Office Unit Near
For Sale
$290,000
10521 Crestwood Dr Unit 203, Manassas, VA 20109
Located near a bus stop with access to Sudley Road, Crestwood Drive, and I-66.
Property Size1,505 SF
Price / SF$192.69
Days on Market15
Property Features for 10521 Crestwood Dr Unit 203
General Information
Standard status
Active
Size
1,505 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Building Details
Year Built
2003
Listing Agency:
Re/Max Roots
(540) 247-1941
Listed By:
Leah R REALTOR · License #0225048720
Source:
Fulcrum-residential
Added: Aug 16
Changed: Aug 28
Last Checked: Aug 29 at 11:57AM
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 Re/Max Roots
Investment Insights
Based on property information with market context.
Office Unit 203 at 10521 Crestwood Dr. is a 1,505-square-foot commercial office property built in 2003. The unit is positioned at the intersection of Crestwood Drive and Sudley Road, also designated Business 234.
The property is approximately 1.5 miles from I-66 and sits near a bus stop and multiple shopping centers. The seller has expressed a desire to lease the unit from the purchaser, providing a potential leaseback arrangement subject to mutually agreed terms.
The property is approximately 1.5 miles from I-66 and sits near a bus stop and multiple shopping centers. The seller has expressed a desire to lease the unit from the purchaser, providing a potential leaseback arrangement subject to mutually agreed terms.
Key Highlights
- 1,505‑square‑foot office unit built in 2003
- Approximately 1.5 miles from I‑66
- Access from Sudley Road, also known as Business 234
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
$20,151
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
6.95%
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%
$403,020
$403.0K
Cap Rate 7%
$287,871
$287.9K
Cap Rate 9%
$223,900
$223.9K
Market Conditions
NOI Build-Up for 1,505 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
$31.4K $20.88/SF
− Vacancy
−$4.6K −$3.03/SF
EGI
$26.9K $17.85/SF
− OpEx
−$6.7K −$4.46/SF
NOI
$20.2K $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%
$403,020
Cap Rate 7%
$287,871
Cap Rate 9%
$223,900
Alternative Uses
Best Use
Office B
$287.9K
$251.9K – $335.9K
NOI $20,151 @ 7.0% cap · market cap 6.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$835.9K
$731.4K – $975.2K
NOI $58,514 @ 7.0% cap · market cap 20.18%
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
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 - Located near a bus stop with access to Sudley Road, Crestwood Drive, and I-66.
Where is this office units located?
The property is located at 10521 Crestwood Dr Unit 203 Manassas, VA.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: 1,505‑square‑foot office unit built in 2003; Approximately 1.5 miles from I‑66; Access from Sudley Road, also known as Business 234
