Residential Income Property with Rooftop
For Sale
$609,000
8220 CRESTWOOD HEIGHTS DRIVE Unit 511, Mc Lean, VA 22102
Fifth-floor condominium with a den, two full bathrooms, hardwood floors, and a custom kitchen with granite finishes.
Property Size1,215 SF
Price / SF$501.23
Days on Market12
Property Features for 8220 CRESTWOOD HEIGHTS DRIVE Unit 511
General Information
Standard status
Active
Size
1,215 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1BR+Den/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,313
Amenities
rooftop pool
rooftop lounge
rooftop entertainment area
24-hour security
guest suites
Building Details
Building Size
1,215 SF
Year Built
2008
Listing Agency:
Spring Hill Real Estate, LLC.
(703) 577-2494
Listed By:
Amen Ashabi · License #0225204743
(703) 577-2494
Source:
Kerishull
Added: Aug 11
Changed: Aug 20
Last Checked: Aug 21 at 10:38AM
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 Spring Hill Real Estate, LLC.
Investment Insights
Based on property information with market context.
This fifth-floor condominium offers a one-bedroom-plus-den layout with two full bathrooms and flexible interior space for an office, study, guest area, or additional living area. The residence includes a custom kitchen with granite countertops and stainless-steel appliances, premium hardwood flooring, and large windows oriented toward panoramic views. Built in 2008, the home has had limited occupancy since its purchase in 2012.
Building amenities include an 18th-floor rooftop swimming pool, rooftop lounge, entertainment area, 24-hour security, and guest suites. The property is in Tysons Corner in McLean, near The Boro, Whole Foods Market, restaurants, shopping, entertainment, and everyday services. Silver Line Metro access provides connections throughout Tysons, Northern Virginia, and Washington, DC.
Building amenities include an 18th-floor rooftop swimming pool, rooftop lounge, entertainment area, 24-hour security, and guest suites. The property is in Tysons Corner in McLean, near The Boro, Whole Foods Market, restaurants, shopping, entertainment, and everyday services. Silver Line Metro access provides connections throughout Tysons, Northern Virginia, and Washington, DC.
Key Highlights
- 1‑bedroom plus den condominium with 2 full bathrooms
- Custom kitchen with granite countertops and stainless‑steel appliances
- Premium hardwood flooring and large windows with panoramic views
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
$18,187
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
2.99%
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%
$363,740
$363.7K
Cap Rate 7%
$259,814
$259.8K
Cap Rate 9%
$202,078
$202.1K
Market Conditions
NOI Build-Up for 1,215 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
$35.0K $28.80/SF
− Vacancy
−$1.9K −$1.58/SF
EGI
$33.1K $27.22/SF
− OpEx
−$14.9K −$12.25/SF
NOI
$18.2K $14.97/SF
Area
Fairfax County, VA
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
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%
$363,740
Cap Rate 7%
$259,814
Cap Rate 9%
$202,078
Alternative Uses
Best Use
Apartment 5plus
$259.8K
$227.3K – $303.1K
NOI $18,187 @ 7.0% cap · market cap 2.99%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.09M
$4.46M – $5.94M
NOI $356,508 @ 7.0% cap · market cap 58.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,474
Businesses Nearby
Explore this area
Business Placement
Demographics for 22102, VA
27,743
Population
14,274
Households
1.9
Avg Household Size
37
Median Age
81%
College-Educated
99%
High-School Grad
12.3 sq mi
ZIP Area
2,256
Density / Sq Mi
$153,816
Median Household Income
$93,200
Median Earnings
$2,471
Median Rent
$1,003,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Fifth-floor condominium with a den, two full bathrooms, hardwood floors, and a custom kitchen with granite finishes.
Where is this residential income property located?
The property is located at 8220 CRESTWOOD HEIGHTS DRIVE Unit 511 Mc Lean, VA.
What is the asking price?
The asking price for this property is $609,000.
What are key features of this property?
This property features: 1‑bedroom plus den condominium with 2 full bathrooms; Custom kitchen with granite countertops and stainless‑steel appliances; Premium hardwood flooring and large windows with panoramic views
