Medical Office Condo
For Sale
$235,000
611 Carlin Springs Road, Arlington, VA 22204
Move-in ready medical condo suite with four exam rooms, reception area, bathroom, and computer room.
Property Size886 SF
Price / SF$265.24
Days on Market179
Property Features for 611 Carlin Springs Road
General Information
Standard status
Active
Size
886 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,566
Amenities
Central Air
3
Laminate
S-D
Urban.
Building Details
Year Built
1981
Listing Agency:
(703) 819-8406
Listed By:
Compass
(703) 819-8406
Source:
Xome
Added: Feb 28
Changed: Aug 12
Last Checked: Aug 25 at 6:17AM
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 Compass
Investment Insights
Based on property information with market context.
This medical office condo suite is move-in ready and built out for healthcare use. The unit includes four exam rooms with plumbing and sinks, along with a reception area, a bathroom, and a computer room. There are two entrances to the office, providing flexible access for day-to-day operations.
The suite is located in a building that also includes a pharmacy. The property offers convenient accessibility close to Rt 7, Columbia Pike, and Rt 50.
The interior configuration supports clinical workflows with dedicated exam spaces and supporting front-of-house and administrative areas already in place.
The suite is located in a building that also includes a pharmacy. The property offers convenient accessibility close to Rt 7, Columbia Pike, and Rt 50.
The interior configuration supports clinical workflows with dedicated exam spaces and supporting front-of-house and administrative areas already in place.
Key Highlights
- Move‑in ready medical condo suite with 4 exam rooms, plumbing, and sinks
- Includes reception area, bathroom, and computer room
- Two entrances to the office
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
$13,277
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
5.65%
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%
$265,540
$265.5K
Cap Rate 7%
$189,671
$189.7K
Cap Rate 9%
$147,522
$147.5K
Market Conditions
NOI Build-Up for 886 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
$23.9K $27.00/SF
− Vacancy
−$1.8K −$2.03/SF
EGI
$22.1K $24.98/SF
− OpEx
−$8.9K −$9.99/SF
NOI
$13.3K $14.99/SF
Area
Arlington, VA
Vacancy
7.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$265,540
Cap Rate 7%
$189,671
Cap Rate 9%
$147,522
Alternative Uses
Best Use
Healthcare Medical
$189.7K
$166.0K – $221.3K
NOI $13,277 @ 7.0% cap · market cap 5.65%
Second Best
Office B
$169.9K
$148.7K – $198.2K
NOI $11,893 @ 7.0% cap · market cap 5.06%
Theoretical Best
Specialty Retail
$492.1K
$430.6K – $574.1K
NOI $34,448 @ 7.0% cap · market cap 14.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,131
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 22204, VA
52,761
Population
24,128
Households
2.2
Avg Household Size
35
Median Age
62%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
12,869
Density / Sq Mi
$109,277
Median Household Income
$73,091
Median Earnings
$1,871
Median Rent
$672,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Petco Vaccination Clinic — 5825 Leesburg Pike, Bailey's Crossroads, VA 22041
Frequently Asked Questions
What type of property is this?
Medical Office Space - Move-in ready medical condo suite with four exam rooms, reception area, bathroom, and computer room.
Where is this medical office space located?
The property is located at 611 Carlin Springs Road Arlington, VA.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Move‑in ready medical condo suite with 4 exam rooms, plumbing, and sinks; Includes reception area, bathroom, and computer room; Two entrances to the office
