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    319 Mill St Vienna, VA 22180

    Sponsored
    For Sale
    $8,500,000

    High-yield industrial investment, 100% occupied.

    Property size:
    22,640 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 22,640-square-foot Class B industrial flex/warehouse property located at 319 Mill Street NE, Vienna, VA 22180. Boasting a 6.06% cap rate and a stabilized NOI of $514,895, this multi-tenant property offers significant returns. The building, constructed in 1995, sits on a 19,824-square-foot lot and features 4 loading docks, 4 dock-high doors, and an impressive 18-foot ceiling height. Ample parking is provided with 39 spaces. Currently 100% occupied since October 24, 2023, the property benefits from a strong tenant base with leases structured as NNN (Net, Net, Net), ensuring minimal landlord responsibilities. Leases include 3 or 4% annual rent bumps, providing consistent income growth. The property is zoned CM (Town of Vienna) and enjoys a prime location in Northern Virginia, conveniently situated near major roadways including I-495, I-66, and Route 123, providing easy access to the Tysons Corner business and retail market. The asking price is $8,500,000, translating to a price per square foot of $375.44. The ownership structure is a Limited Liability Corporation. Lease options include five-year terms. A minimum tenant improvement (TI) package is offered upon lease execution. This property represents a rare opportunity to acquire a high-performing industrial asset in a highly desirable location.

    Property Features for 319 Mill St

    General Information

    Property type
    Distribution properties
    Square Feet
    22,640 SF
    Class
    B

    Building Details

    Year Built
    1995

    HighLights

    • 22,640 SF Class B industrial flex/warehouse in Vienna, VA.
    • 6.06% cap rate, $514,895 stabilized NOI, $8,500,000 asking price ($375.44/SF).
    • 100% occupied since October 24, 2023, with NNN leases including annual rent bumps.
    • Prime Northern Virginia location near I‑495, I‑66, and Route 123, serving the Tysons Corner market.
    Property Profile Location Intelligence

    Current Use by Public Records

    Karla Colletto Swimwear ... Swimwear Store Legend Wrestling Club Youth Club FSO Academy Training Centre Velocity Dance Dance School Cooper Materials Handling General Contractor

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Vienna
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.2672706
    Latitude
    38.9060016

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    FAQs

    What type of property is this?
    Distribution property - High-yield industrial investment, 100% occupied.
    Where is this distribution property located?
    The property is located at 319 Mill St Vienna, VA.
    What is the asking price?
    The asking price for this property is $8,500,000.
    What are key features of this property?
    This property features: 22,640 SF Class B industrial flex/warehouse in Vienna, VA.; 6.06% cap rate, $514,895 stabilized NOI, $8,500,000 asking price ($375.44/SF).; 100% occupied since October 24, 2023, with NNN leases including annual rent bumps.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    319 Mill St Vienna, VA 22180
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