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    16-16 Richmond Rd Warsaw, VA 22572
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    16-16 Richmond Rd Warsaw, VA 22572

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    • Land
    • 10.70 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 16-16 Richmond Rd

    Lot size
    10.70 lot acres
    Property type
    Land

    Description

    This exceptional 10.7-acre commercial development site in Warsaw, Virginia, is priced at $499,000 ($46,636/acre). Ideally situated on Richmond Road, this level parcel boasts approximately 620 feet of road frontage, providing excellent visibility and accessibility. The property's C-2 zoning permits a wide variety of retail and service uses, easily accommodating necessary parking requirements. Conveniently located at the entrance to Warsaw, this site benefits from a median cut and turnout lane from the westbound side of Route 360, and also enjoys right-of-way access via the McDonald's entrance. Utilities are readily available, with public water, sewer, and electric located both at the front and rear of the property. This prime location places the property within both Enterprise and Opportunity Zones, surrounded by established businesses including Food Lion, McDonald's, Hardee's, NAPA, Tractor Supply, Walgreens, Dollar General, and Dollar Tree. This presents a unique opportunity for developers seeking a high-visibility location with significant potential for growth and return on investment. The property's address is 16-16 Richmond Rd, Warsaw, VA 22572.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Warsaw
    County
    Richmond
    State
    Virginia
    Longitude
    -76.6997
    Latitude
    37.9472

    Comparable in this City

    • Value Estimation by Request
      1.12 Acres

      4401 Richmond Rd

      COMMERCIAL (GENERAL) • 1.12 Acres
      4401 Richmond Rd, Warsaw, VA 22572
      View Details
    • Value Estimation by Request
      1.79 Acres

      Warsaw, VA 22572

      COMMERCIAL (GENERAL) • 1.79 Acres
      Warsaw, VA 22572
      View Details
    • Value Estimation by Request
      1.00 Acre

      Warsaw, VA 22572

      COMMERCIAL (GENERAL) • 1.00 Acre
      Warsaw, VA 22572
      View Details
    • Value Estimation by Request
      10.70 Acres

      3910-4186 Richmond Rd

      Commercial real estate • 10.70 Acres
      3910-4186 Richmond Rd, Warsaw, VA 22572
      View Details
    • Value Estimation
      $2,105,000
      26,416 SF

      5355 Richmond Rd

      COMMERCIAL (GENERAL) • 26,416 SF
      5355 Richmond Rd, Warsaw, VA 22572-4379
      View Details
    • Value Estimation
      $750,000
      3,032 SF

      4649 Richmond Rd

      COMMERCIAL (GENERAL) • 3,032 SF
      4649 Richmond Rd, Warsaw, VA 22572-3137
      View Details

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    Similar Nearby for Lease

    • Contact for pricing

      Anchored Shopping Center in Warsaw

      Shopping center anchored by Food Lion and Walgreens in Warsaw.
      4665 Richmond Rd, Warsaw, VA 22572
      View Details
    • Contact for pricing
      2,800 SF

      Retail Space in Warsaw Village

      Retail space available in necessity-anchored shopping center.
      4665-4719 Richmond Rd, Warsaw, VA 22572
      View Details
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    Warsaw, VA 22572
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    16-16 Richmond Rd, Warsaw, VA, 22572
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