Office Unit in Established
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12604 Lake Ridge Dr, Woodbridge, VA 22192
Professional office condominium setting with access to major commuter routes and on-site parking.
Property Size2,400 SF
Price / SF$240
Days on Market131
Property Features for 12604 Lake Ridge Dr
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Office
Listing Agency:
Boosalis Properties
Listed By:
George Boosalis · License #VA 0225205187
Source:
Crexi
Added: Apr 23
Changed: Aug 30
Last Checked: Aug 30 at 6:29AM
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 Boosalis Properties
Investment Insights
Based on property information with market context.
This 2,400-square-foot office unit is located within an established office park at 12604 Lake Ridge Drive. The property is positioned for professional and medical office use, with on-site parking and a maintained commercial setting. Its configuration is suited to office operations requiring a dedicated condominium unit.
Access includes Old Bridge Road, Interstate 95, and other major commuter routes serving Northern Virginia. The surrounding area includes dense residential communities, shopping centers, dining, and everyday services, placing the property within an established local service environment.
Access includes Old Bridge Road, Interstate 95, and other major commuter routes serving Northern Virginia. The surrounding area includes dense residential communities, shopping centers, dining, and everyday services, placing the property within an established local service environment.
Key Highlights
- 2,400 SF office unit in an established office park
- Located at 12604 Lake Ridge Drive, Woodbridge, Virginia 22192
- On‑site parking included
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
$42,323
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
7.35%
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%
$846,460
$846.5K
Cap Rate 7%
$604,614
$604.6K
Cap Rate 9%
$470,256
$470.3K
Market Conditions
NOI Build-Up for 2,400 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
$58.2K $24.24/SF
− Vacancy
−$1.7K −$0.73/SF
EGI
$56.4K $23.51/SF
− OpEx
−$14.1K −$5.88/SF
NOI
$42.3K $17.63/SF
Area
Prince William County, VA
Vacancy
3.00%
Lease Rate
$24.24 /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%
$846,460
Cap Rate 7%
$604,614
Cap Rate 9%
$470,256
Alternative Uses
Best Use
Office B
$604.6K
$529.0K – $705.4K
NOI $42,323 @ 7.0% cap · market cap 7.35%
Second Best
Healthcare Medical
$524.2K
$458.6K – $611.5K
NOI $36,691 @ 7.0% cap · market cap 6.37%
Theoretical Best
Specialty Retail
$704.8K
$616.7K – $822.3K
NOI $49,339 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
889
Businesses Nearby
Explore this area
Business Placement
Demographics for 22192, VA
60,299
Population
21,290
Households
2.8
Avg Household Size
37
Median Age
49%
College-Educated
92%
High-School Grad
19.2 sq mi
ZIP Area
3,141
Density / Sq Mi
$122,005
Median Household Income
$60,918
Median Earnings
$2,012
Median Rent
$465,500
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 condominium setting with access to major commuter routes and on-site parking.
Where is this office units located?
The property is located at 12604 Lake Ridge Dr Woodbridge, VA.
What is the asking price?
The asking price for this property is $576,000.
What are key features of this property?
This property features: 2,400 SF office unit in an established office park; Located at 12604 Lake Ridge Drive, Woodbridge, Virginia 22192; On‑site parking included
