Office Suite with Rear
For Sale
$250,000
313 Park Avenue, Falls Church, VA 22046
Approximately 600 SF office suite with rear parking, positioned across from the courthouse and nearby farmers market activity.
Property Size1,200 SF
Price / SF$208.33
Days on Market92
Property Features for 313 Park Avenue
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$2,205
Amenities
Central Air
3
Carpet
Wood Shingle
COMMERCIAL
Parking.
Lot.
Downtown.
Building Details
Year Built
1965
Listing Agency:
Long & Foster Real Estate, Inc.
(703) 402-4507
Listed By:
Patricia Jordan
(703) 402-4507
Source:
Xome
Added: May 25
Changed: Aug 12
Last Checked: Aug 24 at 4:10AM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
Unit 300 at 313 Park Avenue offers an approximately 600-square-foot office space designed for professional use. The suite provides a practical, self-contained footprint for a consultant, attorney, CPA, therapist, or other boutique service business, with a built-in work setting that supports client meetings and daily operations. The property is presented as a charming option for an owner-occupant seeking to establish a business in their own space.
The building is set on a tree-lined street in the heart of Falls Church City. It is described as about one mile from the Metro, and the office location is directly across from the Falls Church courthouse and the Farmers Market, supporting an active, community-oriented streetscape. Nearby restaurant, cafe, and local retail options are also cited for day-to-day convenience.
A key feature noted with this opportunity is the large parking lot behind the building, identified as uncommon in Falls Church City. For a tenant or buyer, that added on-site parking can make client access easier and help support day and evening scheduling. Offered for sale, the suite is well suited for professionals who want a walkable presence, steady foot-traffic visibility from a prominent civic setting, and dedicated parking amenities.
The building is set on a tree-lined street in the heart of Falls Church City. It is described as about one mile from the Metro, and the office location is directly across from the Falls Church courthouse and the Farmers Market, supporting an active, community-oriented streetscape. Nearby restaurant, cafe, and local retail options are also cited for day-to-day convenience.
A key feature noted with this opportunity is the large parking lot behind the building, identified as uncommon in Falls Church City. For a tenant or buyer, that added on-site parking can make client access easier and help support day and evening scheduling. Offered for sale, the suite is well suited for professionals who want a walkable presence, steady foot-traffic visibility from a prominent civic setting, and dedicated parking amenities.
Key Highlights
- Approximately 600 SF office suite at 313 Park Avenue in Falls Church City
- Located across from the Falls Church courthouse and near Farmers Market activity
- Rear parking available with a large parking lot behind the building
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
$22,716
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
9.09%
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%
$454,320
$454.3K
Cap Rate 7%
$324,514
$324.5K
Cap Rate 9%
$252,400
$252.4K
Market Conditions
NOI Build-Up for 1,200 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
$35.4K $29.52/SF
− Vacancy
−$5.1K −$4.28/SF
EGI
$30.3K $25.24/SF
− OpEx
−$7.6K −$6.31/SF
NOI
$22.7K $18.93/SF
Area
Fairfax 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%
$454,320
Cap Rate 7%
$324,514
Cap Rate 9%
$252,400
Alternative Uses
Best Use
Office B
$324.5K
$284.0K – $378.6K
NOI $22,716 @ 7.0% cap · market cap 9.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.03M
$4.40M – $5.87M
NOI $352,107 @ 7.0% cap · market cap 140.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,038
Businesses Nearby
Explore this area
Business Placement
Demographics for 22046, VA
18,576
Population
7,303
Households
2.5
Avg Household Size
40
Median Age
76%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
6,880
Density / Sq Mi
$175,446
Median Household Income
$83,566
Median Earnings
$2,216
Median Rent
$963,600
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 - Approximately 600 SF office suite with rear parking, positioned across from the courthouse and nearby farmers market activity.
Where is this office units located?
The property is located at 313 Park Avenue Falls Church, VA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Approximately 600 SF office suite at 313 Park Avenue in Falls Church City; Located across from the Falls Church courthouse and near Farmers Market activity; Rear parking available with a large parking lot behind the building
