Ground-Floor Corner Office
For Sale
$395,000
7202 Poplar Street Unit 1, Annandale, VA 22003
Flexible professional suite with private offices, sink-equipped rooms, central air, and a private powder room.
Property Size700 SF
Price / SF$564.29
Days on Market381
Property Features for 7202 Poplar Street Unit 1
General Information
Standard status
Active
Size
700 SF
Property subtype
Office
Additional Details
Floor
Ground Floor
Office Units
2
Taxes and HOA fees
Annual Taxes
$3,852
Amenities
private powder room
Central Air
3
430
Parking.
Lot.
Other.
Building Details
Year Built
1981
Construction
brick
Tenancy
Multi
Listing Agency:
Century 21 Redwood Realty
(540) 226-9246
Listed By:
Lisa Nelson · License #0225099597
(540) 226-9246
Source:
Xome
Added: Aug 18, 2025
Changed: Sep 2
Last Checked: Aug 30 at 2:04PM
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 Century 21 Redwood Realty
Investment Insights
Based on property information with market context.
This approximately 700-square-foot ground-floor office unit is positioned at the corner of a brick business park and receives natural light from windows on multiple sides. The layout includes a reception area, three private offices, two offices with sinks, durable laminate flooring, and a private powder room with an updated vanity. Central air supports year-round interior comfort.
Built in 1981, the property is located within a wellness-focused business park with a health and wellness-oriented tenant mix. The suite was previously occupied by a printing and copy shop and offers a practical configuration for professional or personal-service uses supported by the existing private rooms and plumbing fixtures.
Built in 1981, the property is located within a wellness-focused business park with a health and wellness-oriented tenant mix. The suite was previously occupied by a printing and copy shop and offers a practical configuration for professional or personal-service uses supported by the existing private rooms and plumbing fixtures.
Key Highlights
- Approximately 700 square feet of office space
- Ground‑floor corner unit in a brick business park
- Windows on multiple sides provide natural light
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
$13,251
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
3.35%
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%
$265,020
$265.0K
Cap Rate 7%
$189,300
$189.3K
Cap Rate 9%
$147,233
$147.2K
Market Conditions
NOI Build-Up for 700 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
$20.7K $29.52/SF
− Vacancy
−$3.0K −$4.28/SF
EGI
$17.7K $25.24/SF
− OpEx
−$4.4K −$6.31/SF
NOI
$13.3K $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%
$265,020
Cap Rate 7%
$189,300
Cap Rate 9%
$147,233
Alternative Uses
Best Use
Office B
$189.3K
$165.6K – $220.9K
NOI $13,251 @ 7.0% cap · market cap 3.35%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.93M
$2.57M – $3.42M
NOI $205,396 @ 7.0% cap · market cap 52.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,896
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 - Flexible professional suite with private offices, sink-equipped rooms, central air, and a private powder room.
Where is this office units located?
The property is located at 7202 Poplar Street Unit 1 Annandale, VA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Approximately 700 square feet of office space; Ground‑floor corner unit in a brick business park; Windows on multiple sides provide natural light
