Finished Flex Space in
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4229 Lafayette Center Dr, Chantilly, VA 20151
Finished flex space in Lafayette Business Center, Fairfax County.
Property Size6,400 SF
Price / SF$289.06
Days on Market165
Property Features for 4229 Lafayette Center Dr
General Information
Standard status
Active
Size
6,400 SF
Property subtype
Office, Industrial
Zoning
540- I4
Investment Type
Owner/User
Building Details
Year Built
2006
Year Renovated
2023
Stories
1
Units
1
Listing Agency:
Re/Max Gateway
Listed By:
Kian Veissy · License #00001
Source:
Crexi
Added: Feb 24
Changed: Aug 8
Last Checked: Aug 8 at 2:50PM
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 Re/Max Gateway
Investment Insights
Based on property information with market context.
Located in the Lafayette Business Center in Chantilly, Fairfax County, this property offers a finished space suitable for various uses. The property features a number of large offices, private bathrooms, a reception area, and a large, centralized meeting and conference area. Zoned I-4 (Light Industrial), the property allows for uses such as professional offices, training facilities, healthcare services, research and development, adult care, special care kids schools, and religious facilities. The property is tenant occupied, and appointments are needed for showings. Ample parking is available. The property size is 6,400 square feet.
Key Highlights
- Zoned I‑4 (Light Industrial) allowing for diverse uses.
- Located in the well‑known Lafayette Business Center in Chantilly, Fairfax County.
- Features a beautiful finish space with large offices, private bathrooms, reception area, and a large centralized meeting/conference area.
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
$121,150
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
6.55%
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%
$2,423,000
$2.4M
Cap Rate 7%
$1,730,714
$1.7M
Cap Rate 9%
$1,346,111
$1.3M
Market Conditions
NOI Build-Up for 6,400 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
$188.9K $29.52/SF
− Vacancy
−$27.4K −$4.28/SF
EGI
$161.5K $25.24/SF
− OpEx
−$40.4K −$6.31/SF
NOI
$121.2K $18.93/SF
Area
Loudoun 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 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%
$2,423,000
Cap Rate 7%
$1,730,714
Cap Rate 9%
$1,346,111
Alternative Uses
Best Use
Office B
$1.73M
$1.51M – $2.02M
NOI $121,150 @ 7.0% cap · market cap 6.55%
Second Best
Flex RnD
$1.36M
$1.19M – $1.58M
NOI $94,948 @ 7.0% cap · market cap 5.13%
Theoretical Best
Specialty Retail
$2.01M
$1.76M – $2.34M
NOI $140,400 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
827
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 20151, VA
22,653
Population
6,966
Households
3.3
Avg Household Size
39
Median Age
57%
College-Educated
91%
High-School Grad
15.9 sq mi
ZIP Area
1,425
Density / Sq Mi
$143,422
Median Household Income
$64,002
Median Earnings
$2,245
Median Rent
$647,400
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?
Flex space - Finished flex space in Lafayette Business Center, Fairfax County.
Where is this flex space located?
The property is located at 4229 Lafayette Center Dr Chantilly, VA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Zoned I‑4 (Light Industrial) allowing for diverse uses.; Located in the well‑known Lafayette Business Center in Chantilly, Fairfax County.; Features a beautiful finish space with large offices, private bathrooms, reception area, and a large centralized meeting/conference area.
