Combined Office Condo
New
For Sale
$2,900,000
1265812660 LAKE RIDGE DRIVE, Woodbridge, VA 22192
Four adjoining condominium units form a flexible professional office with on-site parking and access to established business corridors.
Property Size11,510 SF
Price / SF$251.95
Days on Market6
Property Features for 1265812660 LAKE RIDGE DRIVE
General Information
Standard status
Active
Size
11,510 SF
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,716
Amenities
Central Air
3
Parking.
Unassigned, Lot.
Building Details
Year Built
1985
Owner Occupied
Yes
Listing Agency:
Weber Rector Commerical Real Estate Services, Inc.
Listed By:
Coleman Rector · License ##0225183392
(703) 330-1224
Source:
Xome
Added: Aug 31
Changed: Sep 4
Last Checked: Sep 4 at 2:15PM
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 condominium comprises four contiguous units combined into a cohesive suite of approximately 11,510 SF. The unified layout is configured for professional, medical, or service-oriented operations and includes central air. Condominium ownership provides a single larger workspace while retaining the structure of individually defined units. The property was built in 1985 and includes on-site parking in an unassigned lot.
Located along Lake Ridge Drive within the Lake Ridge business corridor, the suite connects with Old Bridge Road, Minnieville Road, and I-95. The surrounding area includes residential neighborhoods, retail centers, restaurants, and everyday services. An investor purchase can include a seller leaseback structured for three years, while an owner-user can occupy the premises following the sale.
Located along Lake Ridge Drive within the Lake Ridge business corridor, the suite connects with Old Bridge Road, Minnieville Road, and I-95. The surrounding area includes residential neighborhoods, retail centers, restaurants, and everyday services. An investor purchase can include a seller leaseback structured for three years, while an owner-user can occupy the premises following the sale.
Key Highlights
- Approximately 11,510 SF across four contiguous office condo units
- Central air and a unified floor plan for professional, medical, or service‑oriented users
- On‑site parking in an unassigned lot
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
Lease Details
Yes
Highway access
Yes
Paved road access
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 - Four adjoining condominium units form a flexible professional office with on-site parking and access to established business corridors.
Where is this office units located?
The property is located at 1265812660 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: Approximately 11,510 SF across four contiguous office condo units; Central air and a unified floor plan for professional, medical, or service‑oriented users; On‑site parking in an unassigned lot
