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    7701 Southern Drive Springfield, VA 22150

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    For Lease
    Contact for pricing

    Private warehouse, storage, and office spaces with flexible lease terms.

    Type:Industrial
    Property size:
    10,000 SF
    Added:
    Nov 25, 2019
    Days on Market:
    2325
    Last Refresh:
    Mar 17 at 1:16 pm

    Property Features for 7701 Southern Drive

    General Information

    Standard status
    Active
    Size
    10,000 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    1980

    Spaces For Lease

    at 7701 Southern Drive Contact us

    A3A $2 /Mo

    Size
    3,000 SF
    Type
    Industrial
    Contact us

    A2E $2 /Mo

    Size
    850 SF
    Type
    Industrial
    Contact us

    A2D $2 /Mo

    Size
    425 SF
    Type
    Industrial
    Contact us

    A3E $2 /Mo

    Size
    275 SF
    Type
    Industrial
    Contact us

    A3D $2 /Mo

    Size
    400 SF
    Type
    Industrial
    Contact us

    A3C $2 /Mo

    Size
    600 SF
    Type
    Industrial
    Contact us

    A3B $2 /Mo

    Size
    1,250 SF
    Type
    Industrial
    Contact us

    A2B $2 /Mo

    Size
    300 SF
    Type
    Industrial
    Contact us

    B1A $2 /Mo

    Size
    2,500 SF
    Type
    Industrial
    Contact us

    A2A $2 /Mo

    Size
    200 SF
    Type
    Industrial
    Contact us

    A2C $2 /Mo

    Size
    400 SF
    Type
    Industrial
    Contact us

    A3F $2 /Mo

    Size
    250 SF
    Type
    Industrial
    Contact us

    B13 $2 /Mo

    Size
    1,750 SF
    Type
    Industrial
    Contact us

    B1B $2 /Mo

    Size
    1,500 SF
    Type
    Industrial
    Contact us
    Show more

    We can help!

    Listing Contact
    Ready Spaces

    Listing agent Ready Spaces License #FLBO

    Listing office Ready Spaces

    Listing date Nov 25, 2019

    Source Crexi

    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 Ready Spaces

    Overview

    Versatile Flex Space for Rent

    ReadySpaces Washington DC - Springfield provides a community of businesses with private warehouse, storage, and office spaces. The property offers secure spaces ranging from 250 to 10,000 square feet. Each space includes power (120V, 240V, 208V - varies) and complimentary Wi-Fi. Loading docks and drive-in doors are accessible from each space. Limited private office spaces are available. The building provides 24/7 access, conference rooms, a kitchen, and common areas, all available for free use. Forklifts, pallet jacks, and other equipment are also available for free use. A CCTV monitoring and security system is in place. Flexible lease terms, including short-term options, are offered, with the ability to grow or shrink your space as needed. The property features all-inclusive pricing with no hidden fees or charges. The location is ideal for serving Northern Virginia and DC, situated minutes from the I-395, I-495, and I-95 intersection (mixing bowl) and less than 10 minutes from the Franconia-Springfield Metro station.
    Location Intelligence

    Current Use by Public Records

    Cleaning Home Supply Big Box & Wholesale Store EXPI LLC Distribution Center SwiftPod Virginia Printing Service District Hookah, LLC Bar & Pub CasaOne Furniture Rental Interior Design

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.2086442
    Latitude
    38.7924063

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      Industrial/Flex Unit Near I-495

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      Springfield Office Building For Rent

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      Versatile Flex Space in Springfield

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      West Springfield Medical/Office Space

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    FAQs

    What type of property is this?
    Flex space - Private warehouse, storage, and office spaces with flexible lease terms.
    Where is this flex space located?
    The property is located at 7701 Southern Drive Springfield, VA.
    What are key features of this property?
    This property features: Private, secure warehouse/storage spaces from 250 to 10,000 SF with power and free Wi‑Fi; 24/7 building access with CCTV monitoring and security system; Access to loading docks and drive‑in doors from each space
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Ready Spaces
    Real Estate License ID: FLBO
    Learn More
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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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