631 Carlisle Dr #631, Herndon, VA 20170

Building Details

Year Built 1980 More

Listing Agency: EAST COAST COMMERCIAL INVESTMENT REALTY, LLC Show Phone

Listed By: GEORGE DUNGAN · License VA #0225201842 Show Phone

Source: Corcoran

Added: Dec 11, 2025 Changed: Sep 3 Last Checked: Aug 14 at 6:03AM

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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 EAST COAST COMMERCIAL INVESTMENT REALTY, LLC

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Investment Insights

Based on property information with market context.

This flex-type warehouse, offered for sale, features a primarily open space layout with a single restroom. The property includes a 14-foot high roll-up grade-level door and an 18-foot clear ceiling height. The total size is approximately 1,700 square feet. It is located within the Carlisle Drive Business Center, which hosts a mix of contractors, light manufacturing, and distribution businesses. The location is just off Elden Street, near the Fairfax County Parkway and Reston.

Key Highlights

• Functional warehouse space offering 1,700 sq ft.
• Convenient location near Fairfax County Parkway and Reston.
• 14' high roll‑up grade‑level door provides easy access.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,813

Cap Rate

4.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$436,260 $436.3K

Cap Rate 7%

$311,614 $311.6K

Cap Rate 9%

$242,367 $242.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,700 SF

Gross rent

$35.7K $21.00/SF

− Vacancy

−$2.1K −$1.26/SF

EGI

$33.6K $19.74/SF

− OpEx

−$11.7K −$6.91/SF

NOI

$21.8K $12.83/SF

Area

Fairfax County, VA

Vacancy

6.00%

Lease Rate

$21.00 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$436,260

Cap Rate 7%

$311,614

Cap Rate 9%

$242,367

Alternative Uses

Best Use

Flex RnD

$311.6K

$272.7K – $363.6K (±1% cap)

NOI $21,813 @ 7.0% cap · market cap 4.08%

Second Best

Industrial

$244.8K

$214.2K – $285.6K (±1% cap)

NOI $17,136 @ 7.0% cap · market cap 3.20%

Theoretical Best

Specialty Retail

$944.2K

$826.2K – $1.10M (±1% cap)

NOI $66,096 @ 7.0% cap · market cap 12.35%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Building Supply Auto Parts Store Auto Repair Shop Electrical Service Big Box & Wholesale Store Storage Facility

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

3,375

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 20170, VA

42,756

Population

14,084

Households

3

Avg Household Size

36

Median Age

57%

College-Educated

87%

High-School Grad

8.8 sq mi

ZIP Area

4,859

Density / Sq Mi

$157,875

Median Household Income

$59,119

Median Earnings

$2,224

Median Rent

$625,600

Median Home Value

Market

Average Price Trend$/SF for Flex space in Fairfax County, VA

$235 Jul

$242 Aug

$251 Sep

$294 Oct

Properties on Market for Flex space in Fairfax County

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Similar Off Market Nearby

• Eric Fleischer Catering — 273 Sunset Park Dr, Herndon, VA 20170
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Frequently Asked Questions

What type of property is this?

Flex space - Flex warehouse with 14' roll-up door and 18' ceilings.

Where is this flex space located?

The property is located at 631 Carlisle Dr #631 Herndon, VA.

What is the asking price?

The asking price for this property is $535,000.

What are key features of this property?

This property features: Functional warehouse space offering 1,700 sq ft.; Convenient location near Fairfax County Parkway and Reston.; 14' high roll‑up grade‑level door provides easy access.