Two-Level Office Condo For
For Sale
$500,000
6213 Old Keene Mill Ct #14, Springfield, VA 22152
Two-level office condo in desirable location with tenant in place.
Property Size1,693 SF
Price / SF$295.33
Days on Market111
Property Features for 6213 Old Keene Mill Ct #14
General Information
Standard status
Active
Size
1,693 SF
Zoning
420
Taxes and HOA fees
Annual Taxes
$3,733
Amenities
Central Air
Forced Air, Electric
Electric Water Heater
Building Details
Building Size
1,693 SF
Year Built
1978
Listing Agency:
Mega Realty & Investment Inc
(202) 812-4680
Listed By:
Joanne Chae-Hwa Cha · License #0225249837
(202) 812-4680
Source:
Evrealestate
Added: May 12
Changed: Aug 23
Last Checked: Aug 29 at 6:31AM
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 Mega Realty & Investment Inc
Investment Insights
Based on property information with market context.
This two-level office condo presents a prime investment opportunity in a highly desirable location. The property is currently occupied by a tenant, offering immediate rental income potential. The layout is designed for excellent accessibility and visibility. It is ideal for investors or future owner-users.
Key Highlights
- Immediate rental income potential from existing tenant.
- Highly desirable location.
- Two‑level office condo.
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
$32,048
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
6.41%
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%
$640,960
$641.0K
Cap Rate 7%
$457,829
$457.8K
Cap Rate 9%
$356,089
$356.1K
Market Conditions
NOI Build-Up for 1,693 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
$50.0K $29.52/SF
− Vacancy
−$7.2K −$4.28/SF
EGI
$42.7K $25.24/SF
− OpEx
−$10.7K −$6.31/SF
NOI
$32.0K $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%
$640,960
Cap Rate 7%
$457,829
Cap Rate 9%
$356,089
Alternative Uses
Best Use
Office B
$457.8K
$400.6K – $534.1K
NOI $32,048 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.10M
$6.21M – $8.28M
NOI $496,764 @ 7.0% cap · market cap 99.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
858
Businesses Nearby
Explore this area
Business Placement
Demographics for 22152, VA
29,843
Population
9,779
Households
3.1
Avg Household Size
40
Median Age
64%
College-Educated
94%
High-School Grad
6.0 sq mi
ZIP Area
4,974
Density / Sq Mi
$159,557
Median Household Income
$73,552
Median Earnings
$2,495
Median Rent
$620,200
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.
Frequently Asked Questions
What type of property is this?
Office units - Two-level office condo in desirable location with tenant in place.
Where is this office units located?
The property is located at 6213 Old Keene Mill Ct #14 Springfield, VA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Immediate rental income potential from existing tenant.; Highly desirable location.; Two‑level office condo.
