Renovation-Ready Residential Income
For Sale
$495,000
8350 GREENSBORO DRIVE Unit 608, Mc Lean, VA 22102
Spacious condo with east-facing views, private storage, and access to extensive indoor and outdoor community amenities.
Property Size1,327 SF
Price / SF$373.02
Days on Market20
Property Features for 8350 GREENSBORO DRIVE Unit 608
General Information
Standard status
Active
Size
1,327 SF
Property subtype
Unit/Flat/Apartment
Property Condition
Severity
Repairs Needed
Evidence
incredible potential to renovate
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,189
Amenities
balcony
private storage unit
indoor swimming pool
outdoor swimming pool
fitness center
tennis courts
pickleball courts
volleyball courts
basketball courts
EV charging stations
car wash area
scenic walking paths
Building Details
Building Size
1,327 SF
Year Built
1978
Listing Agency:
Samson Properties
(703) 981-8218
Listed By:
Ulla Lifflander · License #0225199602
(703) 981-8218
Source:
Kerishull
Added: Aug 12
Changed: Aug 28
Last Checked: Aug 29 at 4:11PM
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 Samson Properties
Investment Insights
Based on property information with market context.
Unit 608 is a 1,327-square-foot condominium built in 1978, offering east-facing views, substantial closet and storage space, and a private storage unit within the building. The residence includes a 13-by-9-foot balcony and a kitchen layout that may support a more open connection to the living area, subject to applicable approvals and construction requirements. The property is positioned for renovation rather than presented as a finished interior.
Residents have direct building access to The Rotonda’s amenities across 33 landscaped acres. Facilities include indoor and outdoor swimming pools, four lighted tennis courts, pickleball, volleyball and basketball courts, a fitness center, EV charging stations, and a car wash area with vacuum and tire-pressure equipment. Whole Foods Market, the Spring Hill and Greensboro Metro Stations, Tysons, I-495, I-66, and the Dulles Toll Road are nearby, while Dulles International Airport is less than 10 miles away.
Residents have direct building access to The Rotonda’s amenities across 33 landscaped acres. Facilities include indoor and outdoor swimming pools, four lighted tennis courts, pickleball, volleyball and basketball courts, a fitness center, EV charging stations, and a car wash area with vacuum and tire-pressure equipment. Whole Foods Market, the Spring Hill and Greensboro Metro Stations, Tysons, I-495, I-66, and the Dulles Toll Road are nearby, while Dulles International Airport is less than 10 miles away.
Key Highlights
- 1,327‑square‑foot condominium with east‑facing views
- 13‑by‑9‑foot balcony plus private storage unit in the building
- Direct access to The Rotonda’s indoor and outdoor amenities
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
$19,864
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
4.01%
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%
$397,280
$397.3K
Cap Rate 7%
$283,771
$283.8K
Cap Rate 9%
$220,711
$220.7K
Market Conditions
NOI Build-Up for 1,327 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
$38.2K $28.80/SF
− Vacancy
−$2.1K −$1.58/SF
EGI
$36.1K $27.22/SF
− OpEx
−$16.3K −$12.25/SF
NOI
$19.9K $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%
$397,280
Cap Rate 7%
$283,771
Cap Rate 9%
$220,711
Alternative Uses
Best Use
Apartment 5plus
$283.8K
$248.3K – $331.1K
NOI $19,864 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.56M
$4.87M – $6.49M
NOI $389,372 @ 7.0% cap · market cap 78.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,228
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 - Spacious condo with east-facing views, private storage, and access to extensive indoor and outdoor community amenities.
Where is this residential income property located?
The property is located at 8350 GREENSBORO DRIVE Unit 608 Mc Lean, VA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 1,327‑square‑foot condominium with east‑facing views; 13‑by‑9‑foot balcony plus private storage unit in the building; Direct access to The Rotonda’s indoor and outdoor amenities
