Remodeled Office
New
For Sale
$257,000
6371 ROLLING MILL PLACE, Springfield, VA 22152
Ground-level suite offers four keyed offices, reception and waiting areas, and an accessible restroom for professional occupancy.
Property Size941 SF
Price / SF$273.11
Days on Market7
Property Features for 6371 ROLLING MILL PLACE
General Information
Standard status
Active
Size
941 SF
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Floor
Ground Floor
Taxes and HOA fees
Annual Taxes
$2,446
Amenities
Central Air
Carpet
Parking.
Lot.
Building Details
Year Built
1989
Year Renovated
2024
Stories
1
Listing Agency:
Kinder-Realty
(703) 278-8885
Listed By:
Kinder Saund
(703) 278-8885
Source:
Xome
Added: Aug 16
Changed: Aug 22
Last Checked: Aug 22 at 6:02AM
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 Kinder-Realty
Investment Insights
Based on property information with market context.
This 941-square-foot office condominium is located on the ground level with walk-in access. The layout includes four private offices, each with a separate key, along with a large reception and waiting area and a wheelchair-accessible restroom. Central air and carpet are provided, and the interior was remodeled and updated in 2024. The building dates to 1989.
The property is within Springfield Rolling Mill Professional Park, just off Old Keene Mill Road in West Springfield. A parking lot serves the property, and the location is approximately 3 miles from the Springfield Mixing Bowl. Major highway connections include I395, I95, I495, and Fairfax County Parkway, with Washington, DC, Arlington, Alexandria, DCA airport, Woodbridge, and Tysons within the stated approximate drive distances.
The space is suitable for medical, financial, training, spa, salon, learning center, dance, and other professional uses. Furnishings may be included if needed, and the property is available immediately.
The property is within Springfield Rolling Mill Professional Park, just off Old Keene Mill Road in West Springfield. A parking lot serves the property, and the location is approximately 3 miles from the Springfield Mixing Bowl. Major highway connections include I395, I95, I495, and Fairfax County Parkway, with Washington, DC, Arlington, Alexandria, DCA airport, Woodbridge, and Tysons within the stated approximate drive distances.
The space is suitable for medical, financial, training, spa, salon, learning center, dance, and other professional uses. Furnishings may be included if needed, and the property is available immediately.
Key Highlights
- 941 SF ground‑level office condo with walk‑in access
- Four private offices with separate keys, plus reception and waiting areas
- Remodeled and updated in 2024; building constructed in 1989
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
$17,813
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
6.93%
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%
$356,260
$356.3K
Cap Rate 7%
$254,471
$254.5K
Cap Rate 9%
$197,922
$197.9K
Market Conditions
NOI Build-Up for 941 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
$27.8K $29.52/SF
− Vacancy
−$4.0K −$4.28/SF
EGI
$23.8K $25.24/SF
− OpEx
−$5.9K −$6.31/SF
NOI
$17.8K $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%
$356,260
Cap Rate 7%
$254,471
Cap Rate 9%
$197,922
Alternative Uses
Best Use
Office B
$254.5K
$222.7K – $296.9K
NOI $17,813 @ 7.0% cap · market cap 6.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.94M
$3.45M – $4.60M
NOI $276,111 @ 7.0% cap · market cap 107.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
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 - Ground-level suite offers four keyed offices, reception and waiting areas, and an accessible restroom for professional occupancy.
Where is this office units located?
The property is located at 6371 ROLLING MILL PLACE Springfield, VA.
What is the asking price?
The asking price for this property is $257,000.
What are key features of this property?
This property features: 941 SF ground‑level office condo with walk‑in access; Four private offices with separate keys, plus reception and waiting areas; Remodeled and updated in 2024; building constructed in 1989
