Two-Unit Office
For Sale
$625,000
5051 Backlick Road A & B, Annandale, VA 22003
Flexible commercial layout with private offices, shared reception, kitchen amenities, and dedicated parking.
Property Size2,000 SF
Price / SF$312.50
Days on Market14
Property Features for 5051 Backlick Road A & B
General Information
Standard status
Active
Size
2,000 SF
Additional Details
Asking Price
$625,000
Building Details
Year Built
1984
Listing Agency:
CENTURY 21 New Millennium
Listed By:
Gurdip K Mangat · License #0225085855
(703) 556-4222
Source:
Selltheshore
Added: Sep 2
Changed: Sep 15
Last Checked: Sep 14 at 4:32PM
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 CENTURY 21 New Millennium
Investment Insights
Based on property information with market context.
This office property combines two units within approximately 2,000 square feet of commercial space. The interior includes seven offices, two bathrooms, a generous reception area, and additional open space for reconfiguration. A kitchen with cabinetry, refrigerator, and an eat-in area supports daily staff use, while natural light contributes to the interior environment. The property was built in 1984 and includes a dedicated parking lot for employees and visitors. Located at 5051 Backlick Road A & B in Annandale, Virginia, the offering provides an established office configuration with room to adapt the layout to different business requirements.
Key Highlights
- Approximately 2,000 square feet of office space
- Configured as 2 units: 5051 A and 5051 B
- 7 offices and 2 bathrooms
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
$37,859
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
6.06%
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%
$757,180
$757.2K
Cap Rate 7%
$540,843
$540.8K
Cap Rate 9%
$420,656
$420.7K
Market Conditions
NOI Build-Up for 2,000 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
$59.0K $29.52/SF
− Vacancy
−$8.6K −$4.28/SF
EGI
$50.5K $25.24/SF
− OpEx
−$12.6K −$6.31/SF
NOI
$37.9K $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 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%
$757,180
Cap Rate 7%
$540,843
Cap Rate 9%
$420,656
Alternative Uses
Best Use
Office B
$540.8K
$473.2K – $631.0K
NOI $37,859 @ 7.0% cap · market cap 6.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.38M
$7.34M – $9.78M
NOI $586,845 @ 7.0% cap · market cap 93.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
489
Businesses Nearby
Explore this area
Business Placement
Demographics for 22003, VA
59,372
Population
19,497
Households
3
Avg Household Size
39
Median Age
51%
College-Educated
87%
High-School Grad
12.6 sq mi
ZIP Area
4,712
Density / Sq Mi
$134,109
Median Household Income
$54,906
Median Earnings
$1,988
Median Rent
$694,300
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?
Office units - Flexible commercial layout with private offices, shared reception, kitchen amenities, and dedicated parking.
Where is this office units located?
The property is located at 5051 Backlick Road A & B Annandale, VA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Approximately 2,000 square feet of office space; Configured as 2 units: 5051 A and 5051 B; 7 offices and 2 bathrooms
