Ground-Level Office
For Sale
$289,000
299 HERNDON PARKWAY, Herndon, VA 20170
Office space offers parking-lot access, a half bath, central air, and natural light from a skylight.
Property Size1,000 SF
Price / SF$289
Days on Market177
Property Features for 299 HERNDON PARKWAY
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Office
Zoning
CO
Additional Details
Floor
Ground Level
Taxes and HOA fees
Annual Taxes
$4,332
Amenities
skylight
Central Air
3
Tile
Parking.
Unassigned, Lot.
Other.
Building Details
Year Built
1992
Listing Agency:
Weichert, REALTORS
(571) 228-5050
Listed By:
Michael Lefevere · License #0225082600
(571) 228-5050
Source:
Xome
Added: Mar 9
Changed: Aug 31
Last Checked: Aug 31 at 2:25PM
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 Weichert, REALTORS
Investment Insights
Based on property information with market context.
This ground-level office unit provides roughly 1,000 sq.ft. of workspace with its own access from the parking lot. A half bath is located near the entrance, while central air and tile flooring support everyday office use. A skylight brings natural light into the interior, and the unit is available for immediate occupancy.
The property is positioned at the intersection of Herndon Pkwy. and Elden St. Open parking is available in front of the unit. The building was constructed in 1992 and carries CO (Commercial Office) zoning.
The property is positioned at the intersection of Herndon Pkwy. and Elden St. Open parking is available in front of the unit. The building was constructed in 1992 and carries CO (Commercial Office) zoning.
Key Highlights
- Roughly 1,000 sq.ft. of ground‑level office space
- Direct unit access from the parking lot
- Half bath near the entrance
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
$18,930
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
6.55%
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%
$378,600
$378.6K
Cap Rate 7%
$270,429
$270.4K
Cap Rate 9%
$210,333
$210.3K
Market Conditions
NOI Build-Up for 1,000 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
$29.5K $29.52/SF
− Vacancy
−$4.3K −$4.28/SF
EGI
$25.2K $25.24/SF
− OpEx
−$6.3K −$6.31/SF
NOI
$18.9K $18.93/SF
Area
Loudoun County, VA
Vacancy
14.50%
Lease Rate
$29.52 /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%
$378,600
Cap Rate 7%
$270,429
Cap Rate 9%
$210,333
Alternative Uses
Best Use
Office B
$270.4K
$236.6K – $315.5K
NOI $18,930 @ 7.0% cap · market cap 6.55%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$313.4K
$274.2K – $365.6K
NOI $21,938 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,835
Businesses Nearby
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 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 - Office space offers parking-lot access, a half bath, central air, and natural light from a skylight.
Where is this office units located?
The property is located at 299 HERNDON PARKWAY Herndon, VA.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Roughly 1,000 sq.ft. of ground‑level office space; Direct unit access from the parking lot; Half bath near the entrance
