Corner Office Condo with
New
For Sale
$225,000
28 John Marshall St Unit 10, Warrenton, VA 20186
Corner office condominium with flexible layout, kitchenette, half bath, and direct parking-lot access.
Property Size900 SF
Price / SF$250
Days on Market2
Property Features for 28 John Marshall St Unit 10
General Information
Standard status
Active
Size
900 SF
Amenities
built-in bookshelves
kitchenette
half bath
security bars
building directory
signage
Building Details
Year Built
1985
Tenancy
Multi
Listing Agency:
Virginia Realty & Management, LLC.
Listed By:
Virginia L Wright
(540) 878-5041
Source:
Soldbypattie
Added: Sep 4
Last Checked: Sep 4 at 3:34PM
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 corner office condominium provides a practical configuration for professional use. The current layout includes a reception area, two larger offices, a kitchenette, half bath, and built-in shelving. A division wall can be removed to create one larger L-shaped workspace. Four windows bring natural light into the suite, with security bars on three of them.
The unit offers direct access from the parking lot and is positioned just off Waterloo Street in historic Warrenton. Main Street, Fauquier County offices, and additional retail and professional offices are nearby. Building signage is available at the office entrance, with directory placement visible from Waterloo Street. The property was built in 1985.
The unit offers direct access from the parking lot and is positioned just off Waterloo Street in historic Warrenton. Main Street, Fauquier County offices, and additional retail and professional offices are nearby. Building signage is available at the office entrance, with directory placement visible from Waterloo Street. The property was built in 1985.
Key Highlights
- 900‑square‑foot corner office condominium
- Flexible plan with reception area and two offices, or one larger L‑shaped workspace
- Four windows; three have security bars
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
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Frequently Asked Questions
What type of property is this?
Office units - Corner office condominium with flexible layout, kitchenette, half bath, and direct parking-lot access.
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 corner office condominium; Flexible plan with reception area and two offices, or one larger L‑shaped workspace; Four windows; three have security bars
