Two-Level Office
For Sale
$510,000
7006 EVERGREEN Court, Annandale, VA 22003
Commercial Sale - ANNANDALE, VA
Property Size1,885 SF
Price / SF$270.56
Days on Market349
Property Features for 7006 EVERGREEN Court
General Information
Property type
Other
Property subtype
Office
Parking
2
Parking features
Parking Lot
Elementary school district
FAIRFAX COUNTY PUBLIC SCHOOLS
Middle school district
FAIRFAX COUNTY PUBLIC SCHOOLS
High school district
FAIRFAX COUNTY PUBLIC SCHOOLS
Standard status
Active
Taxes and HOA fees
Tax Annual Amount
5554
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Building Details
Year built
1981
Building materials
Brick
Listing Agency:
Fairfax Realty
(703) 766-2710
Listed By:
Young H Lee Hwang · License #0225083501
(703) 989-4301
Added: Sep 18, 2025
Changed: Jun 9
Last Checked: Sep 1 at 8:06PM
MLS# VAFX2268454
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale office space is configured as a two-level suite reached through an atrium entry. The layout provides bright office areas on both floors and includes bathrooms on each level. The property is described as being in excellent condition, supported by a new roof and fresh exterior paint, along with strong utilities.
The building is located within the Beltway in Annandale, VA, positioned between Columbia Pike and Little River Turnpike. The remarks describe the space as being part of an attractive, well-managed development.
For buyers seeking professional office use, the two-floor arrangement with bathrooms on each level can support day-to-day operations and internal workflow needs. Recent exterior and roof improvements, together with the stated utility readiness, may help reduce near-term property maintenance concerns for an office operator or professional tenant.
The building is located within the Beltway in Annandale, VA, positioned between Columbia Pike and Little River Turnpike. The remarks describe the space as being part of an attractive, well-managed development.
For buyers seeking professional office use, the two-floor arrangement with bathrooms on each level can support day-to-day operations and internal workflow needs. Recent exterior and roof improvements, together with the stated utility readiness, may help reduce near-term property maintenance concerns for an office operator or professional tenant.
Key Highlights
- Prime location inside the Beltway, near Columbia Pike and Little River Turnpike.
- 1,885 sq ft two‑level office space.**
- Excellent condition with new roof and fresh exterior paint.
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Bright two-level office suite with atrium entry and baths on each floor in excellent condition.
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: Prime location inside the Beltway, near Columbia Pike and Little River Turnpike.; 1,885 sq ft two‑level office space.**; Excellent condition with new roof and fresh exterior paint.
