Four-Unit Office Condo
New
For Sale
$2,900,000
12658-12660 Lake Ridge Drive, Woodbridge, VA 22192
Unified condominium layout supports professional, medical, and service-oriented office uses.
Property Size11,510 SF
Price / SF$251.95
Days on Market2
Property Features for 12658-12660 Lake Ridge Drive
General Information
Standard status
Active
Size
11,510 SF
Class
B
Property subtype
Office
Building Details
Building Size
11,510 SF
Listing Agency:
WEBER RECTOR COMMERICAL REAL ESTATE SERVICES, INC.
Listed By:
Coleman Rector · License #VA #0225183392
(703) 929-0123
Source:
Weberrector
Added: Sep 4
Last Checked: Sep 5 at 4:11AM
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 WEBER RECTOR COMMERICAL REAL ESTATE SERVICES, INC.
Investment Insights
Based on property information with market context.
This office property combines four contiguous condominium units into a single suite measuring approximately 11,510 square feet. The consolidated layout provides the scale and internal flexibility of a larger workplace while maintaining condominium ownership, making it suitable for professional, medical, and service-oriented users.
The property is part of an established professional office community at 12658-12660 Lake Ridge Drive in Woodbridge, Virginia. Ample on-site parking and a business-oriented setting add practical support for daily operations and visitor access.
The property is part of an established professional office community at 12658-12660 Lake Ridge Drive in Woodbridge, Virginia. Ample on-site parking and a business-oriented setting add practical support for daily operations and visitor access.
Key Highlights
- Approx. 11,510 SF of combined office space
- Four adjoining office condominium units configured as one suite
- Condominium ownership with a unified office layout
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
$202,974
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
7.00%
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%
$4,059,480
$4.1M
Cap Rate 7%
$2,899,629
$2.9M
Cap Rate 9%
$2,255,267
$2.3M
Market Conditions
NOI Build-Up for 11,510 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
$279.0K $24.24/SF
− Vacancy
−$8.4K −$0.73/SF
EGI
$270.6K $23.51/SF
− OpEx
−$67.7K −$5.88/SF
NOI
$203.0K $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 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%
$4,059,480
Cap Rate 7%
$2,899,629
Cap Rate 9%
$2,255,267
Alternative Uses
Best Use
Office B
$2.90M
$2.54M – $3.38M
NOI $202,974 @ 7.0% cap · market cap 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.38M
$2.96M – $3.94M
NOI $236,620 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
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 - Unified condominium layout supports professional, medical, and service-oriented office uses.
Where is this office units located?
The property is located at 12658-12660 Lake Ridge Drive Woodbridge, VA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Approx. 11,510 SF of combined office space; Four adjoining office condominium units configured as one suite; Condominium ownership with a unified office layout
