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    8279 Richmond Tappahannock Hwy Aylett, VA 23009

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    8279 Richmond Tappahannock Hwy Aylett, VA 23009

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    • Warehouses
    • 1 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • MR. FIX IT AUTO REPAIR, LLC / Auto Repair Shop
    • Endurance Auto Detailing / Car Wash

    Property Details for 8279 Richmond Tappahannock Hwy

    Year built
    1940
    Property size
    1 SF
    Property type
    Warehouses
    Property subtype
    Office properties & Spaces

    Description

    This unique commercial property, located at 8279 Richmond Tappahannock Highway in Aylett, Virginia (zip code 23009), offers a blend of office and warehouse space totaling 1 square foot. Built in 1940, the building has undergone significant updates and upgrades in the past eight years, including new stone siding, windows, framing, and roofing. Electrical upgrades have also been completed, and a compressor room with compressor and lines running into the garage bays has been added. The property features a two-bay garage with overhead doors providing direct entry into the storefront area. Additional space includes a separate office, storage area, and restroom. Previously used as a car sales, garage, and service center, this property presents numerous possibilities for future use, such as general office space or an antique shop. The property enjoys excellent visibility, boasting a direct line of sight as one crosses the Mattaponi River Bridge into King William County. Note that this listing includes the building only; an adjacent home, listed separately for $75,000, is not included in this sale. The current tenant will vacate on December 31, 2023. The asking price for this property is $275,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Aylett
    County
    King William
    State
    Virginia
    Longitude
    -77.1056
    Latitude
    37.786

    Comparable in this City

    • Value Estimation
      $610,000
      5,400 SF

      6711 Richmond Tappahannock Hwy

      MINI-WAREHOUSE, STORAGE • 5,400 SF
      6711 Richmond Tappahannock Hwy, Aylett, VA 23009-3013
      View Details
    • Value Estimation
      $550,000
      6,000 SF

      100 Globe Rd

      WAREHOUSE, STORAGE • 6,000 SF
      100 Globe Rd, Aylett, VA 23009-3557
      View Details
    • Value Estimation
      $780,000
      7,800 SF

      8103 Richmond Tappahannock Hwy

      MINI-WAREHOUSE, STORAGE • 7,800 SF
      8103 Richmond Tappahannock Hwy, Aylett, VA 23009-3024
      View Details
    • Value Estimation by Request
      7,545 SF

      7890 Richmond Tappahannock Hwy

      OFFICE (GENERAL) • 7,545 SF
      7890 Richmond Tappahannock Hwy, Aylett, VA 23009-3056
      View Details
    • Value Estimation by Request
      1.20 Acres

      8065 Richmond Tappahannock Hwy

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 1.20 Acres
      8065 Richmond Tappahannock Hwy, Aylett, VA 23009
      View Details
    • Value Estimation by Request
      728 SF

      8267 Richmond Tappahannock Hwy

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 728 SF
      8267 Richmond Tappahannock Hwy, Aylett, VA 23009
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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    Similar Nearby for Lease

    • Contact for pricing
      9,000 SF

      Warehouse/Retail Space For Lease

      9,000± SF warehouse/retail space for lease on 2.3± AC.
      5098 Richmond Tappahannock Hwy, Aylett, VA 23009
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    • $1,500 /Mo

      Office Space in Aylett, VA

      1500 sq ft office space with open floor plan.
      779 Anne Ln, Aylett, VA 23009
      View Details
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    Aylett, VA 23009
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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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