Medical Office Condo in Medical
For Sale
$585,000
8622-B LEE Highway, Fairfax, VA 22031
Commercial Sale - FAIRFAX, VA
Property Size1,700 SF
Price / SF$344.12
Days on Market214
Property Features for 8622-B LEE Highway
General Information
Property type
Other
Property subtype
Office
Parking features
Driveway
Elementary school
FAIRHILL
High school
FALLS CHURCH
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
4599
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1988
Building materials
Brick
Listing Agency:
United Realty, Inc.
(703) 204-1188
Listed By:
Tony O Yeh · License #0225110440
(202) 257-0830
Added: Jan 30
Changed: May 4
Last Checked: Sep 1 at 2:06AM
MLS# VAFX2287994
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 offering is a medical office condo (approximately 1,700 SF) for sale, currently set up for an OBGYN and skin rejuvenation practice. The sale includes all furniture, fixtures, and equipment, as well as the real estate.
The property is located along Lee Highway within a dedicated medical office park. The listing notes low fees of $400 and convenient access to nearby interstates including 495 and 66.
For parties seeking an owner-occupied or suite-based setup in a medical office environment, this condo provides a turnkey, practice-ready configuration as presented in the listing materials.
The property is located along Lee Highway within a dedicated medical office park. The listing notes low fees of $400 and convenient access to nearby interstates including 495 and 66.
For parties seeking an owner-occupied or suite-based setup in a medical office environment, this condo provides a turnkey, practice-ready configuration as presented in the listing materials.
Key Highlights
- Medical condo approx. 1,700 SF in a dedicated medical office park on Lee Hwy
- Brick construction with forced‑air heating and central air conditioning
- Includes all furniture, fixtures, and equipment, plus the real estate
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
$32,180
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
5.50%
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%
$643,600
$643.6K
Cap Rate 7%
$459,714
$459.7K
Cap Rate 9%
$357,556
$357.6K
Market Conditions
NOI Build-Up for 1,700 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
$50.2K $29.52/SF
− Vacancy
−$7.3K −$4.28/SF
EGI
$42.9K $25.24/SF
− OpEx
−$10.7K −$6.31/SF
NOI
$32.2K $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%
$643,600
Cap Rate 7%
$459,714
Cap Rate 9%
$357,556
Alternative Uses
Best Use
Office B
$459.7K
$402.3K – $536.3K
NOI $32,180 @ 7.0% cap · market cap 5.50%
Second Best
Healthcare Medical
$442.5K
$387.2K – $516.3K
NOI $30,977 @ 7.0% cap · market cap 5.30%
Theoretical Best
Specialty Retail
$7.13M
$6.24M – $8.31M
NOI $498,818 @ 7.0% cap · market cap 85.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,545
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 22031, VA
35,256
Population
15,390
Households
2.3
Avg Household Size
36
Median Age
72%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
4,966
Density / Sq Mi
$129,743
Median Household Income
$74,178
Median Earnings
$2,267
Median Rent
$710,400
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.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical condo in a dedicated office park sold with furniture, fixtures, and equipment, supporting an OBGYN/skin rejuvenation practice.
Where is this medical office space located?
The property is located at 8622-B LEE Highway Fairfax, VA.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Medical condo approx. 1,700 SF in a dedicated medical office park on Lee Hwy; Brick construction with forced‑air heating and central air conditioning; Includes all furniture, fixtures, and equipment, plus the real estate
