Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    502 Broad St Falls Church, VA 22046

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime location, 2,961 sq ft available.

    Lot size:
    2,961 SF

    Property Features for 502 Broad St

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    2,961 SF
    Total Rate
    10363.5

    Spaces For Lease

    at 502 Broad St, Falls Church, VA 22046 Contact us
    Unit Available Space

    $45 /Mo

    Size
    1,511 SF
    Contact us
    Unit Retail Space

    $45 /Mo

    Size
    1,450 SF
    Contact us

    We can help!

    Listing Contact
    Erik Ulsaker
    Erik Ulsaker

    Listing Agency: Divaris Real Estate, Inc Listing Agent: Erik Ulsaker

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 2,961 square foot medical office space, located at 502 W Broad St in Falls Church, Virginia (zip code 22046), presents a unique investment opportunity. The property, situated within "The Broadway" mixed-use condominium building, boasts excellent visibility on West Broad Street, offering high foot traffic and prominent street presence. Currently, the entire building is vacant and available for lease. The space is configured as two suites
    Property Profile Location Intelligence

    Current Use by Public Records

    ANDY MOORE Pediatrician Hair & Nail Boutique Nail Salon Main Entry on Lee ... Condominium Complex Broadway of Falls Church Condominium Complex Patient First Primary ... Medical Clinic

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Falls Church
    County
    Falls Church
    State
    Virginia
    Longitude
    -77.178101
    Latitude
    38.887262

    Nearby Similar for Lease

    • $3,500 /Mo

      Furnished Room in Upscale Building

      Furnished room suitable for various professionals in Falls Church.
      7115 Leesburg Pike, Falls Church, VA 22043
      View Details
    • $2,500 /Mo
      27,443 SF

      Falls Church Office Suite Rental

      Three-room office suite in Falls Church with ample parking.
      417 Broad St W, Falls Church, VA 22046
      View Details
    • $4,020 /Mo

      Falls Church Office Suite

      Office suite with multiple offices, coffee bars, and restroom.
      200 Little Falls St, Falls Church, VA 22046
      View Details
    • $5,192 /Mo
      10,454 SF

      Falls Church Office Space Available

      Two-floor office space near City Hall with parking and amenities.
      301 Park Ave, Falls Church, VA 22046
      View Details
    • $1,100 /Mo
      1,307 SF

      Renovated Office Space For Lease

      Fully furnished office spaces with shared amenities, near Metro and Route 66.
      252 Washington St N, Falls Church, VA 22046
      View Details
    • $2,600 /Mo
      1,742 SF

      Office Condo in Falls Church

      Ready-to-lease office condo with conference room and natural light.
      7657 Leesburg Pike, Falls Church, VA 22043
      View Details
    • $650 /Mo
      7,405 SF

      Office Space For Lease

      Office space for lease near Route 66 in Falls Church.
      7139 Shreve Rd, Falls Church, VA 22043
      View Details
    • $8,450 /Mo

      Retail Space on Leesburg Pike

      Retail spaces available, high-traffic location on Leesburg Pike.
      5924 Leesburg Pike, Falls Church, VA 22041
      View Details
    • $2,800 /Mo

      Bright Office Space Available

      Large, bright office space in a convenient Falls Church location.
      5985 Columbia Pike, Falls Church, VA 22041
      View Details
    • $900 /Mo
      23,087 SF

      Office Space in Falls Church

      Upper-level office space with reception and windowed inner office.
      210 Broad St E, Falls Church, VA 22046
      View Details
    • $900 /Mo
      23,087 SF

      Office Space in Falls Church

      Office space for lease in Falls Church, Virginia.
      210 Broad St E, Falls Church, VA 22046
      View Details
    • $2,500 /Mo

      Office Suite with Broad Street View

      Three-room office suite with abundant natural light and convenient parking.
      417 Broad St W 207, Falls Church, VA 22046
      View Details

    FAQs

    What type of property is this?
    Neighborhood center - Prime location, 2,961 sq ft available.
    Where is this neighborhood center located?
    The property is located at 502 Broad St Falls Church, VA.
    What is the lease rate?
    The lease rate is $45 SF/Yr.
    What are key features of this property?
    This property features: High-traffic street visibility.; Excellent urban location with high density.; Pedestrian-friendly, walkable neighborhood.
    (571) 455-7021 Call to check price and availability
    Request Owner's contact information
    502 Broad St Falls Church, VA 22046
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    502 Broad St
    Falls Church, VA 22046
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    502 Broad St Falls Church, VA 22046
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Erik Ulsaker
    Erik Ulsaker
    Real Estate License ID: 0225097564
    (571) 455-7021 (703) 861-0373 (703) 506-2850
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!