Two-Suite Ground-Floor Retail
For Sale
$795,000
2300 N PERSHING DRIVE N #B, Arlington, VA 22201
Street-facing commercial condominium with flexible suite configuration, separate meters, rear access, and on-site parking in Arlington’s Lyon Park neighborhood.
Property Size1,778 SF
Price / SF$447.13
Days on Market23
Property Features for 2300 N PERSHING DRIVE N #B
General Information
Standard status
Active
Size
1,778 SF
Total Parking Spaces
90
Property subtype
Commercial
Zoning
C-1
Site & Location
Corner Location
Yes
Road Access
Yes
Additional Details
Floor
Ground
Amenities
recessed lighting
air conditioning
dual street-front and rear access
separately metered suites
Building Details
Year Built
2004
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Dudley Auctions Inc
(757) 651-1729
Listed By:
Tim O. Dudley · License #0225224467
(757) 651-1729
Source:
Cummingsrealtors
Added: Jul 30
Changed: Aug 21
Last Checked: Aug 21 at 9:06AM
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 Dudley Auctions Inc
Investment Insights
Based on property information with market context.
This 1,778-square-foot ground-level retail condominium is located within The Bromptons at Lyon Park, a Class A building completed in 2004. The space is divided into two separately metered suites, each with a customer-facing entrance along N. Pershing Drive and access from the rear parking area. Recessed lighting and A/C are in place, while C-1 zoning supports retail, service, and office uses.
The property is positioned near N. Pershing Drive and N. Wayne Street, with 90 free parking spaces serving the building. It is approximately five minutes from I-395, I-66, Rosslyn, Clarendon, Crystal City, Amazon HQ2, Reagan National Airport, and Washington, DC. The surrounding Lyon Park area includes apartments, retail, dining, and office uses, creating an established commercial setting for the condominium.
The property is positioned near N. Pershing Drive and N. Wayne Street, with 90 free parking spaces serving the building. It is approximately five minutes from I-395, I-66, Rosslyn, Clarendon, Crystal City, Amazon HQ2, Reagan National Airport, and Washington, DC. The surrounding Lyon Park area includes apartments, retail, dining, and office uses, creating an established commercial setting for the condominium.
Key Highlights
- 1,778 SF ground‑floor retail condominium in The Bromptons at Lyon Park
- Two separately metered suites with individual street entrances and rear parking‑lot access
- 90 free on‑site parking spaces
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
$59,477
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
7.48%
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%
$1,189,540
$1.2M
Cap Rate 7%
$849,671
$849.7K
Cap Rate 9%
$660,856
$660.9K
Market Conditions
NOI Build-Up for 1,778 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
$89.0K $50.04/SF
− Vacancy
−$4.0K −$2.25/SF
EGI
$85.0K $47.79/SF
− OpEx
−$25.5K −$14.34/SF
NOI
$59.5K $33.45/SF
Area
Arlington, VA
Vacancy
4.50%
Lease Rate
$50.04 /SF/Yr
Expense Ratio
30.00%
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%
$1,189,540
Cap Rate 7%
$849,671
Cap Rate 9%
$660,856
Alternative Uses
Best Use
Retail
$849.7K
$743.5K – $991.3K
NOI $59,477 @ 7.0% cap · market cap 7.48%
Second Best
Office B
$340.9K
$298.3K – $397.8K
NOI $23,866 @ 7.0% cap · market cap 3.00%
Theoretical Best
Specialty Retail
$987.6K
$864.1K – $1.15M
NOI $69,129 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,097
Businesses Nearby
Explore this area
Business Placement
Demographics for 22201, VA
39,331
Population
21,787
Households
1.8
Avg Household Size
32
Median Age
86%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
17,100
Density / Sq Mi
$141,736
Median Household Income
$89,508
Median Earnings
$2,468
Median Rent
$760,700
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?
Retail space - Street-facing commercial condominium with flexible suite configuration, separate meters, rear access, and on-site parking in Arlington’s Lyon Park neighborhood.
Where is this retail space located?
The property is located at 2300 N PERSHING DRIVE N #B Arlington, VA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 1,778 SF ground‑floor retail condominium in The Bromptons at Lyon Park; Two separately metered suites with individual street entrances and rear parking‑lot access; 90 free on‑site parking spaces
