Second-Floor Office Unit with Private
For Sale
$275,000
10515 CRESTWOOD DRIVE #201, Manassas, VA 20109
Bright second-floor office unit with an open room, full private restroom, and Business 1 office zoning.
Property Size1,498 SF
Price / SF$183.58
Days on Market29
Property Features for 10515 CRESTWOOD DRIVE #201
General Information
Standard status
Active
Size
1,498 SF
Property subtype
Commercial
Zoning
Business 1
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Floor
2
HOA Fee
$307
Building Details
Year Built
2003
Listing Agency:
Wright Realty, Inc.
(703) 819-6411
Listed By:
Candida T Verrilli · License #0225102420
(703) 819-6411
Source:
Cummingsrealtors
Added: Jul 26
Changed: Aug 23
Last Checked: Aug 23 at 6:50AM
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 Wright Realty, Inc.
Investment Insights
Based on property information with market context.
This second-floor office unit features a bright, spacious open room layout along with a full private restroom. It’s set up for professional and medical office use under Business 1 – Office zoning.
The property is in an area described as conveniently located close to Rt 66, with nearby shopping and public transportation. The building was constructed in 2003.
Condo fees are applicable, with listed condo fees at $307.00 per month.
The property is in an area described as conveniently located close to Rt 66, with nearby shopping and public transportation. The building was constructed in 2003.
Condo fees are applicable, with listed condo fees at $307.00 per month.
Key Highlights
- Second‑floor office unit with bright, spacious open room layout
- Full private restroom in the unit
- Business 1 – Office zoning for professional and medical use
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
$20,057
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
7.29%
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%
$401,140
$401.1K
Cap Rate 7%
$286,529
$286.5K
Cap Rate 9%
$222,856
$222.9K
Market Conditions
NOI Build-Up for 1,498 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
$31.3K $20.88/SF
− Vacancy
−$4.5K −$3.03/SF
EGI
$26.7K $17.85/SF
− OpEx
−$6.7K −$4.46/SF
NOI
$20.1K $13.39/SF
Area
Manassas Park County, VA
Vacancy
14.50%
Lease Rate
$20.88 /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%
$401,140
Cap Rate 7%
$286,529
Cap Rate 9%
$222,856
Alternative Uses
Best Use
Office B
$286.5K
$250.7K – $334.3K
NOI $20,057 @ 7.0% cap · market cap 7.29%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$832.0K
$728.0K – $970.7K
NOI $58,242 @ 7.0% cap · market cap 21.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,583
Businesses Nearby
Explore this area
Business Placement
Demographics for 20109, VA
43,849
Population
15,673
Households
2.8
Avg Household Size
32
Median Age
35%
College-Educated
83%
High-School Grad
23.8 sq mi
ZIP Area
1,842
Density / Sq Mi
$88,966
Median Household Income
$44,306
Median Earnings
$1,928
Median Rent
$411,700
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 - Bright second-floor office unit with an open room, full private restroom, and Business 1 office zoning.
Where is this office units located?
The property is located at 10515 CRESTWOOD DRIVE #201 Manassas, VA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Second‑floor office unit with bright, spacious open room layout; Full private restroom in the unit; Business 1 – Office zoning for professional and medical use
