Office Building with Conference
For Sale
$1,580,000
8442 Old Keene Mill Road West, Springfield, VA 22152
Versatile layout includes multiple offices, a conference room, and a kitchenette.
Property Size6,000 SF
Days on Market195
Property Features for 8442 Old Keene Mill Road West
General Information
Standard status
Active
Size
6,000 SF
Class
C
Property subtype
Multi Tenant Office
Building Details
Building Size
6,000 SF
Properties For Sale
at 8442 Old Keene Mill Road West Contact us- Size
- 6,000 SF
- Lease Type
- NNN
Building
Listing Agency:
Tartan Properties Commercial
(703) 836-6558
Listed By:
Michael Porterfield · License #0225044112
(703) 836-6558
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 8:52AM
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 Tartan Properties Commercial
Investment Insights
Based on property information with market context.
The property is a 6,000 SF office building at 8442 Old Keene Mill Road in West Springfield. Its interior includes multiple offices, a conference room, and a kitchenette, providing an established framework for professional operations. Modern amenities and infrastructure support a functional workplace, while the adaptable floor plan can accommodate customized office arrangements.
The property includes ample parking and benefits from proximity to major roadways and public transportation. The surrounding area features restaurants, retail, and recreational amenities, with Springfield Town Center identified among the nearby destinations. Its suburban setting offers access to community conveniences while remaining connected to broader transportation options.
The property includes ample parking and benefits from proximity to major roadways and public transportation. The surrounding area features restaurants, retail, and recreational amenities, with Springfield Town Center identified among the nearby destinations. Its suburban setting offers access to community conveniences while remaining connected to broader transportation options.
Key Highlights
- 6,000 SF office building at 8442 Old Keene Mill Road
- Multiple offices plus a dedicated conference room
- Kitchenette included within the office layout
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
$113,578
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
7.19%
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%
$2,271,560
$2.3M
Cap Rate 7%
$1,622,543
$1.6M
Cap Rate 9%
$1,261,978
$1.3M
Market Conditions
NOI Build-Up for 6,000 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
$177.1K $29.52/SF
− Vacancy
−$25.7K −$4.28/SF
EGI
$151.4K $25.24/SF
− OpEx
−$37.9K −$6.31/SF
NOI
$113.6K $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%
$2,271,560
Cap Rate 7%
$1,622,543
Cap Rate 9%
$1,261,978
Alternative Uses
Best Use
Office B
$1.62M
$1.42M – $1.89M
NOI $113,578 @ 7.0% cap · market cap 7.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$25.15M
$22.01M – $29.34M
NOI $1,760,535 @ 7.0% cap · market cap 111.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
858
Businesses Nearby
Explore this area
Business Placement
Demographics for 22152, VA
29,843
Population
9,779
Households
3.1
Avg Household Size
40
Median Age
64%
College-Educated
94%
High-School Grad
6.0 sq mi
ZIP Area
4,974
Density / Sq Mi
$159,557
Median Household Income
$73,552
Median Earnings
$2,495
Median Rent
$620,200
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 building - Versatile layout includes multiple offices, a conference room, and a kitchenette.
Where is this office building located?
The property is located at 8442 Old Keene Mill Road West Springfield, VA.
What is the asking price?
The asking price for this property is $1,580,000.
What are key features of this property?
This property features: 6,000 SF office building at 8442 Old Keene Mill Road; Multiple offices plus a dedicated conference room; Kitchenette included within the office layout
