Office Condo with Private
For Sale
Contact for pricing
513 W Broad St., Falls Church, VA 22046
Bright office space with three walls of windows, high ceilings, two restrooms, and private elevator access.
Property Size3,070 SF
Price / SF$301.30
Days on Market70
Property Features for 513 W Broad St.
General Information
Standard status
Active
Size
3,070 SF
Total Parking Spaces
21
Property subtype
Office
Zoning
B-1 (includes office and retail)
Building Details
Year Built
2006
Listing Agency:
Korte Realty
Listed By:
Treena Rinaldi · License #VA
(703) 532-7704
Source:
Crexi
Added: Jun 30
Changed: Aug 13
Last Checked: Sep 7 at 5:41AM
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 Korte Realty
Investment Insights
Based on property information with market context.
Office condominium unit at 513 W. Broad St., Falls Church, VA 22046, designed with three walls of windows and high ceilings for a bright, open interior. The space includes two restrooms and an enclosed childcare area that is removable.
Access is provided by a private elevator, with ample garage parking available. The property is described as positioned between two Metros and near two entrances to I-66.
B1 zoning allows multiple professional uses, including office, medical, and institutional.
Access is provided by a private elevator, with ample garage parking available. The property is described as positioned between two Metros and near two entrances to I-66.
B1 zoning allows multiple professional uses, including office, medical, and institutional.
Key Highlights
- Year built 2006
- Bright office space with three walls of windows and high ceilings
- Private elevator access
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
$58,114
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
6.28%
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%
$1,162,280
$1.2M
Cap Rate 7%
$830,200
$830.2K
Cap Rate 9%
$645,711
$645.7K
Market Conditions
NOI Build-Up for 3,070 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
$90.6K $29.52/SF
− Vacancy
−$13.1K −$4.28/SF
EGI
$77.5K $25.24/SF
− OpEx
−$19.4K −$6.31/SF
NOI
$58.1K $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 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%
$1,162,280
Cap Rate 7%
$830,200
Cap Rate 9%
$645,711
Alternative Uses
Best Use
Office B
$830.2K
$726.4K – $968.6K
NOI $58,114 @ 7.0% cap · market cap 6.28%
Second Best
Healthcare Medical
$799.2K
$699.3K – $932.4K
NOI $55,941 @ 7.0% cap · market cap 6.05%
Theoretical Best
Specialty Retail
$12.87M
$11.26M – $15.01M
NOI $900,807 @ 7.0% cap · market cap 97.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,850
Businesses Nearby
Explore this area
Business Placement
Demographics for 22046, VA
18,576
Population
7,303
Households
2.5
Avg Household Size
40
Median Age
76%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
6,880
Density / Sq Mi
$175,446
Median Household Income
$83,566
Median Earnings
$2,216
Median Rent
$963,600
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 - Bright office space with three walls of windows, high ceilings, two restrooms, and private elevator access.
Where is this office units located?
The property is located at 513 W Broad St. Falls Church, VA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Year built 2006; Bright office space with three walls of windows and high ceilings; Private elevator access
