Upgraded Office
New
For Sale
$499,990
8304-B OLD COURTHOUSE Road, Vienna, VA 22182
Commercial Sale - VIENNA, VA
Property Size1,331 SF
Price / SF$375.65
Days on Market5
Property Features for 8304-B OLD COURTHOUSE Road
General Information
Property type
Other
Property subtype
Office
Parking
2
Parking features
Parking Lot
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
6137
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1980
Building materials
Brick
Listing Agency:
Samson Properties
(703) 378-8810
Listed By:
Chul Kim · License #0225081749
(571) 758-2995
Added: Aug 5
Last Checked: Aug 9 at 5:06PM
MLS# VAFX2333488
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 1,331 SF second-floor office condo has a corner-unit layout with five private rooms and a shared reception or collaboration area. The space is suited to professional or medical use and includes central heating and central air. Upgrades completed in 2024 include LVP flooring, a renovated bathroom, LED lighting, a smart thermostat, additional network outlets, two dry erase boards, and a smart lock. A TV may also convey.
The property is located in Centennial Plaza business park with surface parking available. I-495 and Route 7 are nearby, while Tysons Corner Center is within walking distance for shopping, dining, and other amenities. The 1980-built building features brick construction.
The property is located in Centennial Plaza business park with surface parking available. I-495 and Route 7 are nearby, while Tysons Corner Center is within walking distance for shopping, dining, and other amenities. The 1980-built building features brick construction.
Key Highlights
- 1,331 SF second‑floor office condo with corner exposure
- Five private rooms plus a shared common area
- 2024 updates include LVP flooring, renovated bathroom, LED lighting, and smart thermostat
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
$25,195
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
5.04%
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%
$503,900
$503.9K
Cap Rate 7%
$359,929
$359.9K
Cap Rate 9%
$279,944
$279.9K
Market Conditions
NOI Build-Up for 1,331 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
$39.3K $29.52/SF
− Vacancy
−$5.7K −$4.28/SF
EGI
$33.6K $25.24/SF
− OpEx
−$8.4K −$6.31/SF
NOI
$25.2K $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%
$503,900
Cap Rate 7%
$359,929
Cap Rate 9%
$279,944
Alternative Uses
Best Use
Office B
$359.9K
$314.9K – $419.9K
NOI $25,195 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.58M
$4.88M – $6.51M
NOI $390,545 @ 7.0% cap · market cap 78.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5,090
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Second-floor corner suite with flexible rooms, updated finishes, and abundant natural light for professional or medical use.
Where is this office units located?
The property is located at 8304-B OLD COURTHOUSE Road Vienna, VA.
What is the asking price?
The asking price for this property is $499,990.
What are key features of this property?
This property features: 1,331 SF second‑floor office condo with corner exposure; Five private rooms plus a shared common area; 2024 updates include LVP flooring, renovated bathroom, LED lighting, and smart thermostat
