Second-Floor Office
For Sale
$413,367
8136 OLD KEENE MILL ROAD Unit A209, Springfield, VA 22152
Office suite with private rooms, a conference area, waiting space, and kitchenette near the elevator.
Property Size1,821 SF
Days on Market515
Property Features for 8136 OLD KEENE MILL ROAD Unit A209
General Information
Standard status
Active
Size
1,821 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$4,698
Building Details
Building Size
1,821 SF
Year Built
1972
Listing Agency:
Wellborn Management Co., Inc.
(703) 464-7009
Listed By:
Vincent L Alexander · License #0225076619
(703) 464-7009
Source:
Dcmetrorealtyteam
Added: Apr 3, 2025
Changed: Aug 28
Last Checked: Aug 29 at 4:53PM
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 Wellborn Management Co., Inc.
Investment Insights
Based on property information with market context.
This second-floor office unit at 8136 Old Keene Mill Road includes multiple private offices, a large conference room, an open waiting area, and a kitchenette. The suite is positioned directly off the elevator and can support medical, office, or general office use.
The property was built in 1972 and is identified as suite A209 in Springfield, Virginia. Its combination of enclosed offices, shared gathering space, reception or waiting space, and kitchenette provides a functional layout for professional operations.
The property was built in 1972 and is identified as suite A209 in Springfield, Virginia. Its combination of enclosed offices, shared gathering space, reception or waiting space, and kitchenette provides a functional layout for professional operations.
Key Highlights
- 1,872 SF of second‑floor office space
- Multiple private offices and a large conference room
- Large open waiting area
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
$34,471
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
8.34%
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%
$689,420
$689.4K
Cap Rate 7%
$492,443
$492.4K
Cap Rate 9%
$383,011
$383.0K
Market Conditions
NOI Build-Up for 1,821 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
$53.8K $29.52/SF
− Vacancy
−$7.8K −$4.28/SF
EGI
$46.0K $25.24/SF
− OpEx
−$11.5K −$6.31/SF
NOI
$34.5K $18.93/SF
Area
Fairfax 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%
$689,420
Cap Rate 7%
$492,443
Cap Rate 9%
$383,011
Alternative Uses
Best Use
Office B
$492.4K
$430.9K – $574.5K
NOI $34,471 @ 7.0% cap · market cap 8.34%
Second Best
Healthcare Medical
$474.0K
$414.8K – $553.0K
NOI $33,182 @ 7.0% cap · market cap 8.03%
Theoretical Best
Specialty Retail
$7.63M
$6.68M – $8.91M
NOI $534,322 @ 7.0% cap · market cap 129.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
803
Businesses Nearby
Explore this area
Business Placement
Demographics for 22152, VA
29,843
Population
9,779
Households
3.1
Avg Household Size
40
Median Age
64%
College-Educated
94%
High-School Grad
6.0 sq mi
ZIP Area
4,974
Density / Sq Mi
$159,557
Median Household Income
$73,552
Median Earnings
$2,495
Median Rent
$620,200
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 - Office suite with private rooms, a conference area, waiting space, and kitchenette near the elevator.
Where is this office units located?
The property is located at 8136 OLD KEENE MILL ROAD Unit A209 Springfield, VA.
What is the asking price?
The asking price for this property is $413,367.
What are key features of this property?
This property features: 1,872 SF of second‑floor office space; Multiple private offices and a large conference room; Large open waiting area
