Office Townhouse with Dual
7297 ROUTE 29, Falls Church, VA 22042
For Sale
$550,000
Commercial Sale, FALLS CHURCH, VA
Property Size1,500 SF
Price / SF$366.67
Days on Market224
Property Features for 7297 ROUTE 29
General Information
Property type
Property subtype
Parking
Parking features
Subdivision
Elementary school district
Middle school district
High school district
Standard status
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Cooling system
Building Details
Year built
Number of units
Building materials
Listing Agency:
Berkshire Hathaway HomeServices PenFed Realty
(703) 281-8500
Listed By:
Lisa M Ducibella · License VA #0225073106
(703) 725-5225
Added: Apr 1
Changed: Oct 21
Last Checked: Nov 10 at 6:06PM
MLS# VAFX2297488
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.
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Investment Insights
Based on property information with market context.
This two-story office townhouse offers more than 1,500 square feet, with 750 square feet on each floor. The layout has two distinct, lockable areas with private offices and reception rooms, and can serve one business or be divided between two. A half bath is located on each level; the upper floor also has a separate staircase. The property includes central air conditioning, zoned cooling, forced-air heat, and space for a kitchen or kitchenette. Recent work includes new plumbing fixtures, water heater, and electrical panel. The condo association has installed windows and architectural roofing and maintains the exterior and grounds.
The 13-unit business park sits at Lee Highway and Graham Road, with access to Route 29, I-66, the Metro, and downtown Falls Church. Rear windows overlook the James Lee Conservation Area. Parking is assigned and provided in a lot.
The 13-unit business park sits at Lee Highway and Graham Road, with access to Route 29, I-66, the Metro, and downtown Falls Church. Rear windows overlook the James Lee Conservation Area. Parking is assigned and provided in a lot.
Key Highlights
- More than 1,500 square feet across two floors, with 750 square feet per floor
- Flexible layout with two lockable office areas, reception rooms, and private offices
- Half bath on each floor; upper level has a separate staircase
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,395
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$567,900
$567.9K
Cap Rate 7%
$405,643
$405.6K
Cap Rate 9%
$315,500
$315.5K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$44.3K $29.52/SF
− Vacancy
−$6.4K −$4.28/SF
EGI
$37.9K $25.24/SF
− OpEx
−$9.5K −$6.31/SF
NOI
$28.4K $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 Rate 5%
$567,900
Cap Rate 7%
$405,643
Cap Rate 9%
$315,500
Alternative Uses
Best Use
Office B
$405.6K
$354.9K – $473.3K
NOI $28,395 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$833.1K
$729.0K – $972.0K
NOI $58,320 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
491
Businesses Nearby
Explore this area
Business Placement
Demographics for 22042, VA
34,638
Population
12,598
Households
2.7
Avg Household Size
37
Median Age
55%
College-Educated
86%
High-School Grad
6.4 sq mi
ZIP Area
5,412
Density / Sq Mi
$135,578
Median Household Income
$60,264
Median Earnings
$2,178
Median Rent
$666,700
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Falls Church, VA
Properties on Market for Office Units in Falls Church
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Commercial zoning and adaptable floorplans accommodate one or two businesses.
Where is this office unit located?
The property is located at 7297 ROUTE 29 Falls Church, VA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: More than 1,500 square feet across two floors, with 750 square feet per floor; Flexible layout with two lockable office areas, reception rooms, and private offices; Half bath on each floor; upper level has a separate staircase
