Office Condo with Dual
For Sale
$210,000
75 LEE STREET, Warrenton, VA 20186
Office condominium in Old Town Warrenton with central air and on-site parking.
Property Size897 SF
Price / SF$234.11
Days on Market167
Property Features for 75 LEE STREET
General Information
Standard status
Active
Size
897 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$1,193
Amenities
Central Air
3
Parking.
Lot.
0.00 x 0.00
Building Details
Year Built
1986
Listing Agency:
(540) 270-4819
Listed By:
Ross Real Estate
(540) 270-4819
Source:
Xome
Added: Mar 10
Changed: Aug 17
Last Checked: Aug 23 at 3:56AM
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 Ross Real Estate
Investment Insights
Based on property information with market context.
This office condominium offers an estimated 897 square feet with two independent entrances, central air, and on-site parking. The property was built in 1986 and is currently occupied by an esthetician under a lease running through 11/30/2026.
Located at 75 Lee Street in Old Town Warrenton, the property is within walking distance of Main Street. Showings are available by appointment and should be coordinated without disturbing the current tenant.
Located at 75 Lee Street in Old Town Warrenton, the property is within walking distance of Main Street. Showings are available by appointment and should be coordinated without disturbing the current tenant.
Key Highlights
- Estimated 897 SF office condominium
- Two independent entrances provide separate access points
- Currently leased through 11/30/2026
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
$12,010
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
5.72%
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%
$240,200
$240.2K
Cap Rate 7%
$171,571
$171.6K
Cap Rate 9%
$133,444
$133.4K
Market Conditions
NOI Build-Up for 897 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
$18.7K $20.88/SF
− Vacancy
−$2.7K −$3.03/SF
EGI
$16.0K $17.85/SF
− OpEx
−$4.0K −$4.46/SF
NOI
$12.0K $13.39/SF
Area
Fauquier County, VA
Vacancy
14.50%
Lease Rate
$20.88 /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%
$240,200
Cap Rate 7%
$171,571
Cap Rate 9%
$133,444
Alternative Uses
Best Use
Office B
$171.6K
$150.1K – $200.2K
NOI $12,010 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$498.2K
$435.9K – $581.3K
NOI $34,875 @ 7.0% cap · market cap 16.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,447
Businesses Nearby
Explore this area
Business Placement
Demographics for 20186, VA
15,171
Population
6,114
Households
2.5
Avg Household Size
43
Median Age
44%
College-Educated
93%
High-School Grad
58.7 sq mi
ZIP Area
258
Density / Sq Mi
$100,813
Median Household Income
$50,533
Median Earnings
$1,541
Median Rent
$485,000
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 - Office condominium in Old Town Warrenton with central air and on-site parking.
Where is this office units located?
The property is located at 75 LEE STREET Warrenton, VA.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Estimated 897 SF office condominium; Two independent entrances provide separate access points; Currently leased through 11/30/2026
