Upscale Office Condominiums in Great
For Sale
$650,000
1146 Walker Rd #g&h, Great Falls, VA 22066
Professional office condos in desirable location, flexible for owner-user.
Property Size1,250 SF
Price / SF$520
Days on Market148
Property Features for 1146 Walker Rd #g&h
General Information
Standard status
Active
Size
1,250 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,052
Building Details
Year Built
1986
Listing Agency:
SAMSON PROPERTIES
(703) 378-8810
Listed By:
BONNIE H WOLFE · License #0225078568
Source:
Corcoran
Added: Mar 15
Changed: Aug 8
Last Checked: Aug 8 at 6:26AM
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.
Located in the Leigh Corners Office Park in Great Falls, these upscale professional office condominiums offer flexibility for an owner-user, investor, or combination of both. Units G and H are positioned across the hall from one another and connected by a shared interior corridor, allowing the spaces to function independently or be combined into a larger single suite. Each unit also has its own private entrance. The corridor has modern entry doors, professional paint, natural light from skylights and windows, entrances at both ends, and curated wall art. Unit H, approximately 1,250 square feet and fully leased, was renovated in 2022 and is configured as two separate suites, H-1 and H-2, accessed from the shared corridor. The interiors feature laminate flooring, recessed lighting, and high ceilings. Suite H-1 offers four windowed offices and a generous open sitting area, while Suite H-2 includes two windowed offices. A common restroom is located in the corridor. Unit G, approximately 1,100 square feet and vacant, has a double entry door, three spacious windowed private offices, a reception area, and a central hallway with space for filing or additional storage. Large windows and multiple skylights create a bright work environment, complemented by wood flooring. Additional features include a restroom with vanity and a utility room with janitor sink and storage. Building signage availability along with monument signage at the main entrance is available. Ample free parking is available. The property is located minutes from the Great Falls Village Centre and nearby amenities including Safeway, Starbucks, restaurants, banks, the post office, and the Great Falls Library. Great Falls is positioned between Tysons and Reston, with access to Dulles International Airport, the Silver Line Metro, and I-495.
Key Highlights
- Flexible configuration: Units can function independently or be combined.
- High‑quality interior finishes and abundant natural light.
- Prime location in desirable Leigh Corners Office Park with excellent access to Route 7 and nearby amenities.
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
$23,662
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
3.64%
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%
$473,240
$473.2K
Cap Rate 7%
$338,029
$338.0K
Cap Rate 9%
$262,911
$262.9K
Market Conditions
NOI Build-Up for 1,250 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
$36.9K $29.52/SF
− Vacancy
−$5.4K −$4.28/SF
EGI
$31.5K $25.24/SF
− OpEx
−$7.9K −$6.31/SF
NOI
$23.7K $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%
$473,240
Cap Rate 7%
$338,029
Cap Rate 9%
$262,911
Alternative Uses
Best Use
Office B
$338.0K
$295.8K – $394.4K
NOI $23,662 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.24M
$4.58M – $6.11M
NOI $366,778 @ 7.0% cap · market cap 56.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
227
Businesses Nearby
Explore this area
Business Placement
Demographics for 22066, VA
18,165
Population
5,852
Households
3.1
Avg Household Size
45
Median Age
85%
College-Educated
99%
High-School Grad
25.6 sq mi
ZIP Area
710
Density / Sq Mi
$250,001
Median Household Income
$123,162
Median Earnings
$3,501
Median Rent
$1,240,100
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 - Professional office condos in desirable location, flexible for owner-user.
Where is this office units located?
The property is located at 1146 Walker Rd #g&h Great Falls, VA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Flexible configuration: Units can function independently or be combined.; High‑quality interior finishes and abundant natural light.; Prime location in desirable Leigh Corners Office Park with excellent access to Route 7 and nearby amenities.
