Spacious Office Condo in
For Sale
$1,549,000
1964 GALLOWS Rd 210B, Vienna, VA 22182
5,146 SF office condo in the heart of Tysons Corner.
Property Size5,146 SF
Price / SF$301.01
Days on Market165
Property Features for 1964 GALLOWS Rd 210B
General Information
Standard status
Active
Size
5,146 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$17,550
Building Details
Year Built
1984
Listing Agency:
RE/MAX REAL ESTATE CONNECTIONS
(703) 622-1974
Listed By:
Zahid "Zach" Abbasi · License #0225063405
(703) 622-1974
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 21 at 8:51AM
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 RE/MAX REAL ESTATE CONNECTIONS
Investment Insights
Based on property information with market context.
This 5,146 SF office condo is located in Tysons Corner. The office suite features a modern, open floor plan suitable for general office use, professional services, medical practices, and other purposes. The space includes window-lined offices providing natural light, private offices, conference rooms, large training spaces, and a kitchen area. Double glass doors lead into a large reception area. A spacious conference room is available for meetings and presentations. The property provides dedicated garage and outdoor parking spaces, along with street parking. Transportation routes are easily accessible, including Tysons Metro Station, Dunn Loring Metro, Rt. 7, I-495, I-66, and the Dulles Toll Road. Washington, DC airports and Tysons Corner Center are nearby. The building features updated entryways, common area hallways, and bathrooms.
Key Highlights
- Prime Tysons Corner location with unbeatable access to major transportation routes (Tysons Metro, Dunn Loring Metro, Rt. 7, I‑495, I‑66, Dulles Toll Road) and proximity to Tysons Corner Center.
- Expansive 5,146 SF office suite with a modern, open floor plan suitable for various uses.
- Abundance of natural light from window‑lined offices, creating a welcoming and productive environment.
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
$97,412
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
6.29%
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%
$1,948,240
$1.9M
Cap Rate 7%
$1,391,600
$1.4M
Cap Rate 9%
$1,082,356
$1.1M
Market Conditions
NOI Build-Up for 5,146 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
$151.9K $29.52/SF
− Vacancy
−$22.0K −$4.28/SF
EGI
$129.9K $25.24/SF
− OpEx
−$32.5K −$6.31/SF
NOI
$97.4K $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%
$1,948,240
Cap Rate 7%
$1,391,600
Cap Rate 9%
$1,082,356
Alternative Uses
Best Use
Office B
$1.39M
$1.22M – $1.62M
NOI $97,412 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$21.57M
$18.87M – $25.17M
NOI $1,509,952 @ 7.0% cap · market cap 97.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,692
Businesses Nearby
Explore this area
Business Placement
Demographics for 22182, VA
27,778
Population
10,285
Households
2.7
Avg Household Size
42
Median Age
82%
College-Educated
97%
High-School Grad
12.5 sq mi
ZIP Area
2,222
Density / Sq Mi
$200,038
Median Household Income
$102,749
Median Earnings
$2,618
Median Rent
$1,086,600
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 - 5,146 SF office condo in the heart of Tysons Corner.
Where is this office units located?
The property is located at 1964 GALLOWS Rd 210B Vienna, VA.
What is the asking price?
The asking price for this property is $1,549,000.
What are key features of this property?
This property features: Prime Tysons Corner location with unbeatable access to major transportation routes (Tysons Metro, Dunn Loring Metro, Rt. 7, I‑495, I‑66, Dulles Toll Road) and proximity to Tysons Corner Center.; Expansive 5,146 SF office suite with a modern, open floor plan suitable for various uses.; Abundance of natural light from window‑lined offices, creating a welcoming and productive environment.
