Three-Level Downtown Office
For Sale
$2,500,000
847 Station St, Herndon, VA 20170
Own a multi-level downtown office building with three floors of office space.
Property Size8,234 SF
Price / SF$303.62
Days on Market97
Property Features for 847 Station St
General Information
Standard status
Active
Size
8,234 SF
Building Details
Year Built
1922
Stories
3
Listing Agency:
Wellborn Management Co., Inc.
Listed By:
Vincent L Alexander
Source:
Lgagne
Added: Jun 3
Changed: Sep 4
Last Checked: Sep 6 at 11:33AM
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 Wellborn Management Co., Inc.
Investment Insights
Based on property information with market context.
This offering presents a commercial office building featuring three levels of office space. The building is positioned for an owner-occupant or investor seeking a straightforward, multi-floor office configuration.
The property is located in Downtown Herndon, VA, at 847 Station Street. The public remarks indicate that office space across three levels is available, supporting a tenant-ready layout for office uses.
From a leasing and ownership standpoint, the three-floor configuration can accommodate a range of office occupancies, whether you plan to occupy a portion and lease the remainder or market the full building for a single tenant. For buyers and brokers, the key advantage here is the clear, defined multi-level office footprint within the downtown market.
The property is located in Downtown Herndon, VA, at 847 Station Street. The public remarks indicate that office space across three levels is available, supporting a tenant-ready layout for office uses.
From a leasing and ownership standpoint, the three-floor configuration can accommodate a range of office occupancies, whether you plan to occupy a portion and lease the remainder or market the full building for a single tenant. For buyers and brokers, the key advantage here is the clear, defined multi-level office footprint within the downtown market.
Key Highlights
- Commercial office building built in 1922
- Multi‑level building offering three levels of office space
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
$155,867
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
6.23%
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%
$3,117,340
$3.1M
Cap Rate 7%
$2,226,671
$2.2M
Cap Rate 9%
$1,731,856
$1.7M
Market Conditions
NOI Build-Up for 8,234 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
$243.1K $29.52/SF
− Vacancy
−$35.2K −$4.28/SF
EGI
$207.8K $25.24/SF
− OpEx
−$52.0K −$6.31/SF
NOI
$155.9K $18.93/SF
Area
Loudoun 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%
$3,117,340
Cap Rate 7%
$2,226,671
Cap Rate 9%
$1,731,856
Alternative Uses
Best Use
Office B
$2.23M
$1.95M – $2.60M
NOI $155,867 @ 7.0% cap · market cap 6.23%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.58M
$2.26M – $3.01M
NOI $180,633 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,354
Businesses Nearby
Explore this area
Business Placement
Demographics for 20170, VA
42,756
Population
14,084
Households
3
Avg Household Size
36
Median Age
57%
College-Educated
87%
High-School Grad
8.8 sq mi
ZIP Area
4,859
Density / Sq Mi
$157,875
Median Household Income
$59,119
Median Earnings
$2,224
Median Rent
$625,600
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 building - Own a multi-level downtown office building with three floors of office space.
Where is this office building located?
The property is located at 847 Station St Herndon, VA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Commercial office building built in 1922; Multi‑level building offering three levels of office space
