Ground-Floor Medical Office
For Sale
$2,313,780
8136 Old Keene Mill Rd Unit A-100, Springfield, VA 22152
Existing exam rooms, offices, a conference room, and accessible entry doors support clinical and administrative functions.
Property Size9,444 SF
Price / SF$245
Days on Market26
Property Features for 8136 Old Keene Mill Rd Unit A-100
General Information
Standard status
Active
Size
9,444 SF
Property subtype
Commercial
Building Details
Year Built
1972
Listing Agency:
Wellborn Management Co., Inc.
Listed By:
Vincent L Alexander · License #0225076619
(703) 464-7009
Source:
Baltimoreharfordhomesforsale
Added: Aug 14
Changed: Sep 8
Last Checked: Sep 8 at 2:48PM
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 Wellborn Management Co., Inc.
Investment Insights
Based on property information with market context.
Located at 8136 Old Keene Mill Rd Unit A-100 in Springfield, Virginia, this 9,444-square-foot medical office property occupies a ground-floor position within a building constructed in 1972. The space was formerly used by the Fairfax County Health Department as an office and clinic.
The interior includes multiple exam rooms, dedicated office areas, and a conference room. Ground-level access is provided through handicap-accessible doors, giving the layout a practical foundation for medical and administrative operations.
The interior includes multiple exam rooms, dedicated office areas, and a conference room. Ground-level access is provided through handicap-accessible doors, giving the layout a practical foundation for medical and administrative operations.
Key Highlights
- 9,444‑square‑foot medical office property
- Former Fairfax County Health Department office and clinic
- Ground‑floor entrance with handicap‑accessible doors
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
$178,772
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
7.73%
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%
$3,575,440
$3.6M
Cap Rate 7%
$2,553,886
$2.6M
Cap Rate 9%
$1,986,356
$2.0M
Market Conditions
NOI Build-Up for 9,444 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
$278.8K $29.52/SF
− Vacancy
−$40.4K −$4.28/SF
EGI
$238.4K $25.24/SF
− OpEx
−$59.6K −$6.31/SF
NOI
$178.8K $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%
$3,575,440
Cap Rate 7%
$2,553,886
Cap Rate 9%
$1,986,356
Alternative Uses
Best Use
Office B
$2.55M
$2.23M – $2.98M
NOI $178,772 @ 7.0% cap · market cap 7.73%
Second Best
Healthcare Medical
$2.46M
$2.15M – $2.87M
NOI $172,086 @ 7.0% cap · market cap 7.44%
Theoretical Best
Specialty Retail
$39.59M
$34.64M – $46.18M
NOI $2,771,082 @ 7.0% cap · market cap 119.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
803
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 22152, VA
29,843
Population
9,779
Households
3.1
Avg Household Size
40
Median Age
64%
College-Educated
94%
High-School Grad
6.0 sq mi
ZIP Area
4,974
Density / Sq Mi
$159,557
Median Household Income
$73,552
Median Earnings
$2,495
Median Rent
$620,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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- Colvin Alex DVM — Springfield, VA 22152, United States
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- Animal Teachers Enterprises — 5902 Queenston St G, Springfield, VA 22152
Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing exam rooms, offices, a conference room, and accessible entry doors support clinical and administrative functions.
Where is this medical office space located?
The property is located at 8136 Old Keene Mill Rd Unit A-100 Springfield, VA.
What is the asking price?
The asking price for this property is $2,313,780.
What are key features of this property?
This property features: 9,444‑square‑foot medical office property; Former Fairfax County Health Department office and clinic; Ground‑floor entrance with handicap‑accessible doors
