Two-Level Mixed-Use
New
For Sale
$825,000
2102 GALLOWS ROAD #D, Vienna, VA 22182
Fully occupied commercial condominium with medical and spa uses on separate levels.
Property Size2,106 SF
Price / SF$391.74
Days on Market5
Property Features for 2102 GALLOWS ROAD #D
General Information
Standard status
Active
Size
2,106 SF
Property subtype
Commercial
Occupancy
100%
Financials
Gross Income
$61,080
HOA Fee
$233.33
Building Details
Year Built
1983
Tenancy
Multi
Listing Agency:
Fairfax Realty of Tysons
(703) 752-8660
Listed By:
Annie Jin · License #0225089392
(703) 965-2437
Source:
Cummingsrealtors
Added: Sep 11
Changed: Sep 14
Last Checked: Sep 14 at 2:30PM
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 of Tysons
Investment Insights
Based on property information with market context.
This two-level commercial condominium contains 2,106 square feet and was built in 1983. The property is fully occupied, with each floor serving a separate commercial use. The first level is occupied by a medical doctor, while the upper level houses a Massage & Spa Treatment Center. Annual rent escalations are 2% on the first level and 3% on the upper level.
Located at 2102 Gallows Road in Vienna, the property is near Tysons Corner Mall, shopping, restaurants, and other amenities. The separate-floor layout creates a clear division between the two occupied uses within one commercial condominium asset.
Located at 2102 Gallows Road in Vienna, the property is near Tysons Corner Mall, shopping, restaurants, and other amenities. The separate-floor layout creates a clear division between the two occupied uses within one commercial condominium asset.
Key Highlights
- 2,106‑square‑foot commercial condominium
- Two‑level configuration with separate occupants
- Fully occupied property
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
$39,866
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
4.83%
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%
$797,320
$797.3K
Cap Rate 7%
$569,514
$569.5K
Cap Rate 9%
$442,956
$443.0K
Market Conditions
NOI Build-Up for 2,106 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
$62.2K $29.52/SF
− Vacancy
−$9.0K −$4.28/SF
EGI
$53.2K $25.24/SF
− OpEx
−$13.3K −$6.31/SF
NOI
$39.9K $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%
$797,320
Cap Rate 7%
$569,514
Cap Rate 9%
$442,956
Alternative Uses
Best Use
Mixed Use
$4.38M
$3.84M – $5.12M
NOI $306,916 @ 7.0% cap · market cap 37.20%
Second Best
Office B
$569.5K
$498.3K – $664.4K
NOI $39,866 @ 7.0% cap · market cap 4.83%
Theoretical Best
Specialty Retail
$8.83M
$7.72M – $10.30M
NOI $617,948 @ 7.0% cap · market cap 74.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,272
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied commercial condominium with medical and spa uses on separate levels.
Where is this mixed-use property located?
The property is located at 2102 GALLOWS ROAD #D Vienna, VA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 2,106‑square‑foot commercial condominium; Two‑level configuration with separate occupants; Fully occupied property
