Renovated Second-Floor Office
For Sale
$299,999
9315 Center St #203, Manassas, VA 20110
Professional office unit with a lobby entrance, private restroom, kitchenette, updated windows, carpet, and off-street parking.
Property Size1,390 SF
Days on Market194
Property Features for 9315 Center St #203
General Information
Standard status
Active
Size
1,390 SF
Class
C
Property subtype
Multi Tenant Office
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Floor
2
HOA Fee
$240
Amenities
Lobby Entrance
Private Restroom
Kitchenette
Building Details
Building Size
1,390 SF
Properties For Sale
at 9315 Center St #203 Contact us- Size
- 1,390 SF
- Lease Type
- Gross
9315 Center St
Listing Agency:
KW Commercial
(703) 330-2222
Listed By:
Ed Martin · License #0225075345
(703) 330-2222
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 8:10AM
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 KW Commercial
Investment Insights
Based on property information with market context.
This second-floor office condominium is located within the two-story portion of The Law Building at 9315 Center St #203. The recently renovated unit includes a lobby entrance, private restroom, kitchenette, new windows, and new carpet, providing a practical setting for a professional office user.
The property is in Old Town Manassas, across from the Judicial Cemetery, with access to Rt 28 and the 234 Bypass. It is also convenient to VRE and downtown amenities. Off-street parking is available at the building.
The property is in Old Town Manassas, across from the Judicial Cemetery, with access to Rt 28 and the 234 Bypass. It is also convenient to VRE and downtown amenities. Off-street parking is available at the building.
Key Highlights
- Recently renovated second‑floor office condominium at 9315 Center St #203
- Private restroom and kitchenette included
- New windows and carpet
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
$18,611
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
6.20%
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%
$372,220
$372.2K
Cap Rate 7%
$265,871
$265.9K
Cap Rate 9%
$206,789
$206.8K
Market Conditions
NOI Build-Up for 1,390 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
$29.0K $20.88/SF
− Vacancy
−$4.2K −$3.03/SF
EGI
$24.8K $17.85/SF
− OpEx
−$6.2K −$4.46/SF
NOI
$18.6K $13.39/SF
Area
Manassas Park County, VA
Vacancy
14.50%
Lease Rate
$20.88 /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%
$372,220
Cap Rate 7%
$265,871
Cap Rate 9%
$206,789
Alternative Uses
Best Use
Office B
$265.9K
$232.6K – $310.2K
NOI $18,611 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$772.0K
$675.5K – $900.7K
NOI $54,043 @ 7.0% cap · market cap 18.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,332
Businesses Nearby
Explore this area
Business Placement
Demographics for 20110, VA
49,120
Population
16,289
Households
3
Avg Household Size
35
Median Age
34%
College-Educated
82%
High-School Grad
12.8 sq mi
ZIP Area
3,838
Density / Sq Mi
$120,397
Median Household Income
$53,126
Median Earnings
$1,863
Median Rent
$445,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Professional office unit with a lobby entrance, private restroom, kitchenette, updated windows, carpet, and off-street parking.
Where is this office units located?
The property is located at 9315 Center St #203 Manassas, VA.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: Recently renovated second‑floor office condominium at 9315 Center St #203; Private restroom and kitchenette included; New windows and carpet
