Fairfax Office Building For
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3022 Javier Rd, Fairfax, VA 22031
19,329 SF office building in Fairfax, Virginia.
Property Size19,329 SF
Price / SF$356.98
Days on Market668
Property Features for 3022 Javier Rd
General Information
Standard status
Active
Size
19,329 SF
Class
B
Total Parking Spaces
61
Property subtype
Office
Zoning
C-3
Occupancy
48%
Investment Type
Owner/User
Building Details
Year Built
1982
Listing Agency:
Serafin Real Estate
Listed By:
Joe Serafin · License #VA 0225239987
(703) 261-4809
Source:
Crexi
Added: Nov 5, 2024
Changed: Aug 24
Last Checked: Aug 31 at 10:08PM
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 Serafin Real Estate
Investment Insights
Based on property information with market context.
Located off Route 50 in Fairfax, Virginia, this 19,329 SF office building presents an opportunity for owner-users or value-add investors. The property is situated in the Merrifield submarket of Fairfax County, minutes from I-495 and I-66, and near Inova Fairfax Hospital. The building is currently 58% leased and has 42% vacant usable space. The current NOI is $269,205. Recent capital improvements include a new Firestone roof installed in 2020 and 14 HVAC units, most of which have been recently replaced. The C-3 zoning permits future expansion, allowing construction up to 65 feet, subject to county approval. The site includes 61 surface parking spaces. The location benefits from high-density traffic and strong local demographics. The property is near major highways and Washington Dulles and Reagan National Airports. The building is suited for medical, professional, or investment use.
Key Highlights
- Strategic location in the Merrifield submarket of Fairfax County, with easy access to Route 50, I‑495, and I‑66.
- Attractive seller financing available at a competitive 4.625% interest rate.
- Value‑add opportunity with 42% vacant usable space, allowing for owner‑user occupancy and potential rental income growth.
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
$365,892
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
5.30%
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%
$7,317,840
$7.3M
Cap Rate 7%
$5,227,029
$5.2M
Cap Rate 9%
$4,065,467
$4.1M
Market Conditions
NOI Build-Up for 19,329 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
$570.6K $29.52/SF
− Vacancy
−$82.7K −$4.28/SF
EGI
$487.9K $25.24/SF
− OpEx
−$122.0K −$6.31/SF
NOI
$365.9K $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%
$7,317,840
Cap Rate 7%
$5,227,029
Cap Rate 9%
$4,065,467
Alternative Uses
Best Use
Office B
$5.23M
$4.57M – $6.10M
NOI $365,892 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$81.02M
$70.89M – $94.53M
NOI $5,671,564 @ 7.0% cap · market cap 82.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,776
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Office building - 19,329 SF office building in Fairfax, Virginia.
Where is this office building located?
The property is located at 3022 Javier Rd Fairfax, VA.
What is the asking price?
The asking price for this property is $6,900,000.
What are key features of this property?
This property features: Strategic location in the Merrifield submarket of Fairfax County, with easy access to Route 50, I‑495, and I‑66.; Attractive seller financing available at a competitive 4.625% interest rate.; Value‑add opportunity with **42% vacant usable space**, allowing for owner‑user occupancy and potential rental income growth.
