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2808 Virginia Ave – High-Vis Flex/Retail 2808 Virginia Ave 5,952 SF Retail Building Collinsville, VA 24078 $339,000 ($56.96/SF)
INVESTMENT HIGHLIGHTS
- 130' frontage on US-220 Bus (˜19 K VPD)
- B-1 zoning – retail/office/service
- Pro-forma $4 K/mo NNN = 11-13 % cap
- $57/SF low basis
- Paved parking + rear delivery door
EXECUTIVE SUMMARY
±5,952 SF block building on Virginia Ave/US-220 Business. Versatile B-1 zoning allows retail, office, trades, or light flex. Clear-span 11' interior, rear roll-up access, 130' of frontage, paved parking. Vacant—lease at $8–$10/SF NNN for 11–13 % cap. Taxes approximate; currently part of three-parcel assessment—will be reassessed post-closing. Buyer to verify all projections.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$48,000
|
$8.06
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,400
|
$0.40
|
| Effective Gross Income |
$45,600
|
$7.66
|
| Taxes |
$1,250
|
$0.21
|
| Operating Expenses |
$5,180
|
$0.87
|
| Total Expenses |
$6,430
|
$1.08
|
| Net Operating Income |
$39,170
|
$6.58
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $48,000 |
| Annual Per SF | $8.06 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $2,400 |
| Annual Per SF | $0.40 |
| Effective Gross Income | |
|---|---|
| Annual | $45,600 |
| Annual Per SF | $7.66 |
| Taxes | |
|---|---|
| Annual | $1,250 |
| Annual Per SF | $0.21 |
| Operating Expenses | |
|---|---|
| Annual | $5,180 |
| Annual Per SF | $0.87 |
| Total Expenses | |
|---|---|
| Annual | $6,430 |
| Annual Per SF | $1.08 |
| Net Operating Income | |
|---|---|
| Annual | $39,170 |
| Annual Per SF | $6.58 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
5,952 SF
Building Class
C
Year Built
1900
Price
$339,000
Price Per SF
$56.96
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.62
Lot Size
0.22 AC
Zoning
B-1 General Commercial - B-1 General Commercial: by-right retail, office, service trades & light-flex uses. No rezoning required.
Frontage
130’ on Virginia Ave (US-220)
AMENITIES
- Security System
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 042750000 | Total Assessment | $262,800 |
| Land Assessment | $91,200 | Annual Taxes | $1,250 ($0.21/SF) |
| Improvements Assessment | $171,600 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
042750000
Land Assessment
$91,200
Improvements Assessment
$171,600
Total Assessment
$262,800
Annual Taxes
$1,250 ($0.21/SF)
Tax Year
2025
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Presented by
Vaughn Real Estate Inc.
2808 Virginia Ave – High-Vis Flex/Retail | 2808 Virginia Ave
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