Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    2721 Prosperity Ave Fairfax, VA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Flex/industrial space in Fairfax, near Dunn Loring metro.

    Type:FLEX_R_AND_D
    Property size:
    5,870 SF
    Lot size:
    1.37 Acres
    Added:
    Dec 15, 2023
    Days on Market:
    873
    Last Refresh:
    Apr 5 at 10:12 pm

    Property Features for 2721 Prosperity Ave

    General Information

    Standard status
    Active
    Size
    5,870 SF
    Lot size
    1.37 Acres
    Property subtype
    FLEX_R_AND_D

    Spaces For Lease

    at 2721 Prosperity Ave Contact us

    We can help!

    Listing Contact
    Jonathan Hunolt
    Jonathan Hunolt

    Listing agent Jonathan Hunolt

    Listing office Link Logistics - Corporate

    Listing date Dec 15, 2023

    Source Moodyscre

    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 Link Logistics - Corporate

    HighLights

    • Walking distance to the Dunn Loring metro station.
    • Located in the heart of Fairfax.
    • Part of Prosperity at Merrifield, a 12‑building business park.
    • Offers both office and warehouse space.
    • Total commercial real estate space of over 658,000 SF.
    • Prestigious Fairfax location.

    Overview

    Fairfax Flex/Industrial Space Available

    This flex/industrial property offers 5,870 square feet of space. It is located within Prosperity at Merrifield, a 12-building business park in Fairfax. The location is within walking distance of the Dunn Loring metro station. The business park offers more than 658,000 square feet of commercial real estate space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    US21 Inc General Contractor Leading Systems Technology Laboratory

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Lawsons Catering — 2930 Prosperity Ave, Fairfax, VA 22031
    • RSVP Catering — 2930 Prosperity Ave, Fairfax, VA 22031
    • La Prima Catering Fairfax — 8424 Lee Hwy, Fairfax, VA 22031

    Location Insight

    • Map
    • Local Demand
    City
    Fairfax
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.2355
    Latitude
    38.8784

    Nearby Similar for Lease

    • $2,000/Mo

      Fairfax Office Space For Rent

      Office space in prime Fairfax location near I-66 and Route 50.
      3607 CHAIN BRIDGE Road, FAIRFAX, VA 22030
      View Details
    • $4,500/Mo

      Move-in Ready Fairfax Office Suite

      First-floor office suite with abundant natural light and flexible layout.
      3930 PENDER Drive, FAIRFAX, VA 22030
      View Details
    • $10,500/Mo

      Fairfax Commercial Space with Flexibility

      Versatile 3,200 SF commercial space suitable for various uses.
      10614 WARWICK Avenue, FAIRFAX, VA 22030
      View Details
    • $2,800/Mo

      Fairfax Office Space for Rent

      Newly renovated office space available in Fairfax, Virginia.
      10509 BRADDOCK Road, FAIRFAX, VA 22032
      View Details
    • $1,000/Mo

      Renovated Office Space in Fairfax

      Upscale, modern, shared office space in a prime location.
      3911 BLENHEIM Boulevard, FAIRFAX, VA 22030
      View Details
    • $2,300/Mo

      Fairfax Plaza Office Space

      Office space for lease in Fairfax, Route 50 adjacent.
      9506-B LEE Highway, FAIRFAX, VA 22031
      View Details
    • Contact for pricing

      Fairfax Dental Office with Flexibility

      Dental office suite with flexible use potential in Fairfax.
      10614 WARWICK Ave A, Fairfax, VA 22030
      View Details
    • $750/Mo

      Private Office Suites For Lease

      Private office suites available for lease in Fairfax, Virginia.
      4015 CHAIN BRIDGE Rd SUITES D/31/38, Fairfax, VA 22030
      View Details
    • Contact for pricing

      Fairfax City Ground Level Office

      Office condo in Fairfax City near transit, restaurants, and parks.
      10195 MAIN St T, Fairfax, VA 22031
      View Details
    • Sponsored
      Contact for pricing

      Willow Oaks II

      8280 Willow Oaks Corporate Dr, Unit 600, Fairfax, VA 22031
      View Details
    • Sponsored
      Contact for pricing

      VA, Fairfax - Judicial Dr

      10505 Judicial Dr, Fairfax, VA 22030
      View Details
    • $1,976/Mo

      Fairfax City Ground Level Office

      Office condo in Fairfax City, move-in ready with parking.
      10195 Main St #t, FAIRFAX, VA 22031
      View Details

    FAQs

    What type of property is this?
    Flex space - Flex/industrial space in Fairfax, near Dunn Loring metro.
    Where is this flex space located?
    The property is located at 2721 Prosperity Ave Fairfax, VA.
    What are key features of this property?
    This property features: Walking distance to the Dunn Loring metro station.; Located in the heart of Fairfax.; Part of Prosperity at Merrifield, a 12‑building business park.
    (212) 297-1000 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jonathan Hunolt
    Jonathan Hunolt
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2721 Prosperity Ave, Fairfax, VA
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!