Connected Office Condominium
New
For Sale
$699,000
1146 WALKER ROAD G&H, Great Falls, VA 22066
Bright professional suites offer private entrances and flexible separate or combined operation.
Property Size2,600 SF
Price / SF$268.85
Days on Market4
Property Features for 1146 WALKER ROAD G&H
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Office Units
2
Taxes and HOA fees
Annual Taxes
$10,052
Amenities
building signage
Building Details
Building Size
2,600 SF
Year Built
1986
Tenancy
Multi
Listing Agency:
Samson Properties
(703) 930-5692
Listed By:
Bonnie H Wolfe · License #0225078568
(703) 930-5692
Source:
Kerishull
Added: Aug 8
Changed: Aug 10
Last Checked: Aug 10 at 10:07AM
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.
Units G and H comprise approximately 2,600 square feet of office condominium space at Leigh Corners Office Park. Positioned across the hall and linked by an interior corridor, the units can operate separately or together. Each has a private entrance, while Unit H is divided into suites H-1 and H-2 and is fully leased. Unit G is vacant and includes three windowed offices, reception space, a central hallway, restroom, and utility room. Shared and interior features include skylights, abundant windows, high ceilings, recessed lighting, and finished flooring. Unit H was renovated in 2022 and contains four windowed offices in H-1 and two in H-2, along with a common corridor restroom.
Built in 1986, the property provides building and monument signage, free parking, and professionally managed common areas. The office park is accessible from Route 7/Leesburg Pike through two access points and is minutes from Great Falls Village Centre, Safeway, Starbucks, restaurants, banks, the post office, and the Great Falls Library. Units may be purchased together, or Unit G may be acquired separately.
Built in 1986, the property provides building and monument signage, free parking, and professionally managed common areas. The office park is accessible from Route 7/Leesburg Pike through two access points and is minutes from Great Falls Village Centre, Safeway, Starbucks, restaurants, banks, the post office, and the Great Falls Library. Units may be purchased together, or Unit G may be acquired separately.
Key Highlights
- Approximately 2,600 SF across Units G and H
- Unit H: approximately 1,350 SF, fully leased, and renovated in 2022
- Unit G: approximately 1,250 SF and vacant
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
$49,217
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
7.04%
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%
$984,340
$984.3K
Cap Rate 7%
$703,100
$703.1K
Cap Rate 9%
$546,856
$546.9K
Market Conditions
NOI Build-Up for 2,600 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
$76.8K $29.52/SF
− Vacancy
−$11.1K −$4.28/SF
EGI
$65.6K $25.24/SF
− OpEx
−$16.4K −$6.31/SF
NOI
$49.2K $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%
$984,340
Cap Rate 7%
$703,100
Cap Rate 9%
$546,856
Alternative Uses
Best Use
Office B
$703.1K
$615.2K – $820.3K
NOI $49,217 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$10.90M
$9.54M – $12.71M
NOI $762,899 @ 7.0% cap · market cap 109.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
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 - Bright professional suites offer private entrances and flexible separate or combined operation.
Where is this office units located?
The property is located at 1146 WALKER ROAD G&H Great Falls, VA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Approximately 2,600 SF across Units G and H; Unit H: approximately 1,350 SF, fully leased, and renovated in 2022; Unit G: approximately 1,250 SF and vacant
