One-Bedroom
For Sale
$219,000
1504 LINCOLN WAY Unit 108, Mc Lean, VA 22102
Vacant residence in a secured community with a private patio, covered-garage parking, and shared amenities.
Property Size626 SF
Price / SF$349.84
Days on Market107
Property Features for 1504 LINCOLN WAY Unit 108
General Information
Standard status
Active
Size
626 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,044
Amenities
outdoor patio space
pool
sauna
gym
community areas
car wash area with vacuum
Building Details
Building Size
626 SF
Year Built
1988
Listing Agency:
Goldberg Group Real Estate
Listed By:
David S. Goldberg · License #0225277254
(301) 233-6501
Source:
Jackrealtygroup
Added: Jul 19
Changed: Oct 27
Last Checked: Oct 31 at 7:54PM
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 Goldberg Group Real Estate
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Investment Insights
Based on property information with market context.
This 626-square-foot condominium in McLean was built in 1988 and has one bedroom and one bathroom. The unit includes outdoor patio space and one parking space in a covered garage. It is currently vacant.
Community amenities include a pool, sauna, gym, shared areas, and a car-wash area with a vacuum. Tysons Corner and food options are noted nearby.
Community amenities include a pool, sauna, gym, shared areas, and a car-wash area with a vacuum. Tysons Corner and food options are noted nearby.
Key Highlights
- 626‑square‑foot condominium with one bedroom and one bathroom
- Vacant unit with outdoor patio space
- One parking space in a covered garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,370
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$187,400
$187.4K
Cap Rate 7%
$133,857
$133.9K
Cap Rate 9%
$104,111
$104.1K
Market Conditions
NOI Build-Up for 626 SF
Gross rent
$18.0K $28.80/SF
− Vacancy
−$992 −$1.58/SF
EGI
$17.0K $27.22/SF
− OpEx
−$7.7K −$12.25/SF
NOI
$9.4K $14.97/SF
Area
Fairfax County, VA
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$187,400
Cap Rate 7%
$133,857
Cap Rate 9%
$104,111
Alternative Uses
Best Use
Apartment 5plus
$133.9K
$117.1K – $156.2K
NOI $9,370 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.62M
$2.30M – $3.06M
NOI $183,682 @ 7.0% cap · market cap 83.87%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,652
Businesses Nearby
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Business Placement
Demographics for 22102, VA
27,743
Population
14,274
Households
1.9
Avg Household Size
37
Median Age
81%
College-Educated
99%
High-School Grad
12.3 sq mi
ZIP Area
2,256
Density / Sq Mi
$153,816
Median Household Income
$93,200
Median Earnings
$2,471
Median Rent
$1,003,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Vacant residence in a secured community with a private patio, covered-garage parking, and shared amenities.
Where is this residential income property located?
The property is located at 1504 LINCOLN WAY Unit 108 Mc Lean, VA.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: 626‑square‑foot condominium with one bedroom and one bathroom; Vacant unit with outdoor patio space; One parking space in a covered garage
