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    11116 LEE HWY Fairfax, VA 22030

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    Claim this Listing
    New
    For Sale
    $200,000

    BusinessOpportunity - FAIRFAX, VA

    Type:Retail
    Added:
    Apr 15, 2026
    Days on Market:
    1
    Last Refresh:
    Apr 15 at 8:06 pm

    Property Features for 11116 LEE HWY

    General Information

    Property type
    Other
    Property subtype
    Retail
    Parking features
    On Street
    Standard status
    Active

    Taxes and HOA fees

    Tax Annual Amount
    0

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    2025
    Building materials
    Brick

    We can help!

    Listing Contact
    Puneet Bhagi

    Listing agent Puneet Bhagi License #225178862

    Listing office Ikon Realty 3554 Chain Bridge Road unit: 305, annandale, VA

    Listing date Apr 15, 2026

    MLS# VAFX2303698

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Turnkey Grocery Store on Lee Highway

    An exceptional opportunity exists to acquire a well-established grocery store situated in a high-traffic corridor on Lee Highway in Fairfax, VA. This fully operational business benefits from a strong local customer base and consistent foot traffic. The store is thoughtfully laid out and well-stocked with a diverse selection of international groceries, fresh produce, halal meats, snacks, beverages, and everyday essentials. Known in the community for its specialty items and friendly service, the business has built a loyal following and strong neighborhood presence. The store is fully equipped with shelving, refrigeration units, and a POS system. Ample parking is available for customers. The location offers excellent signage and high visibility. There is an opportunity to expand product lines or add services such as delivery or hot food, butcher shop etc. This is a rare chance to acquire a neighborhood staple in a sought-after area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dukaan Grocery & Convenience Store Sheth Brothers Indian ... Grocery & Convenience Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Wegmans — 11620 Monument Dr, Fairfax, VA 22030
    • Lidl — 11179 US-29, Fairfax, VA 22030
    • Americana Grocery — 10897 Main St, Fairfax, VA 22030
    • Halal Bazar — 11127 US-29, Fairfax, VA 22030
    • Great Wall Supermarket — 11264 James Swart Cir, Fairfax, VA 22030

    Location Insight

    • Map
    • Local Demand
    City
    Fairfax
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.32918
    Latitude
    38.85244

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    FAQs

    What type of property is this?
    Grocery and convenience store - Profitable, established grocery store in prime Fairfax location for sale.
    Where is this grocery and convenience store located?
    The property is located at 11116 LEE HWY Fairfax, VA.
    What is the asking price?
    The asking price for this property is $200,000.
    What are key features of this property?
    This property features: Turnkey, fully operational grocery store with immediate cash flow.; Prime, high‑visibility location on Lee Highway with excellent signage.; Strong local customer base and consistent foot traffic.
    (703) 346-2293
    We can help!
    Listing Contact
    Puneet Bhagi
    Real Estate License ID: 225178862
    Learn More
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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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