Remodeled First-Floor Office
New
For Sale
$230,000
3713 S George Mason Drive C1w, Falls Church, VA 22041
Three private offices with a half bath, updated finishes, dedicated parking, and access to extensive building amenities.
Property Size960 SF
Price / SF$239.58
Days on Market2
Property Features for 3713 S George Mason Drive C1w
General Information
Standard status
Active
Size
960 SF
Total Parking Spaces
4
Additional Details
Floor
First Floor
HOA Fee
$660.14
Office Units
1
Amenities
fitness center
outdoor pool
sauna
billiard room
game room
party room
clubhouse for events
reception desk
extra storage space
security access control
24-hour security services
Building Details
Year Built
1979
Tenancy
Single
Listing Agency:
Bonilla and Associates LLC
Listed By:
Fanny M Bonilla|
(571) 275-1633
Source:
Southjerseyshorehomesfinder
Added: Sep 8
Last Checked: Sep 8 at 2:34PM
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 Bonilla and Associates LLC
Investment Insights
Based on property information with market context.
This first-floor office unit includes three private offices and one half bath. Remodeling completed in 2025-2026 introduced tile flooring, a renovated bathroom, a new principal glass entry door, an updated A/C system, a new ceiling, and fresh paint. Four reserved parking spaces are included with the unit.
The building contains 556 residential units and provides guest parking, a reception desk, 24-hour security services, controlled access, and extra storage. Building amenities include a fitness center, outdoor pool, sauna, billiard room, game room, party room, and clubhouse space for events. The condominium association includes the master insurance policy, water, and building maintenance.
The building contains 556 residential units and provides guest parking, a reception desk, 24-hour security services, controlled access, and extra storage. Building amenities include a fitness center, outdoor pool, sauna, billiard room, game room, party room, and clubhouse space for events. The condominium association includes the master insurance policy, water, and building maintenance.
Key Highlights
- First‑floor office unit with 3 offices and 1 half bath
- Remodeled in 2025‑2026 with new tile floor, bathroom, glass door, A/C system, and ceiling
- Fresh paint throughout the office
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
$18,173
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
7.90%
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%
$363,460
$363.5K
Cap Rate 7%
$259,614
$259.6K
Cap Rate 9%
$201,922
$201.9K
Market Conditions
NOI Build-Up for 960 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
$28.3K $29.52/SF
− Vacancy
−$4.1K −$4.28/SF
EGI
$24.2K $25.24/SF
− OpEx
−$6.1K −$6.31/SF
NOI
$18.2K $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%
$363,460
Cap Rate 7%
$259,614
Cap Rate 9%
$201,922
Alternative Uses
Best Use
Office B
$259.6K
$227.2K – $302.9K
NOI $18,173 @ 7.0% cap · market cap 7.90%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.02M
$3.52M – $4.69M
NOI $281,686 @ 7.0% cap · market cap 122.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,873
Businesses Nearby
Explore this area
Business Placement
Demographics for 22041, VA
28,039
Population
11,567
Households
2.4
Avg Household Size
36
Median Age
47%
College-Educated
82%
High-School Grad
2.8 sq mi
ZIP Area
10,014
Density / Sq Mi
$91,075
Median Household Income
$46,350
Median Earnings
$1,913
Median Rent
$432,800
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 - Three private offices with a half bath, updated finishes, dedicated parking, and access to extensive building amenities.
Where is this office units located?
The property is located at 3713 S George Mason Drive C1w Falls Church, VA.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: First‑floor office unit with 3 offices and 1 half bath; Remodeled in 2025‑2026 with new tile floor, bathroom, glass door, A/C system, and ceiling; Fresh paint throughout the office
