Retail Condominium with Deeded
3800 N FAIRFAX Drive, Arlington, VA 22203
For Sale
$1,095,000
Commercial Sale, ARLINGTON, VA
Property Size1,672 SF
Price / SF$654.90
Days on Market49
Property Features for 3800 N FAIRFAX Drive
General Information
Property type
Property subtype
Parking
Parking features
Subdivision
Elementary school district
Middle school district
High school district
Standard status
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Cooling system
Building Details
Year built
Building materials
Listing Agency:
Compass
(202) 386-6330
Listed By:
KAUSHIK RATH
(917) 678-1307
Added: Sep 22
Last Checked: Nov 9 at 5:06AM
MLS# VAAR2080094
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Suite 1 at Tower Villas is a 1,672-square-foot commercial condominium with a courtyard-facing entrance and an existing optometry and optical retail buildout. The offering includes the real estate and permanent improvements, while the operating business, inventory, movable equipment, patient records, trade name, and goodwill are excluded. The space may accommodate retail or professional office use, subject to applicable requirements.
The property is located at 3800 N. Fairfax Drive in Arlington, Virginia, within the Virginia Square area. Parking is a notable component of the offering, with six separately deeded spaces in the building’s commercial garage and four additional separately deeded spaces behind the secured garage gate available for a potential total of ten spaces. Constructed in 1974, the building features concrete construction, forced-air heating, central air, and a parking lot.
The property is located at 3800 N. Fairfax Drive in Arlington, Virginia, within the Virginia Square area. Parking is a notable component of the offering, with six separately deeded spaces in the building’s commercial garage and four additional separately deeded spaces behind the secured garage gate available for a potential total of ten spaces. Constructed in 1974, the building features concrete construction, forced-air heating, central air, and a parking lot.
Key Highlights
- 1,672 SF commercial condominium with courtyard‑facing entrance
- Existing optometry and optical retail buildout
- Six separately deeded commercial garage parking spaces included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,931
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,118,620
$1.1M
Cap Rate 7%
$799,014
$799.0K
Cap Rate 9%
$621,456
$621.5K
Market Conditions
NOI Build-Up for 1,672 SF
Gross rent
$83.7K $50.04/SF
− Vacancy
−$3.8K −$2.25/SF
EGI
$79.9K $47.79/SF
− OpEx
−$24.0K −$14.34/SF
NOI
$55.9K $33.45/SF
Area
Arlington, VA
Vacancy
4.50%
Lease Rate
$50.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,118,620
Cap Rate 7%
$799,014
Cap Rate 9%
$621,456
Alternative Uses
Best Use
Retail
$799.0K
$699.1K – $932.2K
NOI $55,931 @ 7.0% cap · market cap 5.11%
Second Best
Healthcare Medical
$357.9K
$313.2K – $417.6K
NOI $25,055 @ 7.0% cap · market cap 2.29%
Theoretical Best
Specialty Retail
$928.7K
$812.6K – $1.08M
NOI $65,007 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
3,851
Businesses Nearby
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Business Placement
Demographics for 22203, VA
25,437
Population
14,528
Households
1.8
Avg Household Size
33
Median Age
78%
College-Educated
95%
High-School Grad
1.6 sq mi
ZIP Area
15,898
Density / Sq Mi
$132,402
Median Household Income
$90,699
Median Earnings
$2,318
Median Rent
$809,700
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Retail space - Courtyard-facing commercial condominium with an existing optometry and optical retail buildout and flexible professional-use potential.
Where is this retail space located?
The property is located at 3800 N FAIRFAX Drive Arlington, VA.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: 1,672 SF commercial condominium with courtyard‑facing entrance; Existing optometry and optical retail buildout; Six separately deeded commercial garage parking spaces included
