Updated Office Condo For
For Sale
$399,500
3873 Plaza Dr, Fairfax, VA 22030
Updated office condo in Fairfax, convenient location, priced below assessment.
Property Size1,879 SF
Price / SF$212.61
Days on Market154
Property Features for 3873 Plaza Dr
General Information
Standard status
Active
Size
1,879 SF
Building Details
Year Built
1982
Listing Agency:
Bajwa Commercial Real Estate
Listed By:
Anshum Sapra
(202) 758-5200
Source:
Soldbypattie
Added: May 16
Changed: Oct 13
Last Checked: Oct 7 at 12:57PM
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 Bajwa Commercial Real Estate
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Investment Insights
Based on property information with market context.
This updated second-floor office condo is located in Fairfax and is zoned C2 (Retail Comm). The property features fresh paint and hardwood flooring. The layout includes six office rooms, one large conference room, and two bathrooms. The office space is situated on Old Lee Highway, offering convenient access to downtown Fairfax City, major roads, the Judicial Center, and George Mason University. The property is currently leased month to month and is priced below the current assessment.
Key Highlights
- Zoned C2 (Retail Comm) offering versatile business possibilities.
- Priced below current assessment.
- 6 Office Rooms + 1 Large Conference Room and 2 Baths.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,569
Cap Rate
8.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$711,380
$711.4K
Cap Rate 7%
$508,129
$508.1K
Cap Rate 9%
$395,211
$395.2K
Market Conditions
NOI Build-Up for 1,879 SF
Gross rent
$55.5K $29.52/SF
− Vacancy
−$8.0K −$4.28/SF
EGI
$47.4K $25.24/SF
− OpEx
−$11.9K −$6.31/SF
NOI
$35.6K $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%
$711,380
Cap Rate 7%
$508,129
Cap Rate 9%
$395,211
Alternative Uses
Best Use
Office B
$508.1K
$444.6K – $592.8K
NOI $35,569 @ 7.0% cap · market cap 8.90%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.88M
$6.89M – $9.19M
NOI $551,341 @ 7.0% cap · market cap 138.01%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,135
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office units - Updated office condo in Fairfax, convenient location, priced below assessment.
Where is this office units located?
The property is located at 3873 Plaza Dr Fairfax, VA.
What is the asking price?
The asking price for this property is $399,500.
What are key features of this property?
This property features: Zoned C2 (Retail Comm) offering versatile business possibilities.; Priced below current assessment.; 6 Office Rooms + 1 Large Conference Room and 2 Baths.**
