Two-Level Office
New
For Sale
$510,000
7006 Evergreen Ct Unit 3, Annandale, VA 22003
Two-level office unit with an atrium entry and bathrooms serving each floor.
Property Size1,885 SF
Price / SF$270.56
Days on Market3
Property Features for 7006 Evergreen Ct Unit 3
General Information
Standard status
Active
Size
1,885 SF
Amenities
atrium entry
baths on each floor
Building Details
Year Built
1981
Listing Agency:
Fairfax Realty
Listed By:
Young H Lee Hwang · License #0225083501
(703) 989-4301
Source:
Premierehomegroup
Added: Sep 15
Changed: Sep 16
Last Checked: Sep 17 at 12:26AM
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
Investment Insights
Based on property information with market context.
This 1,885-square-foot office unit occupies two levels within a professional development at 7006 Evergreen Ct Unit 3. An atrium entry opens to bright office areas, with bathrooms located on both floors. The property was built in 1981 and has benefited from a new roof and fresh exterior paint.
The Annandale location is inside the Beltway, positioned between Columbia Pike and Little River Turnpike. The unit is suited to professional office use and combines a two-floor layout with recently completed exterior improvements.
The Annandale location is inside the Beltway, positioned between Columbia Pike and Little River Turnpike. The unit is suited to professional office use and combines a two-floor layout with recently completed exterior improvements.
Key Highlights
- 1,885‑square‑foot office unit arranged across two levels
- Atrium entry with bright office areas
- Bathrooms located on each floor
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
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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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Two-level office unit with an atrium entry and bathrooms serving each floor.
Where is this office units located?
The property is located at 7006 Evergreen Ct Unit 3 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‑square‑foot office unit arranged across two levels; Atrium entry with bright office areas; Bathrooms located on each floor
