Office Condominium Near
For Sale
$2,750,000
11490 COMMERCE PARK Drive, Reston, VA 20191
Commercial Sale, RESTON, VA
Property Size12,535 SF
Price / SF$219.39
Days on Market454
Property Features for 11490 COMMERCE PARK Drive
General Information
Property type
Other
Property subtype
Office
Parking
12
Parking features
Special Needs, Parking Lot
Elementary school district
FAIRFAX COUNTY PUBLIC SCHOOLS
Middle school district
FAIRFAX COUNTY PUBLIC SCHOOLS
High school district
FAIRFAX COUNTY PUBLIC SCHOOLS
Standard status
Active
Taxes and HOA fees
Tax Annual Amount
37879
Utilities
Heating system
Other (Heating)
Cooling system
Wall Unit(s)
Amenities
secure private entrances
kitchenettes
conference rooms
collaborative workstations
24/7 secure access
on-site management
Building Details
Year built
1984
Listing Agency:
Keller Williams Realty
(703) 636-7300
Listed By:
Anne Nouri · License #0225215559
(703) 817-6499
Added: Jun 24, 2025
Changed: Sep 16
Last Checked: Sep 20 at 7:06AM
MLS# VAFX2249966
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.
Investment Insights
Based on property information with market context.
This 12,535 SF office condominium at 11490 Commerce Park Drive combines four merged suites within Commerce Executive II. The layout includes five private entrances, three equipped kitchenettes, multiple conference rooms, and open collaborative work areas. Ten dedicated parking spaces are provided, along with additional visitor parking. Built in 1984, the property offers 24/7 secure access and elevator service.
Wiehle-Reston East Metro on the Silver Line is a 6-minute walk away, while the property also has frontage on Sunrise Valley Drive and direct access to the Dulles Toll Road. Reston Town Center, the Google campus, Reston Hospital, and Dulles International Airport are within the surrounding Reston/Herndon corridor. The HOA covers utilities, janitorial service, exterior maintenance, landscaping, and professional on-site management.
Wiehle-Reston East Metro on the Silver Line is a 6-minute walk away, while the property also has frontage on Sunrise Valley Drive and direct access to the Dulles Toll Road. Reston Town Center, the Google campus, Reston Hospital, and Dulles International Airport are within the surrounding Reston/Herndon corridor. The HOA covers utilities, janitorial service, exterior maintenance, landscaping, and professional on-site management.
Key Highlights
- 12,535 SF office condominium created from four merged suites
- Five secure private entrances and three fully equipped kitchenettes
- Multiple conference rooms and open collaborative workstations
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
$237,284
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
8.63%
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%
$4,745,680
$4.7M
Cap Rate 7%
$3,389,771
$3.4M
Cap Rate 9%
$2,636,489
$2.6M
Market Conditions
NOI Build-Up for 12,535 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
$370.0K $29.52/SF
− Vacancy
−$53.7K −$4.28/SF
EGI
$316.4K $25.24/SF
− OpEx
−$79.1K −$6.31/SF
NOI
$237.3K $18.93/SF
Area
Loudoun County, VA
Vacancy
14.50%
Lease Rate
$29.52 /SF/Yr
Expense Ratio
25.00%
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%
$4,745,680
Cap Rate 7%
$3,389,771
Cap Rate 9%
$2,636,489
Alternative Uses
Best Use
Office B
$3.39M
$2.97M – $3.95M
NOI $237,284 @ 7.0% cap · market cap 8.63%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.93M
$3.44M – $4.58M
NOI $274,987 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,350
Businesses Nearby
Explore this area
Business Placement
Demographics for 20191, VA
29,948
Population
12,744
Households
2.3
Avg Household Size
39
Median Age
66%
College-Educated
93%
High-School Grad
7.8 sq mi
ZIP Area
3,839
Density / Sq Mi
$141,019
Median Household Income
$62,313
Median Earnings
$1,983
Median Rent
$616,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Flexible multi-suite configuration supports owner occupancy or partial leasing.
Where is this office units located?
The property is located at 11490 COMMERCE PARK Drive Reston, VA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 12,535 SF office condominium created from four merged suites; Five secure private entrances and three fully equipped kitchenettes; Multiple conference rooms and open collaborative workstations
