Two-Level Office
For Sale
$510,000
7006 EVERGREEN CT #3 3, Annandale, VA 22003
Professional space with restrooms on both floors, an atrium entry, and recent exterior improvements.
Property Size1,885 SF
Price / SF$270.56
Days on Market45
Property Features for 7006 EVERGREEN CT #3 3
General Information
Standard status
Active
Size
1,885 SF
Building Details
Stories
2
Listing Agency:
Fairfax Realty
(703) 766-2710
Listed By:
Young H Lee Hwang · License #0225083501
(703) 989-4301
Source:
Towncentermd
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 31 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 Fairfax Realty
Investment Insights
Based on property information with market context.
This 1,885-square-foot office unit occupies two levels at 7006 Evergreen Ct #3 in Annandale. An atrium-style entrance opens to bright office areas, with bathrooms provided on each floor. Recent property improvements include a new roof and refreshed exterior paint.
The office is situated inside the Beltway between Columbia Pike and Little River Turnpike, providing a defined location within the Annandale area. Its two-level layout, separate restroom access, and updated exterior elements support continued professional office use.
The office is situated inside the Beltway between Columbia Pike and Little River Turnpike, providing a defined location within the Annandale area. Its two-level layout, separate restroom access, and updated exterior elements support continued professional office use.
Key Highlights
- 1,885 square feet of office space
- Two‑level office layout with bathrooms on each floor
- Atrium entry leading into bright office areas
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
$35,682
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%
$713,640
$713.6K
Cap Rate 7%
$509,743
$509.7K
Cap Rate 9%
$396,467
$396.5K
Market Conditions
NOI Build-Up for 1,885 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
$55.6K $29.52/SF
− Vacancy
−$8.1K −$4.28/SF
EGI
$47.6K $25.24/SF
− OpEx
−$11.9K −$6.31/SF
NOI
$35.7K $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%
$713,640
Cap Rate 7%
$509,743
Cap Rate 9%
$396,467
Alternative Uses
Best Use
Office B
$509.7K
$446.0K – $594.7K
NOI $35,682 @ 7.0% cap · market cap 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.90M
$6.91M – $9.22M
NOI $553,101 @ 7.0% cap · market cap 108.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
153
Businesses Nearby
Explore this area
Business Placement
Demographics for 22003, VA
59,372
Population
19,497
Households
3
Avg Household Size
39
Median Age
51%
College-Educated
87%
High-School Grad
12.6 sq mi
ZIP Area
4,712
Density / Sq Mi
$134,109
Median Household Income
$54,906
Median Earnings
$1,988
Median Rent
$694,300
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 space with restrooms on both floors, an atrium entry, and recent exterior improvements.
Where is this office units located?
The property is located at 7006 EVERGREEN CT #3 3 Annandale, VA.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: 1,885 square feet of office space; Two‑level office layout with bathrooms on each floor; Atrium entry leading into bright office areas
