Two-Level Office
For Sale
$450,000
6213 Old Keene Mill Ct Unit 14, Springfield, VA 22152
Tenant-occupied office condominium in Springfield with a two-level layout and established commercial use.
Property Size1,693 SF
Price / SF$265.80
Days on Market18
Property Features for 6213 Old Keene Mill Ct Unit 14
General Information
Standard status
Active
Size
1,693 SF
Occupancy
100%
Building Details
Year Built
1978
Stories
2
Tenancy
Single
Owner Occupied
No
Listing Agency:
Mega Realty & Investment Inc
Listed By:
Joanne Chae-Hwa Cha, Sung C Cha · License #0225078794
(703) 642-6342
Source:
Lgagne
Added: Aug 16
Changed: Sep 2
Last Checked: Sep 1 at 8:36PM
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 condominium is located at 6213 Old Keene Mill Ct Unit 14 in Springfield, Virginia. The property was built in 1978 and is currently occupied by a tenant, providing an existing office configuration for continued commercial use.
The unit is positioned within a commercial setting with access to Old Keene Mill Ct. Its two-level design offers a defined office layout, while the existing tenancy provides an established occupancy profile for an investor or future owner-user.
The unit is positioned within a commercial setting with access to Old Keene Mill Ct. Its two-level design offers a defined office layout, while the existing tenancy provides an established occupancy profile for an investor or future owner-user.
Key Highlights
- Two‑level office condominium
- Currently occupied by a tenant
- Located at 6213 Old Keene Mill Ct Unit 14
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
7.12%
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 7.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.10M
$6.21M – $8.28M
NOI $496,764 @ 7.0% cap · market cap 110.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
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
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Frequently Asked Questions
What type of property is this?
Office units - Tenant-occupied office condominium in Springfield with a two-level layout and established commercial use.
Where is this office units located?
The property is located at 6213 Old Keene Mill Ct Unit 14 Springfield, 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: Two‑level office condominium; Currently occupied by a tenant; Located at 6213 Old Keene Mill Ct Unit 14
