Ground-Level Office
For Sale
$289,000
106-299 Herndon Pkwy, Herndon, VA 20170
Office space offers a skylight, direct parking-lot entry, and convenient access to a half bath.
Property Size1,000 SF
Price / SF$289
Days on Market170
Property Features for 106-299 Herndon Pkwy
General Information
Standard status
Active
Size
1,000 SF
Zoning
CO
Additional Details
Floor
Ground
Taxes and HOA fees
Annual Taxes
$4,332
Amenities
skylight
half bathroom
Listing Agency:
Weichert, REALTORS
(571) 228-5050
Listed By:
Michael C Lefevere · License #0225082600
(571) 228-5050
Source:
Exprealty
Added: Mar 16
Changed: Aug 31
Last Checked: Aug 30 at 11:47PM
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 Weichert, REALTORS
Investment Insights
Based on property information with market context.
This ground-level office unit provides roughly 1,000 square feet of workspace with entry directly from the parking lot. A half bath is positioned near the entrance, while a skylight brings natural light into the interior. The unit is available for immediate occupancy.
The property is located at the intersection of Herndon Pkwy. and Elden St. and is zoned CO (Commercial Office). Open parking is available in front of the unit, supporting convenient access for occupants and visitors.
The property is located at the intersection of Herndon Pkwy. and Elden St. and is zoned CO (Commercial Office). Open parking is available in front of the unit, supporting convenient access for occupants and visitors.
Key Highlights
- Roughly 1, 000 sq.ft. of ground‑level office space
- Direct entry to the unit from the parking lot
- Skylight provides natural light inside the 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
$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
6.55%
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
Loudoun 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 6.55%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$313.4K
$274.2K – $365.6K
NOI $21,938 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,346
Businesses Nearby
Explore this area
Business Placement
Demographics for 20170, VA
42,756
Population
14,084
Households
3
Avg Household Size
36
Median Age
57%
College-Educated
87%
High-School Grad
8.8 sq mi
ZIP Area
4,859
Density / Sq Mi
$157,875
Median Household Income
$59,119
Median Earnings
$2,224
Median Rent
$625,600
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 - Office space offers a skylight, direct parking-lot entry, and convenient access to a half bath.
Where is this office units located?
The property is located at 106-299 Herndon Pkwy Herndon, VA.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Roughly 1, 000 sq.ft. of ground‑level office space; Direct entry to the unit from the parking lot; Skylight provides natural light inside the office
