Contiguous Office Condominium
New
For Sale
$799,000
731 Walker Rd #a2 And B2, Great Falls, VA 22066
Upper-level commercial space with office and retail zoning, internal connectivity, and prominent building signage.
Property Size1,725 SF
Price / SF$463.19
Days on Market5
Property Features for 731 Walker Rd #a2 And B2
General Information
Standard status
Active
Size
1,725 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Office Units
2
Taxes and HOA fees
Annual Taxes
$6,594
Amenities
illuminated building signage
Building Details
Year Built
1984
Listing Agency:
SAMSON PROPERTIES
(703) 378-8810
Listed By:
BONNIE H WOLFE · License #0225078568
(703) 930-5692
Source:
Corcoran
Added: Sep 13
Changed: Sep 17
Last Checked: Sep 16 at 1:53PM
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 SAMSON PROPERTIES
Investment Insights
Based on property information with market context.
This office condominium offering combines Units A-2 and B-2 as contiguous upper-level space with an internal connection. The 1725+ SF layout includes an open area, a restroom, an administrative/work area, and two private offices. The end-unit configuration supports collaborative workspace, meeting areas, or multiple office arrangements, while zoning allows both office and retail uses.
Located at 731 Walker Rd near the Georgetown Pike and Walker Road intersection, the property has illuminated signage above the entrances and sits within the professionally managed Great Falls Business Center. The center contains 16 individually owned commercial condominium units with a mix of professional and retail businesses. Great Falls Village Centre is within walking distance, and the property is positioned between Tysons and Reston with access to Dulles International Airport, the Silver Line Metro, and I-495.
Located at 731 Walker Rd near the Georgetown Pike and Walker Road intersection, the property has illuminated signage above the entrances and sits within the professionally managed Great Falls Business Center. The center contains 16 individually owned commercial condominium units with a mix of professional and retail businesses. Great Falls Village Centre is within walking distance, and the property is positioned between Tysons and Reston with access to Dulles International Airport, the Silver Line Metro, and I-495.
Key Highlights
- 1725+ SF across two contiguous office condominium units
- Units A‑2 and B‑2 connect internally on the upper level
- Open area, administrative/work area, two private offices, and restroom
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
$32,654
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
4.09%
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%
$653,080
$653.1K
Cap Rate 7%
$466,486
$466.5K
Cap Rate 9%
$362,822
$362.8K
Market Conditions
NOI Build-Up for 1,725 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
$50.9K $29.52/SF
− Vacancy
−$7.4K −$4.28/SF
EGI
$43.5K $25.24/SF
− OpEx
−$10.9K −$6.31/SF
NOI
$32.7K $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%
$653,080
Cap Rate 7%
$466,486
Cap Rate 9%
$362,822
Alternative Uses
Best Use
Office B
$466.5K
$408.2K – $544.2K
NOI $32,654 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.23M
$6.33M – $8.44M
NOI $506,154 @ 7.0% cap · market cap 63.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
Explore this area
Business Placement
Demographics for 22066, VA
18,165
Population
5,852
Households
3.1
Avg Household Size
45
Median Age
85%
College-Educated
99%
High-School Grad
25.6 sq mi
ZIP Area
710
Density / Sq Mi
$250,001
Median Household Income
$123,162
Median Earnings
$3,501
Median Rent
$1,240,100
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 - Upper-level commercial space with office and retail zoning, internal connectivity, and prominent building signage.
Where is this office units located?
The property is located at 731 Walker Rd #a2 And B2 Great Falls, VA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 1725+ SF across two contiguous office condominium units; Units A‑2 and B‑2 connect internally on the upper level; Open area, administrative/work area, two private offices, and restroom
