Corner Residential Income Property with
For Sale
$749,980
9521 BASTILLE STREET Unit 305, Fairfax, VA 22031
Corner condominium residence with an open layout, wooded outlook, upgraded kitchen finishes, and two assigned garage spaces near the elevator.
Property Size1,685 SF
Price / SF$445.09
Days on Market144
Property Features for 9521 BASTILLE STREET Unit 305
General Information
Standard status
Active
Size
1,685 SF
Total Parking Spaces
2
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,998
Amenities
private deck
Building Details
Building Size
1,685 SF
Year Built
2014
Listing Agency:
Alliance Realty Corporation
(202) 607-6821
Listed By:
Mingyan Deborah Cheung · License #0225095948
(202) 607-6821
Source:
Barnesrealestatecompany
Added: Apr 11
Changed: Aug 31
Last Checked: Aug 30 at 10:47PM
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 Alliance Realty Corporation
Investment Insights
Based on property information with market context.
This 1,685 SF corner condominium residence, built in 2014, includes two bedrooms and two bathrooms. An open-concept arrangement connects the living and dining areas with a kitchen featuring upgraded granite countertops. The private deck extends the living space and overlooks wooded, tree-lined surroundings. Two side-by-side garage parking spaces, numbered 15 and 20, are positioned near the elevator.
The property is in Fairfax near shopping, dining, parks, and the Jim Scott Community Center. Access to I-66, I-495, Routes 50 and 29, Fairfax Connector buses, and VRE/Amtrak service supports regional commuting. The Vienna/Fairfax-GMU Metro Station is also identified in the surrounding access information.
The property is in Fairfax near shopping, dining, parks, and the Jim Scott Community Center. Access to I-66, I-495, Routes 50 and 29, Fairfax Connector buses, and VRE/Amtrak service supports regional commuting. The Vienna/Fairfax-GMU Metro Station is also identified in the surrounding access information.
Key Highlights
- 1,685 SF corner condominium residence with 2 bedrooms and 2 bathrooms
- Private deck with wooded, tree‑lined views
- Open‑concept living, dining, and kitchen arrangement
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
$25,222
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
3.36%
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%
$504,440
$504.4K
Cap Rate 7%
$360,314
$360.3K
Cap Rate 9%
$280,244
$280.2K
Market Conditions
NOI Build-Up for 1,685 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
$48.5K $28.80/SF
− Vacancy
−$2.7K −$1.58/SF
EGI
$45.9K $27.22/SF
− OpEx
−$20.6K −$12.25/SF
NOI
$25.2K $14.97/SF
Area
Fairfax County, VA
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
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%
$504,440
Cap Rate 7%
$360,314
Cap Rate 9%
$280,244
Alternative Uses
Best Use
Apartment 5plus
$360.3K
$315.3K – $420.4K
NOI $25,222 @ 7.0% cap · market cap 3.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.06M
$6.18M – $8.24M
NOI $494,417 @ 7.0% cap · market cap 65.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
243
Businesses Nearby
Explore this area
Business Placement
Demographics for 22031, VA
35,256
Population
15,390
Households
2.3
Avg Household Size
36
Median Age
72%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
4,966
Density / Sq Mi
$129,743
Median Household Income
$74,178
Median Earnings
$2,267
Median Rent
$710,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Corner condominium residence with an open layout, wooded outlook, upgraded kitchen finishes, and two assigned garage spaces near the elevator.
Where is this residential income property located?
The property is located at 9521 BASTILLE STREET Unit 305 Fairfax, VA.
What is the asking price?
The asking price for this property is $749,980.
What are key features of this property?
This property features: 1,685 SF corner condominium residence with 2 bedrooms and 2 bathrooms; Private deck with wooded, tree‑lined views; Open‑concept living, dining, and kitchen arrangement
