Two Office Units in
For Sale
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3837 Plaza Dr, Fairfax, VA 22030
Two office condominium units totaling 2,582 SF in Fairfax City.
Property Size1,204 SF
Price / SF$261.63
Days on Market151
Property Features for 3837 Plaza Dr
General Information
Standard status
Active
Size
1,204 SF
Property subtype
RETAIL
Listing Agency:
Serafin Real Estate
(703) 261-4809
Listed By:
Peter Pokorny · License #0225257962
(703) 850-9099
Source:
Moodyscre
Added: May 25
Changed: Oct 11
Last Checked: Oct 20 at 10:51PM
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.
Two separately deeded office condominium units are available within Building B of Old Lee Plaza. Located in the heart of Fairfax City, the units include 1,308 SF on the ground floor and 1,274 SF directly above, offered together. The combined space of 2,582 SF is zoned CR for professional office use. Both units are vacant and available for immediate occupancy or lease-up, with no existing tenants or transition period. Each unit has its own tax parcel and condo documents, allowing them to be held, leased, or sold independently. This stacked configuration is suitable for a growing professional services firm needing functional separation, such as client-facing space on one floor and administrative or back-office functions on the other. CR zoning accommodates various professional users, including attorneys, CPAs, financial advisors, insurance professionals, property managers, and healthcare practitioners, without special exceptions or additional approvals. Fairfax City's professional services market supports office rents in the $24 to $28 per SF range, with stabilized income across both units projected at $62,000 to $72,000 annually. The two-parcel structure preserves future optionality, allowing the holder to collect income or sell each unit independently into a submarket with consistent owner-user demand.
Key Highlights
- Combined 2,582 SF of CR‑zoned professional office space in Fairfax City.
- Two separately deeded units offer flexibility to lease or sell independently.
- Vacant units allow for immediate occupancy or lease‑up with no transition period.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,791
Cap Rate
7.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$455,820
$455.8K
Cap Rate 7%
$325,586
$325.6K
Cap Rate 9%
$253,233
$253.2K
Market Conditions
NOI Build-Up for 1,204 SF
Gross rent
$35.5K $29.52/SF
− Vacancy
−$5.2K −$4.28/SF
EGI
$30.4K $25.24/SF
− OpEx
−$7.6K −$6.31/SF
NOI
$22.8K $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%
$455,820
Cap Rate 7%
$325,586
Cap Rate 9%
$253,233
Alternative Uses
Best Use
Office B
$325.6K
$284.9K – $379.9K
NOI $22,791 @ 7.0% cap · market cap 7.24%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.05M
$4.42M – $5.89M
NOI $353,281 @ 7.0% cap · market cap 112.15%
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 - Two office condominium units totaling 2,582 SF in Fairfax City.
Where is this office unit located?
The property is located at 3837 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: Combined 2,582 SF of CR‑zoned professional office space in Fairfax City.; Two separately deeded units offer flexibility to lease or sell independently.; Vacant units allow for immediate occupancy or lease‑up with no transition period.
