Connected Office Condo
12650 LAKE RIDGE DRIVE Unit 12650, Woodbridge, VA 22192
For Sale
New
$740,000
Two adjoining units can be linked internally to create a combined office layout.
Property Size2,100 SF
Price / SF$352.38
Days on Market5
Property Features for 12650 LAKE RIDGE DRIVE Unit 12650
General Information
Standard status
Size
Property subtype
Additional Details
Office Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Ingrid E Myers · License VA #0225133546
(703) 606-5009
Source:
Kerishull
Added: Nov 9
Changed: Nov 12
Last Checked: Nov 12 at 2:28PM
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 Long & Foster Real Estate, Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Two office condominium units are positioned side by side and offer the option of an interior connection. Together, they comprise 2,100 square feet of office space.
Built in 1985, the property is located in Woodbridge, Virginia. Its configuration supports use as office space, including professional or medical office functions.
Built in 1985, the property is located in Woodbridge, Virginia. Its configuration supports use as office space, including professional or medical office functions.
Key Highlights
- Two adjoining office condominium units
- Interior connection can combine the units
- 2,100 square feet of office space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,033
Cap Rate
5.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$740,660
$740.7K
Cap Rate 7%
$529,043
$529.0K
Cap Rate 9%
$411,478
$411.5K
Market Conditions
NOI Build-Up for 2,100 SF
Gross rent
$50.9K $24.24/SF
− Vacancy
−$1.5K −$0.73/SF
EGI
$49.4K $23.51/SF
− OpEx
−$12.3K −$5.88/SF
NOI
$37.0K $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 Rate 5%
$740,660
Cap Rate 7%
$529,043
Cap Rate 9%
$411,478
Alternative Uses
Best Use
Office B
$529.0K
$462.9K – $617.2K
NOI $37,033 @ 7.0% cap · market cap 5.00%
Second Best
Healthcare Medical
$458.6K
$401.3K – $535.1K
NOI $32,105 @ 7.0% cap · market cap 4.34%
Theoretical Best
Specialty Retail
$616.7K
$539.6K – $719.5K
NOI $43,171 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
932
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
$465,500
Median Home Value
Market
Average Price Trend$/SF for Office Units in Woodbridge, VA
Properties on Market for Office Units in Woodbridge
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Two adjoining units can be linked internally to create a combined office layout.
Where is this office unit located?
The property is located at 12650 LAKE RIDGE DRIVE Unit 12650 Woodbridge, VA.
What is the asking price?
The asking price for this property is $740,000.
What are key features of this property?
This property features: Two adjoining office condominium units; Interior connection can combine the units; 2,100 square feet of office space
