Plug-and-Play Medical Office
For Sale
$821,000
108 Elden Street #15C & 16, Herndon, VA 20170
Renovated suite with dedicated gym and treatment rooms, offering convenient access for healthcare and related office users.
Property Size2,940 SF
Days on Market90
Property Features for 108 Elden Street #15C & 16
General Information
Standard status
Active
Size
2,940 SF
Class
A
Property subtype
Office
Additional Details
Highway Access
Yes
Building Details
Building Size
2,940 SF
Listing Agency:
Divaris Real Estate | Washington DC
(703) 861-0373
Listed By:
Erik Ulsaker · License #SP98377091
Source:
Divaris
Added: Jun 2
Changed: Aug 12
Last Checked: Aug 29 at 8:38AM
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 Divaris Real Estate | Washington DC
Investment Insights
Based on property information with market context.
108 Elden Street #15C & 16 is a fully renovated, plug-and-play medical office suite within Stuart Professional Village. The space is set up for patient flow with a reception and waiting area, supported by additional treatment rooms for care. A large gym space is included, making the layout well suited to rehab-focused programming and other therapy-related uses.
The property offers easy access to both Fairfax County Parkway and the Dulles Toll Road, supporting convenient arrivals for patients, staff, and visitors. It is located less than 0.5 miles from Reston Hospital, and the professional village setting includes an abundant on-site parking lot with free surface spaces.
For buyers or operators seeking a ready-to-use healthcare environment, this suite provides an efficient mix of front-of-house patient areas, clinical rooms, and on-site exercise space. The maintained condition and functional configuration can help reduce downtime for an established practice or an organization expanding into a hospital-adjacent location.
The property offers easy access to both Fairfax County Parkway and the Dulles Toll Road, supporting convenient arrivals for patients, staff, and visitors. It is located less than 0.5 miles from Reston Hospital, and the professional village setting includes an abundant on-site parking lot with free surface spaces.
For buyers or operators seeking a ready-to-use healthcare environment, this suite provides an efficient mix of front-of-house patient areas, clinical rooms, and on-site exercise space. The maintained condition and functional configuration can help reduce downtime for an established practice or an organization expanding into a hospital-adjacent location.
Key Highlights
- Fully renovated, plug‑and‑play PT office suite with dedicated gym space
- Includes reception and waiting area, plus additional treatment rooms for patient care
- On‑site parking lot with free surface spaces
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
$55,653
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
6.78%
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%
$1,113,060
$1.1M
Cap Rate 7%
$795,043
$795.0K
Cap Rate 9%
$618,367
$618.4K
Market Conditions
NOI Build-Up for 2,940 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
$86.8K $29.52/SF
− Vacancy
−$12.6K −$4.28/SF
EGI
$74.2K $25.24/SF
− OpEx
−$18.6K −$6.31/SF
NOI
$55.7K $18.93/SF
Area
Loudoun 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%
$1,113,060
Cap Rate 7%
$795,043
Cap Rate 9%
$618,367
Alternative Uses
Best Use
Office B
$795.0K
$695.7K – $927.6K
NOI $55,653 @ 7.0% cap · market cap 6.78%
Second Best
Healthcare Medical
$782.4K
$684.6K – $912.8K
NOI $54,765 @ 7.0% cap · market cap 6.67%
Theoretical Best
Specialty Retail
$921.4K
$806.2K – $1.07M
NOI $64,496 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 20170, VA
42,756
Population
14,084
Households
3
Avg Household Size
36
Median Age
57%
College-Educated
87%
High-School Grad
8.8 sq mi
ZIP Area
4,859
Density / Sq Mi
$157,875
Median Household Income
$59,119
Median Earnings
$2,224
Median Rent
$625,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Dominion Animal Hospital — 795 Station St, Herndon, VA 20170
- Boone James C DVM — 795 Station St, Herndon, VA 20170
- Anita C. Wallace, DVM — 795 Station St, Herndon, VA 20170, United States
- Bourke Joseph a DVM — 795 Station St, Herndon, VA 20170, United States
Frequently Asked Questions
What type of property is this?
Medical Office Space - Renovated suite with dedicated gym and treatment rooms, offering convenient access for healthcare and related office users.
Where is this medical office space located?
The property is located at 108 Elden Street #15C & 16 Herndon, VA.
What is the asking price?
The asking price for this property is $821,000.
What are key features of this property?
This property features: Fully renovated, plug‑and‑play PT office suite with dedicated gym space; Includes reception and waiting area, plus additional treatment rooms for patient care; On‑site parking lot with free surface spaces
