Two-Story Flex
For Sale
$1,324,000
10-22580 Glenn Dr, Sterling, VA 20164
Flexible condominium space with office and warehouse components, suitable for an owner occupant or multiple tenants.
Property Size3,484 SF
Price / SF$380.02
Days on Market15
Property Features for 10-22580 Glenn Dr
General Information
Standard status
Active
Size
3,484 SF
Total Parking Spaces
7
Warehouse & Industrial
Clear Height
24 ft
Warehouse Space
2,800 SF
Office Build-Out
684 SF
Mezzanine
684 SF
Dock-High Doors
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,150
Building Details
Stories
2
Listing Agency:
Samson Properties
(571) 407-7497
Listed By:
Todd Kolasch
(703) 424-8532
Source:
Exprealty
Added: Sep 10
Changed: Sep 23
Last Checked: Sep 22 at 10:34PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Samson Properties
Investment Insights
Based on property information with market context.
This fee-simple flex condominium combines 684 square feet of mezzanine office space with 2,800 square feet of industrial warehouse area. The mezzanine includes three offices, while the front entry office features cubicles, a conference room, and a private office. The unit also offers a kitchenette, full bath, one dock-high garage door, and 24-foot clear ceiling height. A heat pump HVAC unit serves the space.
The property includes an average of seven designated parking spaces per unit, along with additional open parking at the front, rear, and side. Located at 10-22580 Glenn Dr in Sterling, the condominium is minutes from Dulles Airport and just off Route 28. Current leases and tenants are in place, with room for an owner occupant if desired. Existing racking, a forklift, and large-scale equipment are available separately.
The property includes an average of seven designated parking spaces per unit, along with additional open parking at the front, rear, and side. Located at 10-22580 Glenn Dr in Sterling, the condominium is minutes from Dulles Airport and just off Route 28. Current leases and tenants are in place, with room for an owner occupant if desired. Existing racking, a forklift, and large-scale equipment are available separately.
Key Highlights
- 3,484 total square feet across 684 SF of mezzanine office and 2,800 SF of warehouse space
- 24‑foot clear height with one dock‑high garage door
- Three mezzanine offices plus cubicles, conference room, and private office
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
$51,687
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
3.90%
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%
$1,033,740
$1.0M
Cap Rate 7%
$738,386
$738.4K
Cap Rate 9%
$574,300
$574.3K
Market Conditions
NOI Build-Up for 3,484 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
$83.6K $24.00/SF
− Vacancy
−$4.1K −$1.18/SF
EGI
$79.5K $22.82/SF
− OpEx
−$27.8K −$7.99/SF
NOI
$51.7K $14.84/SF
Area
Loudoun County, VA
Vacancy
4.90%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,033,740
Cap Rate 7%
$738,386
Cap Rate 9%
$574,300
Alternative Uses
Best Use
Flex RnD
$738.4K
$646.1K – $861.5K
NOI $51,687 @ 7.0% cap · market cap 3.90%
Second Best
Warehouse
$391.1K
$342.2K – $456.2K
NOI $27,374 @ 7.0% cap · market cap 2.07%
Theoretical Best
Specialty Retail
$1.09M
$955.4K – $1.27M
NOI $76,430 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
24 ft
Clear height
1
Dock-high doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
979
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 20164, VA
40,888
Population
13,077
Households
3.1
Avg Household Size
36
Median Age
39%
College-Educated
81%
High-School Grad
7.6 sq mi
ZIP Area
5,380
Density / Sq Mi
$132,067
Median Household Income
$47,315
Median Earnings
$2,031
Median Rent
$526,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible condominium space with office and warehouse components, suitable for an owner occupant or multiple tenants.
Where is this flex space located?
The property is located at 10-22580 Glenn Dr Sterling, VA.
What is the asking price?
The asking price for this property is $1,324,000.
What are key features of this property?
This property features: 3,484 total square feet across 684 SF of mezzanine office and 2,800 SF of warehouse space; 24‑foot clear height with one dock‑high garage door; Three mezzanine offices plus cubicles, conference room, and private office
