Two-Story Office
For Sale
$510,000
7006 EVERGREEN COURT, Annandale, VA 22003
Well-maintained two-level office space with an atrium entry and baths on each floor, suited for professional use.
Property Size1,885 SF
Price / SF$270.56
Days on Market350
Property Features for 7006 EVERGREEN COURT
General Information
Standard status
Active
Size
1,885 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$5,554
Amenities
Heat Pump
3
Parking.
Lot.
Other.
Building Details
Year Built
1981
Stories
2
Listing Agency:
Fairfax Realty 50/66 LLC
(703) 989-4301
Listed By:
Young Lee Hwang · License #0225083501
(703) 989-4301
Source:
Xome
Added: Sep 7, 2025
Changed: Aug 12
Last Checked: Aug 21 at 4:28AM
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 Fairfax Realty 50/66 LLC
Investment Insights
Based on property information with market context.
This two-level office suite totals 1,885 square feet and is entered through an atrium. The interior offers bright office space on both floors and includes restrooms with baths on each level. The property is described as being in excellent condition, with a new roof, fresh exterior paint, and strong utilities to support day-to-day operations.
The building is located in Annandale in a well-managed development inside the Beltway, between Columbia Pike and Little River Turnpike. The setting supports convenient access for business occupants and visitors.
Designed for professional tenants, the split layout creates separate floors for teams, client-facing offices, or back-office functions while keeping facilities on both levels. With exterior updates and a recent roof, the suite presents as a turn-key option for an office user seeking a maintained environment within a managed complex.
The building is located in Annandale in a well-managed development inside the Beltway, between Columbia Pike and Little River Turnpike. The setting supports convenient access for business occupants and visitors.
Designed for professional tenants, the split layout creates separate floors for teams, client-facing offices, or back-office functions while keeping facilities on both levels. With exterior updates and a recent roof, the suite presents as a turn-key option for an office user seeking a maintained environment within a managed complex.
Key Highlights
- 1,885 SF two‑level office space inside the Beltway in Annandale
- Atrium entry opens to bright office space, with baths on each floor
- New roof and fresh exterior paint; described as in excellent condition
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
$35,682
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
7.00%
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%
$713,640
$713.6K
Cap Rate 7%
$509,743
$509.7K
Cap Rate 9%
$396,467
$396.5K
Market Conditions
NOI Build-Up for 1,885 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
$55.6K $29.52/SF
− Vacancy
−$8.1K −$4.28/SF
EGI
$47.6K $25.24/SF
− OpEx
−$11.9K −$6.31/SF
NOI
$35.7K $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%
$713,640
Cap Rate 7%
$509,743
Cap Rate 9%
$396,467
Alternative Uses
Best Use
Office B
$509.7K
$446.0K – $594.7K
NOI $35,682 @ 7.0% cap · market cap 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.90M
$6.91M – $9.22M
NOI $553,101 @ 7.0% cap · market cap 108.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,636
Businesses Nearby
Explore this area
Business Placement
Demographics for 22003, VA
59,372
Population
19,497
Households
3
Avg Household Size
39
Median Age
51%
College-Educated
87%
High-School Grad
12.6 sq mi
ZIP Area
4,712
Density / Sq Mi
$134,109
Median Household Income
$54,906
Median Earnings
$1,988
Median Rent
$694,300
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 - Well-maintained two-level office space with an atrium entry and baths on each floor, suited for professional use.
Where is this office units located?
The property is located at 7006 EVERGREEN COURT Annandale, VA.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: 1,885 SF two‑level office space inside the Beltway in Annandale; Atrium entry opens to bright office space, with baths on each floor; New roof and fresh exterior paint; described as in excellent condition
