Flex Space with
For Sale
$1,399,900
14004 WILLARD ROAD, Chantilly, VA 20151
Multi-unit industrial property combining office, showroom, and warehouse functionality with owner-user and leasing flexibility.
Property Size8,872 SF
Price / SF$157.79
Days on Market196
Property Features for 14004 WILLARD ROAD
General Information
Standard status
Active
Size
8,872 SF
Property subtype
Industrial
Zoning
I-5
Warehouse & Industrial
Warehouse Space
4,400 SF
Drive-In Doors
1
Additional Details
Asking Price
$1,399,900
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$12,464
Amenities
Central Air
3
Parking.
Lot.
Building Details
Year Built
1985
Listing Agency:
Pacific Realty
(703) 266-3828
Listed By:
Choong Paik
(703) 870-1844
Source:
Xome
Added: Feb 19
Changed: Sep 2
Last Checked: Sep 2 at 2:16PM
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 Pacific Realty
Investment Insights
Based on property information with market context.
This flex industrial property comprises approximately 8,872 SF across two condominium units configured as three functional units. The layout combines office, showroom, and industrial areas, including approximately 4,400 SF of warehouse or light industrial space. Unit P provides high-clearance warehouse space and a 12-foot drive-in door, while Unit N is scheduled for vacant delivery. Unit O is leased and contributes existing occupancy.
Located in a multi-business complex in Chantilly, the property is zoned I-5 Industrial and supports industrial, contractor, showroom, logistics, assembly, and light manufacturing uses. The site includes free surface parking with designated spaces and offers access to Route 50, Route 28, I-66, and Route 267. Dulles International Airport and major retail amenities are minutes away.
Located in a multi-business complex in Chantilly, the property is zoned I-5 Industrial and supports industrial, contractor, showroom, logistics, assembly, and light manufacturing uses. The site includes free surface parking with designated spaces and offers access to Route 50, Route 28, I-66, and Route 267. Dulles International Airport and major retail amenities are minutes away.
Key Highlights
- Approximately 8,872 SF flex industrial property configured as three functional units
- Approximately 4,400 SF warehouse/light industrial area with office and showroom space
- Unit P includes high‑clearance warehouse space and a 12‑foot drive‑in door
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
$69,709
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
4.98%
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%
$1,394,180
$1.4M
Cap Rate 7%
$995,843
$995.8K
Cap Rate 9%
$774,544
$774.5K
Market Conditions
NOI Build-Up for 8,872 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
$86.2K $9.72/SF
− Vacancy
−$4.2K −$0.48/SF
EGI
$82.0K $9.24/SF
− OpEx
−$12.3K −$1.39/SF
NOI
$69.7K $7.86/SF
Area
Loudoun County, VA
Vacancy
4.90%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
15.00%
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%
$1,394,180
Cap Rate 7%
$995,843
Cap Rate 9%
$774,544
Alternative Uses
Best Use
Office B
$2.40M
$2.10M – $2.80M
NOI $167,944 @ 7.0% cap · market cap 12.00%
Second Best
Flex RnD
$1.88M
$1.65M – $2.19M
NOI $131,621 @ 7.0% cap · market cap 9.40%
Theoretical Best
Specialty Retail
$2.78M
$2.43M – $3.24M
NOI $194,630 @ 7.0% cap · market cap 13.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,041
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 20151, VA
22,653
Population
6,966
Households
3.3
Avg Household Size
39
Median Age
57%
College-Educated
91%
High-School Grad
15.9 sq mi
ZIP Area
1,425
Density / Sq Mi
$143,422
Median Household Income
$64,002
Median Earnings
$2,245
Median Rent
$647,400
Median Home Value
Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
- Wegmans Catering — 14361 Newbrook Dr, Chantilly, VA 20151
- Fahmida Caitring — 13943 Rockland Village Dr, Chantilly, VA 20151
- Rudy's Inflight Catering Inc — 14303 Sullyfield Cir, Chantilly, VA 20151
Frequently Asked Questions
What type of property is this?
Flex space - Multi-unit industrial property combining office, showroom, and warehouse functionality with owner-user and leasing flexibility.
Where is this flex space located?
The property is located at 14004 WILLARD ROAD Chantilly, VA.
What is the asking price?
The asking price for this property is $1,399,900.
What are key features of this property?
This property features: Approximately 8,872 SF flex industrial property configured as three functional units; Approximately 4,400 SF warehouse/light industrial area with office and showroom space; Unit P includes high‑clearance warehouse space and a 12‑foot drive‑in door
