Office Condominium
For Sale
$315,000
3823 Plaza Dr, Fairfax, VA 22030
1,274 SF office condominium in an established office park setting, built in 1980.
Property Size1,274 SF
Price / SF$247.25
Days on Market149
Property Features for 3823 Plaza Dr
General Information
Standard status
Active
Size
1,274 SF
Building Details
Year Built
1980
Listing Agency:
Serafin Real Estate
Listed By:
Peter Pokorny · License #0225257962
(703) 850-9099
Source:
Riverfoxrealty
Added: May 27
Changed: Oct 10
Last Checked: Oct 5 at 10:35PM
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 Serafin Real Estate
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Investment Insights
Based on property information with market context.
This 1,274 SF office condominium suite at 3823 Plaza Drive was built in 1980 and is located within an established office park setting. Offered for sale in condominium form, the property allows for individual ownership without the operational complexity of a standalone building. Interior configuration details are available upon request, and prospective buyers are encouraged to schedule a walkthrough to review the current layout and condition.
The suite is suited to professional office use, with a parking ratio of 3.5 spaces per 1,000 SF supporting typical single- or multi-staff occupancy. The City of Fairfax offers sustained demand for office and professional services space, including proximity to George Mason University and established residential density.
For accessibility, the broader submarket is served by major regional thoroughfares, supporting connectivity across Northern Virginia and access to Dulles International and Reagan National Airports. Retail amenities, dining, and services are also described as well represented along the immediate corridor.
The suite is suited to professional office use, with a parking ratio of 3.5 spaces per 1,000 SF supporting typical single- or multi-staff occupancy. The City of Fairfax offers sustained demand for office and professional services space, including proximity to George Mason University and established residential density.
For accessibility, the broader submarket is served by major regional thoroughfares, supporting connectivity across Northern Virginia and access to Dulles International and Reagan National Airports. Retail amenities, dining, and services are also described as well represented along the immediate corridor.
Key Highlights
- 1,274 SF office condominium in the City of Fairfax, VA
- Built in 1980 and located within an established office park setting
- Parking ratio of 3.5 spaces per 1,000 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,116
Cap Rate
7.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$482,320
$482.3K
Cap Rate 7%
$344,514
$344.5K
Cap Rate 9%
$267,956
$268.0K
Market Conditions
NOI Build-Up for 1,274 SF
Gross rent
$37.6K $29.52/SF
− Vacancy
−$5.5K −$4.28/SF
EGI
$32.2K $25.24/SF
− OpEx
−$8.0K −$6.31/SF
NOI
$24.1K $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 Rate 5%
$482,320
Cap Rate 7%
$344,514
Cap Rate 9%
$267,956
Alternative Uses
Best Use
Office B
$344.5K
$301.5K – $401.9K
NOI $24,116 @ 7.0% cap · market cap 7.66%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.34M
$4.67M – $6.23M
NOI $373,820 @ 7.0% cap · market cap 118.67%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
3,135
Businesses Nearby
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Business Placement
Demographics for 22030, VA
60,431
Population
21,758
Households
2.8
Avg Household Size
34
Median Age
67%
College-Educated
94%
High-School Grad
19.4 sq mi
ZIP Area
3,115
Density / Sq Mi
$139,885
Median Household Income
$61,628
Median Earnings
$2,242
Median Rent
$700,700
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - 1,274 SF office condominium in an established office park setting, built in 1980.
Where is this office unit located?
The property is located at 3823 Plaza Dr Fairfax, VA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 1,274 SF office condominium in the City of Fairfax, VA; Built in 1980 and located within an established office park setting; Parking ratio of 3.5 spaces per 1,000 SF
