Metro-Adjacent Income
For Sale
$660,000
2905 BLEEKER STREET Unit 4-406, Fairfax, VA 22031
Lease in place through Jan 2027; interior includes a den and east-facing balcony.
Property Size1,506 SF
Days on Market89
Property Features for 2905 BLEEKER STREET Unit 4-406
General Information
Standard status
Active
Size
1,506 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA + Den
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,153
Building Details
Building Size
1,506 SF
Year Built
2015
Tenancy
Single
Listing Agency:
RLAH @properties
(703) 626-8374
Listed By:
Chrissy M ODonnell · License #0225154955
(703) 626-8374
Source:
Barnesrealestatecompany
Added: Jun 5
Changed: Aug 29
Last Checked: Aug 30 at 10:02PM
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 RLAH @properties
Investment Insights
Based on property information with market context.
This 2015 residential income condominium at 2905 Bleeker Street offers a 2BR/2BA layout with a den and balcony. The open interior features hardwood floors, a kitchen with granite countertops, stainless steel appliances, and a breakfast bar connected to the living and dining areas. The primary suite includes a soaking tub and walk-in closet, while the second bedroom has its own en-suite bath.
The property sits directly across from the Vienna Metro Station, with access to I-66 and I-495 as well as Tysons, Vienna, and the Mosaic District. Two garage parking spaces and visitor passes convey. A lease is in place through Jan 2027.
The property sits directly across from the Vienna Metro Station, with access to I-66 and I-495 as well as Tysons, Vienna, and the Mosaic District. Two garage parking spaces and visitor passes convey. A lease is in place through Jan 2027.
Key Highlights
- Directly across from the Vienna Metro Station
- 2BR/2BA condo with den and balcony
- Lease in place through Jan 2027
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
$22,543
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
3.42%
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%
$450,860
$450.9K
Cap Rate 7%
$322,043
$322.0K
Cap Rate 9%
$250,478
$250.5K
Market Conditions
NOI Build-Up for 1,506 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
$43.4K $28.80/SF
− Vacancy
−$2.4K −$1.58/SF
EGI
$41.0K $27.22/SF
− OpEx
−$18.4K −$12.25/SF
NOI
$22.5K $14.97/SF
Area
Fairfax County, VA
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
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%
$450,860
Cap Rate 7%
$322,043
Cap Rate 9%
$250,478
Alternative Uses
Best Use
Apartment 5plus
$322.0K
$281.8K – $375.7K
NOI $22,543 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.31M
$5.52M – $7.36M
NOI $441,894 @ 7.0% cap · market cap 66.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
243
Businesses Nearby
Explore this area
Business Placement
Demographics for 22031, VA
35,256
Population
15,390
Households
2.3
Avg Household Size
36
Median Age
72%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
4,966
Density / Sq Mi
$129,743
Median Household Income
$74,178
Median Earnings
$2,267
Median Rent
$710,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Lease in place through Jan 2027; interior includes a den and east-facing balcony.
Where is this residential income property located?
The property is located at 2905 BLEEKER STREET Unit 4-406 Fairfax, VA.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: Directly across from the Vienna Metro Station; 2BR/2BA condo with den and balcony; Lease in place through Jan 2027
