Building Details

Year Built 2014

Listing Agency: Norman Realty, Inc.

Listed By: John E Walvius · License #0225049864 Show Phone

Source: Kandorre

Added: Apr 24 Changed: Oct 25 Last Checked: Oct 7 at 1:41PM

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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 Norman Realty, Inc.

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Investment Insights

Based on property information with market context.

This commercial property features three offices, a large conference room that can be divided into an additional office and smaller conference room or work area, a reception/waiting area, and a kitchenette. It also includes a restroom with a separate changing area and shower. The suite is equipped with a sprinkler system and is handicapped accessible. The property features 10' high ceilings and upgraded finishes. There are two entry doors. The suite offers views of the Occoquan River from the front door. The VRE train station is located nearby, and there is quick access to Route 1, close to the Fairfax County Line. The unit is subject to an existing lease through December 31, 2027. The bike score is 29, indicating it is somewhat bikeable, and the walk score is 16, indicating car dependence.

Key Highlights

• Existing lease in place through December 31, 2027, providing immediate rental income.
• Versatile layout with 3 offices, large conference room (divisible), reception area, kitchenette, and restroom with changing area and shower.
• Convenient location near the VRE train station and Route 1, close to the Fairfax County Line.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,043

Cap Rate

4.90%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$440,860 $440.9K

Cap Rate 7%

$314,900 $314.9K

Cap Rate 9%

$244,922 $244.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,250 SF

Gross rent

$30.3K $24.24/SF

− Vacancy

−$909 −$0.73/SF

EGI

$29.4K $23.51/SF

− OpEx

−$7.3K −$5.88/SF

NOI

$22.0K $17.63/SF

Area

Prince William County, VA

Vacancy

3.00%

Lease Rate

$24.24 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$440,860

Cap Rate 7%

$314,900

Cap Rate 9%

$244,922

Alternative Uses

Best Use

Office B

$314.9K

$275.5K – $367.4K (±1% cap)

NOI $22,043 @ 7.0% cap · market cap 4.90%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$367.1K

$321.2K – $428.3K (±1% cap)

NOI $25,697 @ 7.0% cap · market cap 5.71%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Insight Financial Marketing Information Services

Suggested Use

Top Pick Dental Office Law Firm Pharmacy (Bike/Boat/Book/etc) Store Garden Center Catering Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

86

Businesses Nearby

Explore this area Business Placement

Demographics for 22191, VA

74,189

Population

26,127

Households

2.8

Avg Household Size

34

Median Age

39%

College-Educated

87%

High-School Grad

15.4 sq mi

ZIP Area

4,817

Density / Sq Mi

$107,993

Median Household Income

$49,388

Median Earnings

$2,069

Median Rent

$432,600

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - Professional office suite near VRE with existing lease.

Where is this office unit located?

The property is located at 567 Harbor Side St Woodbridge, VA.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: Existing lease in place through December 31, 2027, providing immediate rental income.; Versatile layout with 3 offices, large conference room (divisible), reception area, kitchenette, and restroom with changing area and shower.; Convenient location near the VRE train station and Route 1, close to the Fairfax County Line.