Office Unit with
For Sale
Contact for pricing
22648 Glenn Dr, Sterling, VA 20164
Office unit featuring a shower, new flooring, and paint.
Property Size950 SF
Price / SF$240
Days on Market1313
Property Features for 22648 Glenn Dr
General Information
Standard status
Active
Size
950 SF
Class
B
Property subtype
Office
Occupancy
33%
Lease Type
Modified Gross
Building Details
Tenancy
Multi
Listing Agency:
Everly Real Estate
Listed By:
Matthew Everly · License #VA 0225162908
Source:
Crexi
Added: Jan 27, 2023
Changed: Aug 26
Last Checked: Sep 1 at 5:19AM
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 Everly Real Estate
Investment Insights
Based on property information with market context.
Located at 22648 Glenn Dr, Sterling, VA, Unit 306 is available for purchase. This 950 square foot end unit features two windowed offices, a large open area, and a private restroom equipped with a shower. The unit has been updated with new flooring and paint. Furniture is negotiable. Unit 306 is offered for sale individually.
Key Highlights
- Contiguous units offer flexibility: purchase individually or as a portfolio with potential for direct access.
- Unit 305 is currently leased until February 2026, providing immediate income.
- Unit 306 is an end unit with a large open area and a private restroom with shower.
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
$17,983
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
7.89%
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%
$359,660
$359.7K
Cap Rate 7%
$256,900
$256.9K
Cap Rate 9%
$199,811
$199.8K
Market Conditions
NOI Build-Up for 950 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
$28.0K $29.52/SF
− Vacancy
−$4.1K −$4.28/SF
EGI
$24.0K $25.24/SF
− OpEx
−$6.0K −$6.31/SF
NOI
$18.0K $18.93/SF
Area
Loudoun 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%
$359,660
Cap Rate 7%
$256,900
Cap Rate 9%
$199,811
Alternative Uses
Best Use
Office B
$256.9K
$224.8K – $299.7K
NOI $17,983 @ 7.0% cap · market cap 7.89%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$297.7K
$260.5K – $347.4K
NOI $20,841 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
979
Businesses Nearby
Explore this area
Business Placement
Demographics for 20164, VA
40,888
Population
13,077
Households
3.1
Avg Household Size
36
Median Age
39%
College-Educated
81%
High-School Grad
7.6 sq mi
ZIP Area
5,380
Density / Sq Mi
$132,067
Median Household Income
$47,315
Median Earnings
$2,031
Median Rent
$526,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office unit featuring a shower, new flooring, and paint.
Where is this office units located?
The property is located at 22648 Glenn Dr Sterling, VA.
What is the asking price?
The asking price for this property is $228,000.
What are key features of this property?
This property features: Contiguous units offer flexibility: purchase individually or as a portfolio with potential for direct access.; Unit 305 is currently leased until February 2026, providing immediate income.; Unit 306 is an end unit with a large open area and a private restroom with shower.
