Flex Space with Drive-In
For Sale
$865,000
255-255 Sunset Park Dr, Herndon, VA 20170
Versatile commercial space with loading access, mezzanine storage, and PD-B zoning for retail or light industrial use.
Property Size2,224 SF
Price / SF$388.94
Days on Market16
Property Features for 255-255 Sunset Park Dr
General Information
Standard status
Active
Size
2,224 SF
Zoning
PD-B (Planned Development Business)
Warehouse & Industrial
Clear Height
20 ft
Mezzanine
184 SF
Drive-In Doors
1
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$13,656
Listing Agency:
Tysons Realty, Inc.
(703) 893-6700
Listed By:
Pauline Thompson · License #0225106914
(703) 893-6700
Source:
Exprealty
Added: Jul 30
Changed: Aug 14
Last Checked: Aug 14 at 3:30AM
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 Tysons Realty, Inc.
Investment Insights
Based on property information with market context.
This 2,224-square-foot flex property combines office, warehouse, and retail functionality within a versatile commercial layout. The space includes a 14' H x 12' W drive-in bay door, a 184-square-foot built-in wood mezzanine, gas heat, electric AC, one bathroom, and a 5-foot hallway leading to the loading area. A full sprinkler system supports the 20-foot clear-height interior, while the roof is approximately 5 years old.
The property is situated in Sunset Business Park in Herndon, with a 10-minute walk to the Herndon Metro Station. Reston Town Center, Fairfax County Parkway, Dulles Toll Road, and Dulles Airport are also within the surrounding access network. PD-B (Planned Development Business) zoning accommodates a range of retail and light industrial/flex uses.
The property is situated in Sunset Business Park in Herndon, with a 10-minute walk to the Herndon Metro Station. Reston Town Center, Fairfax County Parkway, Dulles Toll Road, and Dulles Airport are also within the surrounding access network. PD-B (Planned Development Business) zoning accommodates a range of retail and light industrial/flex uses.
Key Highlights
- 2,224 SF flex space with office, warehouse, and retail functionality
- 20 ft clear ceiling heights with full sprinkler system
- 14' H x 12' W drive‑in bay door
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
$32,994
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
3.81%
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%
$659,880
$659.9K
Cap Rate 7%
$471,343
$471.3K
Cap Rate 9%
$366,600
$366.6K
Market Conditions
NOI Build-Up for 2,224 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
$53.4K $24.00/SF
− Vacancy
−$2.6K −$1.18/SF
EGI
$50.8K $22.82/SF
− OpEx
−$17.8K −$7.99/SF
NOI
$33.0K $14.84/SF
Area
Loudoun County, VA
Vacancy
4.90%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
35.00%
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%
$659,880
Cap Rate 7%
$471,343
Cap Rate 9%
$366,600
Alternative Uses
Best Use
Flex RnD
$471.3K
$412.4K – $549.9K
NOI $32,994 @ 7.0% cap · market cap 3.81%
Second Best
Warehouse
$249.6K
$218.4K – $291.2K
NOI $17,474 @ 7.0% cap · market cap 2.02%
Theoretical Best
Specialty Retail
$697.0K
$609.9K – $813.2K
NOI $48,789 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
1
Drive-in doors
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,811
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 20170, VA
42,756
Population
14,084
Households
3
Avg Household Size
36
Median Age
57%
College-Educated
87%
High-School Grad
8.8 sq mi
ZIP Area
4,859
Density / Sq Mi
$157,875
Median Household Income
$59,119
Median Earnings
$2,224
Median Rent
$625,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial space with loading access, mezzanine storage, and PD-B zoning for retail or light industrial use.
Where is this flex space located?
The property is located at 255-255 Sunset Park Dr Herndon, VA.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: 2,224 SF flex space with office, warehouse, and retail functionality; 20 ft clear ceiling heights with full sprinkler system; 14' H x 12' W drive‑in bay door
