Medical Office Space with PT
For Sale
Contact for pricing
8230 Boone Blvd, Vienna, VA 22182
Fully renovated medical office suite with reception, treatment rooms, x-ray area, and an attached PT gym space.
Property Size6,980 SF
Price / SF$495
Days on Market508
Property Features for 8230 Boone Blvd
General Information
Standard status
Active
Size
6,980 SF
Property subtype
OFFICE
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Listing Agency:
Divaris Real Estate | Washington DC
(703) 861-0373
Listed By:
Erik Ulsaker · License #SP98377091
Source:
Moodyscre
Added: Apr 10, 2025
Changed: Aug 23
Last Checked: Aug 29 at 6:30AM
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 Divaris Real Estate | Washington DC
Investment Insights
Based on property information with market context.
Fully renovated medical office space designed for healthcare and patient services, with a reception area and waiting room, four large windowed offices, five treatment rooms, an x-ray area, and a kitchen. The office connects to a large PT gym area with its own reception area and waiting room, supporting integrated physical therapy workflows.
Located in the center of Tysons Corner with easy access to Route 7, I-495, Dulles Access Road, and Gallows Road. The space is walkable to Metro.
The suite is zoned for office or medical use, providing flexibility for professional tenant requirements in the Tysons Corner area.
Located in the center of Tysons Corner with easy access to Route 7, I-495, Dulles Access Road, and Gallows Road. The space is walkable to Metro.
The suite is zoned for office or medical use, providing flexibility for professional tenant requirements in the Tysons Corner area.
Key Highlights
- Fully renovated medical office suite
- Reception, waiting room, and kitchen
- Five treatment rooms plus an x‑ray area
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
$132,129
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
3.82%
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%
$2,642,580
$2.6M
Cap Rate 7%
$1,887,557
$1.9M
Cap Rate 9%
$1,468,100
$1.5M
Market Conditions
NOI Build-Up for 6,980 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
$206.0K $29.52/SF
− Vacancy
−$29.9K −$4.28/SF
EGI
$176.2K $25.24/SF
− OpEx
−$44.0K −$6.31/SF
NOI
$132.1K $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%
$2,642,580
Cap Rate 7%
$1,887,557
Cap Rate 9%
$1,468,100
Alternative Uses
Best Use
Office B
$1.89M
$1.65M – $2.20M
NOI $132,129 @ 7.0% cap · market cap 3.82%
Second Best
Healthcare Medical
$1.82M
$1.59M – $2.12M
NOI $127,188 @ 7.0% cap · market cap 3.68%
Theoretical Best
Specialty Retail
$29.26M
$25.60M – $34.13M
NOI $2,048,089 @ 7.0% cap · market cap 59.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6,704
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 22182, VA
27,778
Population
10,285
Households
2.7
Avg Household Size
42
Median Age
82%
College-Educated
97%
High-School Grad
12.5 sq mi
ZIP Area
2,222
Density / Sq Mi
$200,038
Median Household Income
$102,749
Median Earnings
$2,618
Median Rent
$1,086,600
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.
Similar Off Market Nearby
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- Banfield Pet Hospital — 8204 Leesburg Pike, Vienna, VA 22182
Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully renovated medical office suite with reception, treatment rooms, x-ray area, and an attached PT gym space.
Where is this medical office space located?
The property is located at 8230 Boone Blvd Vienna, VA.
What is the asking price?
The asking price for this property is $3,455,100.
What are key features of this property?
This property features: Fully renovated medical office suite; Reception, waiting room, and kitchen; Five treatment rooms plus an x‑ray area
