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    Property profile & analytics

    108 Elden St Herndon, VA 20170

    • Office Properties & Spaces
    • 2,104 SF
    For Sale
    View listing
    $821,000
    Last Sale
    Nov 21, 2023
    $995,000
    Value Estimations
    Cap Rate Potential
    6%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US87-1188305
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Grande Dental Care / Dentist / Dental Implants Periodontist
    • ACE Physical Therapy and Sports Medicine Institute / Physical Therapy Clinic
    • Dr Ramesh G Chandra / Orthopedic Surgeon / Doctor
    • ACE Rehab / Physical Therapy Clinic
    • Acclaim Dental Group - Flora Tajalli - Family And Cosmetic Dentistry / Cosmetic Dentist

    Property Details for 108 Elden St

    Property size
    2,104 SF
    Zone code
    CO(COMMERCIAL OFFICE)
    Property type
    Office Properties & Spaces
    APN
    017-1-11-0015-B
    APU
    0171110015B

    Description

    This exceptional Class A medical office building, located at 108 Elden Street in Herndon, Virginia, presents a unique investment opportunity. The property boasts a total of 7,046 square feet, with 4,106 square feet currently available for lease. The building is situated in a prime location within Fairfax County, zoned C-2, and features convenient access to major transportation routes. The single-tenant occupancy allows for streamlined management and potential for significant rental income. The property's ample parking provides 50 free surface spaces for patients and staff. The building's address is 108 Elden St, Herndon, VA 20170, with the Assessor's Parcel Number (APN) being 0171 11 0016: 0171 11 0015C: 0171 11 0015A &B. This is an ideal opportunity for medical professionals seeking a well-maintained, conveniently located space to establish or expand their practice. The building's high-quality construction and desirable location make it a strong investment prospect with excellent potential for long-term growth and profitability. The significant vacant space offers immediate occupancy and customization options for a new tenant. Don't miss this chance to acquire a thriving medical office building in a highly sought-after area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $710,000
      ML approach
      $760,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $500,000
      6.5%
      $460,000
      7%
      $430,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $560,000
      Market price range: $484k - $728k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Herndon
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.3655
    Latitude
    38.9671
    CBSA code
    47900
    CBSA name
    WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $7,632
    $98,890
    $395,550
    $494,440
    -
    $98,890
    $395,550
    $494,440

    Comparable in this City

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      CONDOMINIUM OFFICES
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    • Value Estimation
      $225,000
      916 SF

      299 Herndon Pkwy, Unit 106

      CONDOMINIUM OFFICES • 916 SF
      299 Herndon Pkwy, Herndon, VA 20170-4475
      View Details

    Similar Nearby for Sale

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      Herndon Office Space - Two Units

      Prime Herndon location, two combined office units.
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    Similar Nearby for Lease

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    • $23 SF/Yr
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      Herndon Office Space for Lease

      Prime Herndon location, multiple suites available.
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      View Details
    • Contact for pricing
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      Herndon Office Space for Rent

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      View Details
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    108 Elden St
    Herndon, VA 20170
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    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
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