Building Details

Year Built 1985

Tenancy Multi

Listing Agency: Coldwell Banker Realty d***@cbmove.com Show Phone

Listed By: Deniz Senyurt · License #677741 Show Phone

Source: Cummingsrealtors

Added: Oct 14 Changed: Oct 16 Last Checked: Oct 16 at 1:59PM

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Investment Insights

Based on property information with market context.

This retail condominium in Oakton offers 1,340 SF of interior space. Its original medical buildout includes three hand-washing stations and a restroom; the unit later housed a massage center. Built in 1985, it is located at 2972 Chain Bridge Road, Unit C.

The property fronts the Route 123 corridor, which carries approximately 20,129 vehicles per day. Subway and Domino’s Pizza are next to the unit, and the Vienna/Fairfax-GMU Metro Station is a short drive away. I-66 and Hunter Mill Road provide nearby connections, with access to Vienna, Fairfax, and Tysons.

Key Highlights

• 1,340 SF retail condominium unit
• Originally configured for medical use; includes three hand‑washing stations and a restroom
• Built in 1985

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$36,752

Cap Rate

4.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$735,040 $735.0K

Cap Rate 7%

$525,029 $525.0K

Cap Rate 9%

$408,356 $408.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,340 SF

Gross rent

$54.4K $40.56/SF

− Vacancy

−$1.8K −$1.38/SF

EGI

$52.5K $39.18/SF

− OpEx

−$15.8K −$11.75/SF

NOI

$36.8K $27.43/SF

Area

Fairfax County, VA

Vacancy

3.40%

Lease Rate

$40.56 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$735,040

Cap Rate 7%

$525,029

Cap Rate 9%

$408,356

Alternative Uses

Best Use

Retail

$525.0K

$459.4K – $612.5K (±1% cap)

NOI $36,752 @ 7.0% cap · market cap 4.87%

Second Best

Office B

$362.4K

$317.1K – $422.8K (±1% cap)

NOI $25,366 @ 7.0% cap · market cap 3.36%

Theoretical Best

Specialty Retail

$5.62M

$4.91M – $6.55M (±1% cap)

NOI $393,186 @ 7.0% cap · market cap 52.15%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Retail space

Suggested Use

Top Pick Building Supply Hair Salon Auto Repair Shop Auto Parts Store Big Box & Wholesale Store Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Office units

20,129 VPD

Traffic count

Multi-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

875

Businesses Nearby

Explore this area Business Placement

Demographics for 22124, VA

18,488

Population

7,049

Households

2.6

Avg Household Size

43

Median Age

81%

College-Educated

99%

High-School Grad

10.3 sq mi

ZIP Area

1,795

Density / Sq Mi

$216,712

Median Household Income

$114,420

Median Earnings

$2,469

Median Rent

$979,900

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - The unit has three hand-washing stations and a restroom within space originally configured for medical use.

Where is this retail space located?

The property is located at 2972 CHAIN BRIDGE ROAD #C Oakton, VA.

What is the asking price?

The asking price for this property is $754,000.

What are key features of this property?

This property features: 1,340 SF retail condominium unit; Originally configured for medical use; includes three hand‑washing stations and a restroom; Built in 1985