Office Condo with Flexible
For Sale
$225,000
28 John Marshall St Unit 10, Warrenton, VA 20186
Corner office unit with a kitchenette, half bath, signage options, and designated parking.
Property Size900 SF
Price / SF$250
Days on Market35
Property Features for 28 John Marshall St Unit 10
General Information
Standard status
Active
Size
900 SF
Total Parking Spaces
2
Building Details
Year Built
1985
Tenancy
Multi
Listing Agency:
Virginia Realty & Management, LLC.
(540) 878-5041
Listed By:
Virginia L Wright
Source:
Summitrealtors
Added: Jul 27
Changed: Aug 28
Last Checked: Aug 29 at 11:46AM
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 Virginia Realty & Management, LLC.
Investment Insights
Based on property information with market context.
This 900-square-foot office condo, built in 1985, offers a practical configuration for professional use. The existing plan includes a reception area, two generously sized offices, built-in shelving, a kitchenette, and a half bath. The dividing wall can be removed to create one larger L-shaped workspace. Multiple windows provide natural light, while security bars protect three windows.
The unit is located at 28 John Marshall St Unit 10 in Warrenton, near Main Street, Fauquier County offices, and additional retail and professional businesses. Signage may be placed near the unit entrance, and the building directory is visible from Waterloo Street. The HOA designates two parking spaces per condo unit and maintains the sidewalks and parking area, including snow clearing.
The unit is located at 28 John Marshall St Unit 10 in Warrenton, near Main Street, Fauquier County offices, and additional retail and professional businesses. Signage may be placed near the unit entrance, and the building directory is visible from Waterloo Street. The HOA designates two parking spaces per condo unit and maintains the sidewalks and parking area, including snow clearing.
Key Highlights
- 900‑square‑foot office condo built in 1985
- Flexible plan with reception area, two offices, or one larger L‑shaped workspace
- Kitchenette, half bath, and built‑in shelving included
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
$12,050
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
5.36%
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%
$241,000
$241.0K
Cap Rate 7%
$172,143
$172.1K
Cap Rate 9%
$133,889
$133.9K
Market Conditions
NOI Build-Up for 900 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
$18.8K $20.88/SF
− Vacancy
−$2.7K −$3.03/SF
EGI
$16.1K $17.85/SF
− OpEx
−$4.0K −$4.46/SF
NOI
$12.1K $13.39/SF
Area
Fauquier County, VA
Vacancy
14.50%
Lease Rate
$20.88 /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%
$241,000
Cap Rate 7%
$172,143
Cap Rate 9%
$133,889
Alternative Uses
Best Use
Office B
$172.1K
$150.6K – $200.8K
NOI $12,050 @ 7.0% cap · market cap 5.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$499.9K
$437.4K – $583.2K
NOI $34,992 @ 7.0% cap · market cap 15.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,447
Businesses Nearby
Explore this area
Business Placement
Demographics for 20186, VA
15,171
Population
6,114
Households
2.5
Avg Household Size
43
Median Age
44%
College-Educated
93%
High-School Grad
58.7 sq mi
ZIP Area
258
Density / Sq Mi
$100,813
Median Household Income
$50,533
Median Earnings
$1,541
Median Rent
$485,000
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?
Office units - Corner office unit with a kitchenette, half bath, signage options, and designated parking.
Where is this office units located?
The property is located at 28 John Marshall St Unit 10 Warrenton, VA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 900‑square‑foot office condo built in 1985; Flexible plan with reception area, two offices, or one larger L‑shaped workspace; Kitchenette, half bath, and built‑in shelving included
