Optical-Buildout Retail
New
For Sale
$1,095,000
3800 N FAIRFAX DRIVE #100, Arlington, VA 22203
The commercial condominium has a courtyard-facing entrance and six deeded garage parking spaces.
Property Size1,672 SF
Price / SF$654.90
Days on Market3
Property Features for 3800 N FAIRFAX DRIVE #100
General Information
Standard status
Active
Size
1,672 SF
Total Parking Spaces
6
Property subtype
Commercial
Additional Details
Asking Price
$1,095,000
Office Units
1
Building Details
Year Built
1974
Buildings
1
Listing Agency:
Compass
(202) 386-6330
Listed By:
KAUSHIK RATH · License #663982
(917) 678-1307
Source:
Cummingsrealtors
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 24 at 7:34AM
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 Compass
Investment Insights
Based on property information with market context.
At Tower Villas, Suite 1 is a 1,672-square-foot commercial condominium with an existing optometry and optical retail buildout. Its entrance faces the courtyard, and the sale includes the real estate and permanent improvements; the operating business and its movable assets are excluded. The building dates to 1974.
The property is at 3800 N. Fairfax Drive in Arlington’s Virginia Square. Six parking spaces in the commercial garage are deeded with the unit. Four more spaces behind the secured garage gate are available separately, bringing the potential total to ten.
The property is at 3800 N. Fairfax Drive in Arlington’s Virginia Square. Six parking spaces in the commercial garage are deeded with the unit. Four more spaces behind the secured garage gate are available separately, bringing the potential total to ten.
Key Highlights
- 1,672‑square‑foot commercial condominium
- Existing optometry and optical retail buildout
- Courtyard‑facing entrance at Tower Villas
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
$55,931
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
5.11%
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%
$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
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
$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 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%
$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.
Property Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
3,851
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - The commercial condominium has a courtyard-facing entrance and six deeded garage parking spaces.
Where is this retail space located?
The property is located at 3800 N FAIRFAX DRIVE #100 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‑square‑foot commercial condominium; Existing optometry and optical retail buildout; Courtyard‑facing entrance at Tower Villas
