Fourth-Floor Office
For Sale
$1,200,000
8230 BOONE Boulevard, Vienna, VA 22182
Commercial Sale, VIENNA, VA
Property Size2,369 SF
Price / SF$506.54
Days on Market68
Property Features for 8230 BOONE Boulevard
General Information
Property type
Other
Property subtype
Office
Parking
120
Parking features
Parking Lot
High school
MARSHALL
Elementary school district
FAIRFAX COUNTY PUBLIC SCHOOLS
Middle school district
FAIRFAX COUNTY PUBLIC SCHOOLS
High school district
FAIRFAX COUNTY PUBLIC SCHOOLS
Standard status
Active
Taxes and HOA fees
Tax Annual Amount
13054
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1980
Building materials
Concrete, Mixed
Listing Agency:
Keller Williams Realty/Lee Beaver & Assoc.
(703) 330-2222
Listed By:
Edward A. Martin · License #0225075345
(703) 867-3350
Added: Jun 26
Changed: Aug 23
Last Checked: Sep 1 at 6:06AM
MLS# VAFX2324076
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.
Investment Insights
Based on property information with market context.
This professionally finished office unit occupies the 4th floor and offers 2,369+/- SF of workspace. The layout includes a reception area connected to the building lobby, a central conference room, two window-lined private offices, a full kitchen, and a multipurpose room. The room can support team gatherings, studio functions, client events, or adaptable workspace arrangements.
Windows overlook Route 7, while the property is a short walk from Greensboro Metro Station on the Silver Line. Vehicle access connects the office to Tysons’ major arteries and employment, retail, and dining areas. Building features include concrete and mixed construction, central heating and central air, a parking lot, and a 1980 construction date.
Windows overlook Route 7, while the property is a short walk from Greensboro Metro Station on the Silver Line. Vehicle access connects the office to Tysons’ major arteries and employment, retail, and dining areas. Building features include concrete and mixed construction, central heating and central air, a parking lot, and a 1980 construction date.
Key Highlights
- 2,369+/- SF office unit on the 4th floor
- Reception area, central conference room, and two window‑lined private offices
- Full kitchen and multipurpose room for flexible workspace needs
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
$44,844
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
3.74%
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%
$896,880
$896.9K
Cap Rate 7%
$640,629
$640.6K
Cap Rate 9%
$498,267
$498.3K
Market Conditions
NOI Build-Up for 2,369 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
$69.9K $29.52/SF
− Vacancy
−$10.1K −$4.28/SF
EGI
$59.8K $25.24/SF
− OpEx
−$14.9K −$6.31/SF
NOI
$44.8K $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%
$896,880
Cap Rate 7%
$640,629
Cap Rate 9%
$498,267
Alternative Uses
Best Use
Office B
$640.6K
$560.6K – $747.4K
NOI $44,844 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.93M
$8.69M – $11.59M
NOI $695,118 @ 7.0% cap · market cap 57.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,704
Businesses Nearby
Explore this area
Business Placement
Demographics for 22182, VA
27,778
Population
10,285
Households
2.7
Avg Household Size
42
Median Age
82%
College-Educated
97%
High-School Grad
12.5 sq mi
ZIP Area
2,222
Density / Sq Mi
$200,038
Median Household Income
$102,749
Median Earnings
$2,618
Median Rent
$1,086,600
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 - Finished professional suite with reception, conference, private offices, kitchen, and flexible multipurpose space.
Where is this office units located?
The property is located at 8230 BOONE Boulevard Vienna, VA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 2,369+/- SF office unit on the 4th floor; Reception area, central conference room, and two window‑lined private offices; Full kitchen and multipurpose room for flexible workspace needs
