Second-Floor Office
For Sale
$413,367
8136 OLD KEENE MILL Road, Springfield, VA 22152
Commercial Sale, SPRINGFIELD, VA
Property Size1,872 SF
Price / SF$220.82
Days on Market516
Property Features for 8136 OLD KEENE MILL Road
General Information
Property type
Other
Property subtype
Office
Subdivision
CARDINAL FOREST
High school
WEST SPRINGFIELD
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
4698
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Amenities
conference room
waiting area
kitchenette
Building Details
Year built
1972
Number of units
1
Building materials
Brick
Listing Agency:
Wellborn Management Co., Inc.
(703) 464-7009
Listed By:
Vincent L Alexander · License #0225076619
(703) 464-7009
Added: Apr 3, 2025
Changed: Aug 24
Last Checked: Aug 31 at 4:06PM
MLS# VAFX2231896
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 1,872 SF second-floor office unit includes multiple private offices, a substantial conference room, an open waiting area, and a kitchenette. The suite is located immediately off the elevator, providing straightforward access within the building. Brick construction and heat pump heating and cooling are in place.
The property is located at 8136 Old Keene Mill Road in Springfield, Virginia 22152. Built in 1972, the space is configured for office operations and can accommodate medical or general office use based on its existing layout.
The property is located at 8136 Old Keene Mill Road in Springfield, Virginia 22152. Built in 1972, the space is configured for office operations and can accommodate medical or general office use based on its existing layout.
Key Highlights
- 1,872 SF office unit on the second floor
- Multiple private offices with conference room
- Open waiting area and kitchenette
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
$35,436
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
8.57%
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%
$708,720
$708.7K
Cap Rate 7%
$506,229
$506.2K
Cap Rate 9%
$393,733
$393.7K
Market Conditions
NOI Build-Up for 1,872 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
$55.3K $29.52/SF
− Vacancy
−$8.0K −$4.28/SF
EGI
$47.2K $25.24/SF
− OpEx
−$11.8K −$6.31/SF
NOI
$35.4K $18.93/SF
Area
Fairfax 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%
$708,720
Cap Rate 7%
$506,229
Cap Rate 9%
$393,733
Alternative Uses
Best Use
Office B
$506.2K
$443.0K – $590.6K
NOI $35,436 @ 7.0% cap · market cap 8.57%
Second Best
Healthcare Medical
$487.3K
$426.4K – $568.5K
NOI $34,111 @ 7.0% cap · market cap 8.25%
Theoretical Best
Specialty Retail
$7.85M
$6.87M – $9.15M
NOI $549,287 @ 7.0% cap · market cap 132.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
803
Businesses Nearby
Explore this area
Business Placement
Demographics for 22152, VA
29,843
Population
9,779
Households
3.1
Avg Household Size
40
Median Age
64%
College-Educated
94%
High-School Grad
6.0 sq mi
ZIP Area
4,974
Density / Sq Mi
$159,557
Median Household Income
$73,552
Median Earnings
$2,495
Median Rent
$620,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Private offices, conference space, waiting area, and kitchenette support medical or general office use.
Where is this office units located?
The property is located at 8136 OLD KEENE MILL Road Springfield, VA.
What is the asking price?
The asking price for this property is $413,367.
What are key features of this property?
This property features: 1,872 SF office unit on the second floor; Multiple private offices with conference room; Open waiting area and kitchenette
