Medical Office Suite with Treatment
New
For Sale
$900,000
2235 CEDAR LANE #201, Vienna, VA 22182
Existing clinical improvements include reception space, work areas, and private rooms with en-suite bathrooms.
Property Size2,500 SF
Price / SF$360
Days on Market3
Property Features for 2235 CEDAR LANE #201
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Commercial
Building Details
Year Built
1986
Listing Agency:
RE/MAX Realty Group
(301) 921-4500
Listed By:
KATHY XU · License #579567
(301) 254-3671
Source:
Cummingsrealtors
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 24 at 7:23AM
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 Realty Group
Investment Insights
Based on property information with market context.
This approximately 2,500-square-foot medical office occupies about half of the building’s second floor and has windows on three sides. Its current sleep-study configuration includes a reception and waiting area, three offices, a sink-equipped lab or technician room, a kitchen, and a laundry closet with hookups. Three treatment rooms each have a full private bathroom. Existing plumbing, wood and tile flooring, and a sprinkler system are also in place.
The 1986 brick building provides secure entry, elevator service, shared restrooms on each floor, and surface parking. The property is in Vienna, near Tysons Corner, Inova Fairfax Hospital, Metro stations, I-495, and major Northern Virginia transportation routes. Shopping, dining, and other services are nearby.
The 1986 brick building provides secure entry, elevator service, shared restrooms on each floor, and surface parking. The property is in Vienna, near Tysons Corner, Inova Fairfax Hospital, Metro stations, I-495, and major Northern Virginia transportation routes. Shopping, dining, and other services are nearby.
Key Highlights
- Approximately 2,500 SF of medical office space on the second floor
- Three treatment rooms, each with a private full bathroom
- Current sleep‑study layout includes reception, three offices, lab/technician room, kitchen, and laundry hookups
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
$47,324
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
5.26%
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%
$946,480
$946.5K
Cap Rate 7%
$676,057
$676.1K
Cap Rate 9%
$525,822
$525.8K
Market Conditions
NOI Build-Up for 2,500 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
$73.8K $29.52/SF
− Vacancy
−$10.7K −$4.28/SF
EGI
$63.1K $25.24/SF
− OpEx
−$15.8K −$6.31/SF
NOI
$47.3K $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%
$946,480
Cap Rate 7%
$676,057
Cap Rate 9%
$525,822
Alternative Uses
Best Use
Office B
$676.1K
$591.6K – $788.7K
NOI $47,324 @ 7.0% cap · market cap 5.26%
Second Best
Healthcare Medical
$650.8K
$569.4K – $759.2K
NOI $45,554 @ 7.0% cap · market cap 5.06%
Theoretical Best
Specialty Retail
$10.48M
$9.17M – $12.23M
NOI $733,556 @ 7.0% cap · market cap 81.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
623
Businesses Nearby
Under-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing clinical improvements include reception space, work areas, and private rooms with en-suite bathrooms.
Where is this medical office space located?
The property is located at 2235 CEDAR LANE #201 Vienna, VA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Approximately 2,500 SF of medical office space on the second floor; Three treatment rooms, each with a private full bathroom; Current sleep‑study layout includes reception, three offices, lab/technician room, kitchen, and laundry hookups
