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    Retail Center with High Visibility Title is generated by Realmo AI

    11181 11199A-11199E 11211-11219 Lee Highway, Fairfax, VA 22030

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    Retail and dining options with high traffic and local population.

    Type:Retail, Restaurant
    Property size:
    220,000 SF
    Added:
    Jun 23, 2023
    Days on Market:
    1067
    Last Refresh:
    Mar 17 at 1:19 pm

    Property Features for 11181 11199A-11199E 11211-11219 Lee Highway

    General Information

    Standard status
    Active
    Size
    220,000 SF
    Property subtype
    Retail, Restaurant

    Spaces For Lease

    at 11181 11199A-11199E 11211-11219 Lee Highway Contact us

    We can help!

    Listing Contact
    Arthur Matarazzo
    Arthur Matarazzo

    Listing agent Arthur Matarazzo License #VA

    Listing office AJ Dwoskin & Associates, Inc.

    Listing date Jun 23, 2023

    Source Crexi

    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 AJ Dwoskin & Associates, Inc.

    HighLights

    • High visibility location at the corner of Route 29 (Lee Highway) and Jermantown Road.
    • Daily traffic count of 41,000 cars.
    • Access to Route 50.
    • Diverse mix of tenants including restaurants, national retailers, and local businesses.
    • Total area of 220,000 square feet.
    • Located within three miles of a population of over 95,000 people.

    Overview

    Fairfax Centre is a highly visible center offering a mix of retail shopping, service providers, and dining options. Situated at the corner of Route 29 (Lee Highway) and Jermantown Road, it also provides access to Route 50. The location benefits from daily traffic counts of 41,000 cars. The 220,000-square-foot community center includes restaurants, national retailers, and local businesses, drawing from a local population of over 95,000 people within a three-mile radius.
    Location Intelligence

    Current Use by Public Records

    Walmart Garden Center Garden Center Blue Rhino Propane ... Propane Supplier Coinstar Bank MoneyGram Bank Walmart Business Center Tech Support Center

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Westfair Shopping Center — Lee Hwy, Fairfax, VA 22030
    • Jermantown Square — 11180-11218 Lee Hwy, Fairfax, VA 22030
    • Hilltop Shopping Center — 11102 Lee Hwy, Fairfax, VA 22030
    • Fairfax Pointe — 10955 Fairfax Blvd, Fairfax, VA 22030
    • Fairfax Centre — 11211 US-29, Fairfax, VA 22030

    Location Insight

    • Map
    • Local Demand
    City
    Fairfax
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.3321548
    Latitude
    38.8499946

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    FAQs

    What type of property is this?
    Shopping center - Retail and dining options with high traffic and local population.
    Where is this shopping center located?
    The property is located at 11181 11199A-11199E 11211-11219 Lee Highway Fairfax, VA.
    What are key features of this property?
    This property features: High visibility location at the corner of Route 29 (Lee Highway) and Jermantown Road.; Daily traffic count of 41,000 cars.; Access to Route 50.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Arthur Matarazzo
    Arthur Matarazzo
    Real Estate License ID: VA
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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