Retail Condominium with Deeded
New
For Sale
$1,095,000
100-3800 Fairfax Dr, Arlington, VA 22209
An existing optical retail layout offers a practical starting point for retail or professional office occupancy.
Property Size1,672 SF
Price / SF$654.90
Days on Market6
Property Features for 100-3800 Fairfax Dr
General Information
Standard status
Active
Size
1,672 SF
Total Parking Spaces
6
Additional Details
Asking Price
$1,095,000
Taxes and HOA fees
Annual Taxes
$2,966
Listing Agency:
Compass
(202) 386-6330
Listed By:
KAUSHIK RATH · License #663982
(917) 678-1307
Source:
Exprealty
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 2:32PM
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 Compass
Investment Insights
Based on property information with market context.
Located at Tower Villas in Arlington’s Virginia Square, this retail condominium contains approximately 1,672 square feet. The suite has a courtyard-facing entrance and an existing optometry and optical retail buildout, with potential for retail or professional office use.
Six separately deeded spaces in the building’s commercial garage are included. Four more deeded spaces behind the secured garage gate are available separately, for a possible total of ten. The sale covers the real estate and permanent improvements; the operating optometry and optical business, inventory, movable equipment, patient records, trade name, and goodwill are excluded.
Six separately deeded spaces in the building’s commercial garage are included. Four more deeded spaces behind the secured garage gate are available separately, for a possible total of ten. The sale covers the real estate and permanent improvements; the operating optometry and optical business, inventory, movable equipment, patient records, trade name, and goodwill are excluded.
Key Highlights
- Approximately 1,672 square feet
- Existing optometry and optical retail buildout
- Six separately deeded commercial garage parking spaces included
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
$55,931
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
5.11%
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%
$1,118,620
$1.1M
Cap Rate 7%
$799,014
$799.0K
Cap Rate 9%
$621,456
$621.5K
Market Conditions
NOI Build-Up for 1,672 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
$83.7K $50.04/SF
− Vacancy
−$3.8K −$2.25/SF
EGI
$79.9K $47.79/SF
− OpEx
−$24.0K −$14.34/SF
NOI
$55.9K $33.45/SF
Area
Arlington, VA
Vacancy
4.50%
Lease Rate
$50.04 /SF/Yr
Expense Ratio
30.00%
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%
$1,118,620
Cap Rate 7%
$799,014
Cap Rate 9%
$621,456
Alternative Uses
Best Use
Retail
$799.0K
$699.1K – $932.2K
NOI $55,931 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$928.7K
$812.6K – $1.08M
NOI $65,007 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,100
Businesses Nearby
78k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 35%
Groceries 26%
Dining 25%
Hotels & Casinos 8%
Safeway
Groceries
17,774 visits/mo
0.2 miles
Exxon
Shops & Services
16,827 visits/mo
0.3 miles
7-Eleven
Shops & Services
10,712 visits/mo
0.3 miles
Chopt
Dining
7,293 visits/mo
0.3 miles
Tupelo Honey
Dining
6,218 visits/mo
0.4 miles
Demographics for 22209, VA
14,859
Population
9,261
Households
1.6
Avg Household Size
33
Median Age
86%
College-Educated
98%
High-School Grad
0.7 sq mi
ZIP Area
21,227
Density / Sq Mi
$110,824
Median Household Income
$83,221
Median Earnings
$2,171
Median Rent
$799,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - An existing optical retail layout offers a practical starting point for retail or professional office occupancy.
Where is this retail space located?
The property is located at 100-3800 Fairfax Dr Arlington, VA.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Approximately 1,672 square feet; Existing optometry and optical retail buildout; Six separately deeded commercial garage parking spaces included
