Renovated Top-Floor Income
For Sale
$595,000
8350 GREENSBORO DRIVE Unit 626, Mc Lean, VA 22102
Updated condominium residence with a sunroom, upgraded kitchen, in-unit laundry, and access to extensive community amenities.
Property Size1,685 SF
Price / SF$353.12
Days on Market12
Property Features for 8350 GREENSBORO DRIVE Unit 626
General Information
Standard status
Active
Size
1,685 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,108
Amenities
sunroom
in-unit laundry
indoor pool
outdoor pool
fitness center
tennis courts
clubhouse
game room
gated entrance
security
Building Details
Building Size
1,685 SF
Year Built
1978
Year Renovated
2026
Listing Agency:
Corcoran McEnearney
(703) 798-4089
Listed By:
Renneye L Pike · License #0225046189
(703) 798-4089
Source:
Kerishull
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 30 at 9:53PM
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 Corcoran McEnearney
Investment Insights
Based on property information with market context.
This top-floor, two-bedroom, two-bath condominium at 8350 Greensboro Drive includes an open interior layout, an enclosed balcony converted to a sunroom with heated tile flooring, and a separate in-unit laundry area with storage. The kitchen has upgraded countertops, a breakfast area, and appliances installed in June 2026, including an induction cooktop, wall oven, refrigerator, and microwave; transferable five-year warranties are included. A custom granite table may also convey. The primary bathroom features a soaking tub and a newly installed glass-enclosed shower. LVP flooring was added throughout the main living areas in 2026, while both bedrooms have carpeting. West-facing windows capture sunset, city, and mountain views.
The Rotonda community includes indoor and outdoor pools, a fitness center, tennis courts, a clubhouse, and a game room. The property has a gated entrance and security features, with access to major transportation options, the airport, and Silver Line Metro stations. The HVAC system was replaced in 2023, and the residence was built in 1978.
The Rotonda community includes indoor and outdoor pools, a fitness center, tennis courts, a clubhouse, and a game room. The property has a gated entrance and security features, with access to major transportation options, the airport, and Silver Line Metro stations. The HVAC system was replaced in 2023, and the residence was built in 1978.
Key Highlights
- Top‑floor two‑bedroom, two‑bath condominium at 8350 Greensboro Drive, Unit 1017
- Sunroom with heated tile flooring created from an enclosed balcony
- Kitchen appliances installed in June 2026 with transferable five‑year warranties
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
$25,222
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
4.24%
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%
$504,440
$504.4K
Cap Rate 7%
$360,314
$360.3K
Cap Rate 9%
$280,244
$280.2K
Market Conditions
NOI Build-Up for 1,685 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
$48.5K $28.80/SF
− Vacancy
−$2.7K −$1.58/SF
EGI
$45.9K $27.22/SF
− OpEx
−$20.6K −$12.25/SF
NOI
$25.2K $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%
$504,440
Cap Rate 7%
$360,314
Cap Rate 9%
$280,244
Alternative Uses
Best Use
Apartment 5plus
$360.3K
$315.3K – $420.4K
NOI $25,222 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.06M
$6.18M – $8.24M
NOI $494,417 @ 7.0% cap · market cap 83.10%
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
4,228
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 - Updated condominium residence with a sunroom, upgraded kitchen, in-unit laundry, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 8350 GREENSBORO DRIVE Unit 626 Mc Lean, VA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Top‑floor two‑bedroom, two‑bath condominium at 8350 Greensboro Drive, Unit 1017; Sunroom with heated tile flooring created from an enclosed balcony; Kitchen appliances installed in June 2026 with transferable five‑year warranties
