Office Condominium Suite with
For Sale
$244,999
10615 Judicial Dr #602, Fairfax, VA 22030
Bright office suite includes reception area, three private offices, kitchenette, private restroom, and storage, with 2024 HVAC.
Property Size960 SF
Price / SF$255.21
Days on Market58
Property Features for 10615 Judicial Dr #602
General Information
Standard status
Active
Size
960 SF
Total Parking Spaces
120
Zoning
CL
Taxes and HOA fees
Annual Taxes
$2,777
Amenities
kitchenette
private restroom
generous storage space
large windows
high ceilings
ample parking
professional exterior signage
Central Air
Electric
Electric Water Heater
Building Details
Building Size
960 SF
Year Built
1989
Listing Agency:
Samson Properties
Listed By:
Anuj Malik
(571) 239-9787
Source:
Evrealestate
Added: Jul 10
Changed: Sep 3
Last Checked: Sep 4 at 4:58AM
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.
This well-maintained office condominium suite is designed for a functional, professional layout. The interior includes a welcoming reception or admin area, three private offices, a kitchenette, a private restroom, and generous storage. Large windows overlooking Judicial Drive, high ceilings, and abundant natural light support a productive work environment.
The suite is located in the Judicial Court Office Condominium community, directly across from the Fairfax County Courthouse. The property offers ample parking, professional exterior signage, and strong accessibility, with nearby proximity to Downtown Fairfax and major commuter routes.
Recent improvements include a new HVAC system installed in 2024 and fresh interior paint, contributing to a move-in ready condition.
The suite is located in the Judicial Court Office Condominium community, directly across from the Fairfax County Courthouse. The property offers ample parking, professional exterior signage, and strong accessibility, with nearby proximity to Downtown Fairfax and major commuter routes.
Recent improvements include a new HVAC system installed in 2024 and fresh interior paint, contributing to a move-in ready condition.
Key Highlights
- Office condo built in 1989, located directly across from the Fairfax County Courthouse in the Judicial Court Office Condominium community
- Bright suite with large windows overlooking Judicial Drive and high ceilings for an open, naturally lit workspace
- Efficient layout with reception/admin area, three private offices, kitchenette, private restroom, and generous storage space
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
$18,173
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
7.42%
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%
$363,460
$363.5K
Cap Rate 7%
$259,614
$259.6K
Cap Rate 9%
$201,922
$201.9K
Market Conditions
NOI Build-Up for 960 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
$28.3K $29.52/SF
− Vacancy
−$4.1K −$4.28/SF
EGI
$24.2K $25.24/SF
− OpEx
−$6.1K −$6.31/SF
NOI
$18.2K $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%
$363,460
Cap Rate 7%
$259,614
Cap Rate 9%
$201,922
Alternative Uses
Best Use
Office B
$259.6K
$227.2K – $302.9K
NOI $18,173 @ 7.0% cap · market cap 7.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.02M
$3.52M – $4.69M
NOI $281,686 @ 7.0% cap · market cap 114.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,882
Businesses Nearby
Explore this area
Business Placement
Demographics for 22030, VA
60,431
Population
21,758
Households
2.8
Avg Household Size
34
Median Age
67%
College-Educated
94%
High-School Grad
19.4 sq mi
ZIP Area
3,115
Density / Sq Mi
$139,885
Median Household Income
$61,628
Median Earnings
$2,242
Median Rent
$700,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Bright office suite includes reception area, three private offices, kitchenette, private restroom, and storage, with 2024 HVAC.
Where is this office units located?
The property is located at 10615 Judicial Dr #602 Fairfax, VA.
What is the asking price?
The asking price for this property is $244,999.
What are key features of this property?
This property features: Office condo built in 1989, located directly across from the Fairfax County Courthouse in the Judicial Court Office Condominium community; Bright suite with large windows overlooking Judicial Drive and high ceilings for an open, naturally lit workspace; Efficient layout with reception/admin area, three private offices, kitchenette, private restroom, and generous storage space
