Renovated Residential
7094 SPRING GARDEN DRIVE Unit 202, Springfield, VA 22150
For Sale
$290,000
Grocery stores and restaurants are within walking distance.
Property Size863 SF
Price / SF$336.04
Days on Market137
Property Features for 7094 SPRING GARDEN DRIVE Unit 202
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Spring Hill Real Estate, LLC.
Listed By:
Luis E Cruz · License #0225227046
(571) 279-3608
Source:
Irvinrealtyllc
Added: Jun 26
Changed: Nov 1
Last Checked: Nov 8 at 8:43AM
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 Spring Hill Real Estate, LLC.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This renovated condominium contains 863 square feet. The building dates to 1964.
Grocery stores and restaurants are accessible on foot, and Springfield Mall is a five-minute trip away.
Grocery stores and restaurants are accessible on foot, and Springfield Mall is a five-minute trip away.
Key Highlights
- Renovated condominium with 863 square feet
- Building constructed in 1964
- Grocery stores and restaurants within walking distance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,918
Cap Rate
4.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$258,360
$258.4K
Cap Rate 7%
$184,543
$184.5K
Cap Rate 9%
$143,533
$143.5K
Market Conditions
NOI Build-Up for 863 SF
Gross rent
$24.9K $28.80/SF
− Vacancy
−$1.4K −$1.58/SF
EGI
$23.5K $27.22/SF
− OpEx
−$10.6K −$12.25/SF
NOI
$12.9K $14.97/SF
Area
Fairfax County, VA
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$258,360
Cap Rate 7%
$184,543
Cap Rate 9%
$143,533
Alternative Uses
Best Use
Apartment 5plus
$184.5K
$161.5K – $215.3K
NOI $12,918 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$479.3K
$419.4K – $559.2K
NOI $33,553 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,538
Businesses Nearby
Explore this area
Business Placement
Demographics for 22150, VA
27,955
Population
9,695
Households
2.9
Avg Household Size
40
Median Age
45%
College-Educated
88%
High-School Grad
7.6 sq mi
ZIP Area
3,678
Density / Sq Mi
$120,406
Median Household Income
$47,412
Median Earnings
$2,631
Median Rent
$617,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential income property - Grocery stores and restaurants are within walking distance.
Where is this residential income property located?
The property is located at 7094 SPRING GARDEN DRIVE Unit 202 Springfield, VA.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Renovated condominium with 863 square feet; Building constructed in 1964; Grocery stores and restaurants within walking distance
