First-Floor Office Condominium
For Sale
$425,000
103-5623 Columbia Pike, Falls Church, VA
Street-level suite in Rock Spring Professional Center with ample surface parking and flexible professional use for owner-users or investors.
Property Size1,000 SF
Price / SF$425
Days on Market144
Property Features for 103-5623 Columbia Pike
General Information
Standard status
Active
Size
1,000 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,800
Listing Agency:
Samson Properties
(703) 378-8810
Listed By:
Almaz Gebrehiwot · License #0225177159
(703) 220-1056
Source:
Exprealty
Added: Apr 13
Changed: Aug 20
Last Checked: Sep 1 at 10:21PM
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.
Suite 123 is a first-floor office condominium located within the established Rock Spring Professional Center. The street-level, approximately 1,000 SF space is designed for client-facing operations alongside private workspace, supporting a professional or retail-style business layout. The unit has previously been used as a pharmacy and professional office space, which may help reduce the amount of reconfiguration needed for compatible uses.
The suite sits directly along Columbia Pike at the intersection of Columbia Pike and Bailey’s Crossroads, supporting strong visibility and signage potential. It is positioned within a professional, well-maintained office community and includes ample surface parking for clients and staff, an important convenience for daily visitation.
For tenants, owner-users, or investors seeking a flexible commercial footprint in a built professional center, Suite 123 offers a street-level option that can fit a range of business types such as medical, legal, accounting, insurance, or boutique service operations. Its combination of functional interior space, direct corridor exposure, and on-site parking makes it a practical choice for establishing or expanding a local presence in the Falls Church area.
The suite sits directly along Columbia Pike at the intersection of Columbia Pike and Bailey’s Crossroads, supporting strong visibility and signage potential. It is positioned within a professional, well-maintained office community and includes ample surface parking for clients and staff, an important convenience for daily visitation.
For tenants, owner-users, or investors seeking a flexible commercial footprint in a built professional center, Suite 123 offers a street-level option that can fit a range of business types such as medical, legal, accounting, insurance, or boutique service operations. Its combination of functional interior space, direct corridor exposure, and on-site parking makes it a practical choice for establishing or expanding a local presence in the Falls Church area.
Key Highlights
- First‑floor street‑level office condo (Unit 123) in Rock Spring Professional Center at Columbia Pike and Bailey’s Crossroads
- Approximately 1,000 SF of functional space suited for a range of professional or retail uses
- Previously used as a pharmacy and professional office space, offering flexibility with minimal reconfiguration
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
$18,930
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
4.45%
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%
$378,600
$378.6K
Cap Rate 7%
$270,429
$270.4K
Cap Rate 9%
$210,333
$210.3K
Market Conditions
NOI Build-Up for 1,000 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
$29.5K $29.52/SF
− Vacancy
−$4.3K −$4.28/SF
EGI
$25.2K $25.24/SF
− OpEx
−$6.3K −$6.31/SF
NOI
$18.9K $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%
$378,600
Cap Rate 7%
$270,429
Cap Rate 9%
$210,333
Alternative Uses
Best Use
Office B
$270.4K
$236.6K – $315.5K
NOI $18,930 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.19M
$3.67M – $4.89M
NOI $293,423 @ 7.0% cap · market cap 69.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
349
Businesses Nearby
Explore this area
Business Placement
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 - Street-level suite in Rock Spring Professional Center with ample surface parking and flexible professional use for owner-users or investors.
Where is this office units located?
The property is located at 103-5623 Columbia Pike Falls Church, VA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: First‑floor street‑level office condo (Unit 123) in Rock Spring Professional Center at Columbia Pike and Bailey’s Crossroads; Approximately 1,000 SF of functional space suited for a range of professional or retail uses; Previously used as a pharmacy and professional office space, offering flexibility with minimal reconfiguration
