Coldwell Banker Commercial Read & Company
Investment Insights
Based on property information with market context.
This newly constructed warehouse comprises a 45,000-square-foot steel building in Seneca Industrial Park. The facility offers 30-foot clearance, truck access, and ample parking, with build-out options available to suit operational requirements.
The property is positioned just off US-29 near Rustburg, Virginia, and is a few miles from Lynchburg. Its location provides access to surrounding localities while maintaining an industrial park setting.
The property is positioned just off US-29 near Rustburg, Virginia, and is a few miles from Lynchburg. Its location provides access to surrounding localities while maintaining an industrial park setting.
Key Highlights
- 45,000‑square‑foot newly constructed steel warehouse
- 30‑foot clearance supports warehouse operations
- Located in Seneca Industrial Park
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
$327,038
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
3.27%
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%
$6,540,760
$6.5M
Cap Rate 7%
$4,671,971
$4.7M
Cap Rate 9%
$3,633,756
$3.6M
Market Conditions
NOI Build-Up for 45,000 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
$405.0K $9.00/SF
− Vacancy
−$20.3K −$0.45/SF
EGI
$384.8K $8.55/SF
− OpEx
−$57.7K −$1.28/SF
NOI
$327.0K $7.27/SF
Area
Campbell County, VA
Vacancy
5.00%
Lease Rate
$9.00 /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%
$6,540,760
Cap Rate 7%
$4,671,971
Cap Rate 9%
$3,633,756
Alternative Uses
Best Use
Warehouse
$4.67M
$4.09M – $5.45M
NOI $327,038 @ 7.0% cap · market cap 3.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.59M
$11.90M – $15.86M
NOI $951,614 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 24588, VA
9,196
Population
4,049
Households
2.3
Avg Household Size
44
Median Age
25%
College-Educated
92%
High-School Grad
72.1 sq mi
ZIP Area
128
Density / Sq Mi
$68,869
Median Household Income
$40,174
Median Earnings
$688
Median Rent
$204,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - The steel building can be built out to suit operational requirements.
Where is this warehouse located?
The property is located at 9999 Ewing Dr Rustburg, VA.
What is the asking price?
The asking price for this property is $9,999,999.
What are key features of this property?
This property features: 45,000‑square‑foot newly constructed steel warehouse; 30‑foot clearance supports warehouse operations; Located in Seneca Industrial Park
