Free Standing Office
For Sale
$5,300,000
5328 Lee Hwy, Arlington, VA 22207
Office building for sale in Arlington, Virginia.
Property Size13,440 SF
Price / SF$394.35
Days on Market274
Property Features for 5328 Lee Hwy
General Information
Standard status
Active
Size
13,440 SF
Property subtype
Office
Listing Agency:
KLNB - Tysons
(703) 268-2735
Listed By:
Marc Tasker
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Jul 6
Last Checked: Aug 21 at 5:19AM
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 KLNB - Tysons
Investment Insights
Based on property information with market context.
This is a free-standing office building. The property has a size of 13,440 square feet and is located in Arlington, Virginia.
Key Highlights
- Free standing office building
- Small building
- Office building
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
$180,406
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
3.40%
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%
$3,608,120
$3.6M
Cap Rate 7%
$2,577,229
$2.6M
Cap Rate 9%
$2,004,511
$2.0M
Market Conditions
NOI Build-Up for 13,440 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
$295.1K $21.96/SF
− Vacancy
−$54.6K −$4.06/SF
EGI
$240.5K $17.90/SF
− OpEx
−$60.1K −$4.47/SF
NOI
$180.4K $13.42/SF
Area
Arlington, VA
Vacancy
18.50%
Lease Rate
$21.96 /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%
$3,608,120
Cap Rate 7%
$2,577,229
Cap Rate 9%
$2,004,511
Alternative Uses
Best Use
Office B
$2.58M
$2.26M – $3.01M
NOI $180,406 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.46M
$6.53M – $8.71M
NOI $522,547 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,768
Businesses Nearby
Explore this area
Business Placement
Demographics for 22207, VA
33,734
Population
12,740
Households
2.6
Avg Household Size
40
Median Age
78%
College-Educated
97%
High-School Grad
6.5 sq mi
ZIP Area
5,190
Density / Sq Mi
$237,126
Median Household Income
$112,186
Median Earnings
$2,305
Median Rent
$1,201,800
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 building - Office building for sale in Arlington, Virginia.
Where is this office building located?
The property is located at 5328 Lee Hwy Arlington, VA.
What is the asking price?
The asking price for this property is $5,300,000.
What are key features of this property?
This property features: Free standing office building; Small building; Office building
