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    Two-Level Office Space Investment Title is generated by Realmo AI

    7013 Backlick Court, Springfield, VA 22151

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    For Sale
    $425,000

    Tenant-occupied office space near I-495, great investment opportunity.

    Type:Office
    Property size:
    1,880 SF
    Price / SF:
    $226/SF
    Added:
    Mar 27, 2024
    Days on Market:
    804
    Last Refresh:
    May 13 at 8:50 pm

    Property Features for 7013 Backlick Court

    General Information

    Standard status
    Active
    Size
    1,880 SF
    Property subtype
    Office

    Building Details

    Year Built
    1978

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    Listing Contact
    Renee Mumford

    Listing agent Renee Mumford

    Listing office Key Home Realty Group

    Listing date Mar 27, 2024

    Source Xome

    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 Key Home Realty Group

    HighLights

    • Tenant in place with lease extending to 2026, providing immediate rental income.
    • Convenient location inside the beltway with quick access to I‑495.
    • Two‑level "townhouse" style office space with separate offices, conference rooms, kitchenettes/break rooms, and restrooms on each level.
    • Well‑managed condo association maintains the exterior and parking lot.
    • Located in North Springfield Professional Center, primarily occupied by medical and professional services.
    • Adequate unassigned parking available.

    Overview

    This is a two-level, townhouse-style office space featuring separate offices, conference rooms, kitchenettes/break rooms, and two restrooms, one on each level. The property is currently tenant-occupied under a lease agreement that extends to 2026 with escalations. The quarterly condo dues at North Springfield Professional Center are $1142.92. Parking is unassigned and generally adequate. The condo association maintains the exterior and parking lot. The tenant is responsible for interior repairs. Located inside the beltway, the property offers quick access to I-495. Most offices in the complex are occupied by medical or other professional services. The property is well-managed and presents a wonderful investment opportunity.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $55.5k $29.52
    − Vacancy −$8.0k −$4.28
    EGI $47.5k $25.24
    − OpEx −$11.9k −$6.31
    NOI $35.6k $18.93
    1,880 SF · lease $29.52/SF/yr · vacancy 14.50% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $508.4K
    $444.9K – $593.1K (±1% cap)
    NOI $35,588 @ 7.0% cap · market cap 8.37%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Specialty Retail
    $7.88M
    $6.90M – $9.19M (±1% cap)
    NOI $551,634 @ 7.0% cap · market cap 129.80%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Trans American Travel Travel Agency Fassity Home Care ... Home Health Care Service Black Blade Associates, ... Consultant

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.1857706
    Latitude
    38.8012593

    FAQs

    What type of property is this?
    Office units - Tenant-occupied office space near I-495, great investment opportunity.
    Where is this office units located?
    The property is located at 7013 Backlick Court Springfield, VA.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: Tenant in place with lease extending to 2026, providing immediate rental income.; Convenient location inside the beltway with quick access to I‑495.; Two‑level "townhouse" style office space with separate offices, conference rooms, kitchenettes/break rooms, and restrooms on each level.
    More about this property
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