Flex Space with Private
For Sale
$865,000
255 SUNSET PARK DRIVE 255, Herndon, VA 20170
PD-B-zoned commercial space with central air, natural gas, and an on-site parking lot.
Property Size2,224 SF
Days on Market24
Property Features for 255 SUNSET PARK DRIVE 255
General Information
Standard status
Active
Size
2,224 SF
Total Parking Spaces
2
Zoning
PD-B
Taxes and HOA fees
Annual Taxes
$13,656
Amenities
Central Air, Gas
Natural Gas, Central
Instant Hot Water
Private, Parking Lot
Building Details
Building Size
2,224 SF
Year Built
1984
Stories
1
Listing Agency:
Tysons Realty, Inc.
(703) 893-6700
Listed By:
Pauline Thompson · License #0225106914
(703) 893-6700
Source:
Evrealestate
Added: Aug 9
Changed: Aug 24
Last Checked: Aug 31 at 2:59PM
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 flex space at 255 Sunset Park Drive in Herndon was built in 1984 and includes central air, natural gas service, and instant hot water. The property also offers a private parking lot, supporting convenient day-to-day access for occupants and visitors.
Access is provided from the Dulles Toll Road via Fairfax County Parkway, Spring Street, and Herndon Parkway, with the property located within Sunset Park. The address is in Fairfax County and carries PD-B zoning.
Access is provided from the Dulles Toll Road via Fairfax County Parkway, Spring Street, and Herndon Parkway, with the property located within Sunset Park. The address is in Fairfax County and carries PD-B zoning.
Key Highlights
- Flex space at 255 Sunset Park Drive, Herndon, VA 20170
- PD‑B zoning
- 1984 construction
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
Industrial
$210.1K
$183.9K – $245.1K
NOI $14,708 @ 7.0% cap · market cap 1.70%
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
Property Profile
Current Use
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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Similar Off Market Nearby
- Eric Fleischer Catering — 273 Sunset Park Dr, Herndon, VA 20170
- Wined and Dined Catering — 273 Sunset Park Dr, Herndon, VA 20170
- Chef's Table Catering Inc — 141-2 Spring St, Herndon, VA 20170
- Silver Spoon Caterers — 348 Victory Dr, Herndon, VA 20170
Frequently Asked Questions
What type of property is this?
Flex space - PD-B-zoned commercial space with central air, natural gas, and an on-site parking lot.
Where is this flex space located?
The property is located at 255 SUNSET PARK DRIVE 255 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: Flex space at 255 Sunset Park Drive, Herndon, VA 20170; PD‑B zoning; 1984 construction
