Office Condo with Private
New
For Sale
$420,000
9273 Old Keene Mill Road Ste 16, Burke, VA 22015
The suite offers separate office areas and convenient access to shared restrooms and building amenities.
Property Size1,530 SF
Price / SF$274.51
Days on Market4
Property Features for 9273 Old Keene Mill Road Ste 16
General Information
Standard status
Active
Size
1,530 SF
Property subtype
Office
Additional Details
Office Units
1
Amenities
natural light
Building Details
Building Size
1,530 SF
Year Built
1987
Listed By:
Matthew Garcia · License #VA 0225238840
(703) 969-0208
Source:
Divaris
Added: Sep 28
Last Checked: Oct 1 at 9:12AM
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 Matthew Garcia
Investment Insights
Based on property information with market context.
This 1,530-square-foot office condominium includes private office areas and receives natural light throughout. Restrooms and other building amenities are conveniently accessible. The property was built in 1987.
Located at 9273 Old Keene Mill Road, Suite 16, in Burke, the office is near major commuter routes and within reach of shopping, dining, retail, and everyday services.
Located at 9273 Old Keene Mill Road, Suite 16, in Burke, the office is near major commuter routes and within reach of shopping, dining, retail, and everyday services.
Key Highlights
- 1,530 SF office condominium
- Private office areas within the suite
- Natural light throughout
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
$28,962
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
6.90%
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%
$579,240
$579.2K
Cap Rate 7%
$413,743
$413.7K
Cap Rate 9%
$321,800
$321.8K
Market Conditions
NOI Build-Up for 1,530 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
$45.2K $29.52/SF
− Vacancy
−$6.5K −$4.28/SF
EGI
$38.6K $25.24/SF
− OpEx
−$9.7K −$6.31/SF
NOI
$29.0K $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%
$579,240
Cap Rate 7%
$413,743
Cap Rate 9%
$321,800
Alternative Uses
Best Use
Office B
$413.7K
$362.0K – $482.7K
NOI $28,962 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.41M
$5.61M – $7.48M
NOI $448,936 @ 7.0% cap · market cap 106.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
485
Businesses Nearby
Explore this area
Business Placement
Demographics for 22015, VA
43,941
Population
15,132
Households
2.9
Avg Household Size
41
Median Age
66%
College-Educated
95%
High-School Grad
8.5 sq mi
ZIP Area
5,170
Density / Sq Mi
$166,016
Median Household Income
$70,767
Median Earnings
$2,441
Median Rent
$666,500
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - The suite offers separate office areas and convenient access to shared restrooms and building amenities.
Where is this office units located?
The property is located at 9273 Old Keene Mill Road Ste 16 Burke, VA.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: 1,530 SF office condominium; Private office areas within the suite; Natural light throughout
