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    819-821 Broad St Falls Church, VA 22046

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    819-821 Broad St Falls Church, VA 22046

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    • Retail properties & Spaces
    • 3,058 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 819-821 Broad St

    Property size
    3,058 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional 30,000 square foot development site presents a rare opportunity in the thriving City of Falls Church, Virginia. Located at 819-821 W Broad St, this corner lot sits directly at a traffic signal, ensuring high visibility and accessibility. Currently improved with two freestanding buildings totaling 3,058 square feet (1,132 SF and 1,926 SF), this property offers significant redevelopment potential. Zoned B-1, the site is ideally suited for a variety of commercial uses, including retail and restaurants. The City of Falls Church's updated parking regulations further enhance the viability of these uses. The property's prime location, just one block from the highly desirable Founders Row and Modera developments, guarantees strong foot traffic and a vibrant surrounding community. This unique offering combines a substantial lot size with a highly sought-after location, making it an exceptional investment for discerning buyers seeking a high-impact commercial development project. The two side-by-side lots provide flexibility in design and development plans. This is a truly rare opportunity to acquire a significant development site in a rapidly growing area of Northern Virginia. The zip code is 22046.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Falls Church
    County
    Falls Church city
    State
    Virginia
    Longitude
    -77.1818
    Latitude
    38.8888

    Comparable in this City

    • Value Estimation by Request
      7,900 SF

      130 Jefferson St

      Restaurants • 7,900 SF
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    • Value Estimation by Request
      32,637 SF

      402 Broad St

      Retail properties & Spaces • 32,637 SF
      402 Broad St, Falls Church, VA 22046
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    • Value Estimation by Request

      Washington St

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      0 Washington St, Falls Church, VA 22046
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    • Value Estimation by Request
      10,000 SF

      800-900 Broad St

      Restaurants • 10,000 SF
      800-900 Broad St, Falls Church, VA 22046
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    • Value Estimation by Request
      2,961 SF

      502 Broad St

      Neighborhood centers • 2,961 SF
      502 Broad St, Falls Church, VA 22046
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    • Value Estimation by Request
      1,280 SF

      901 Broad St

      Retail properties & Spaces • 1,280 SF
      901 Broad St, Falls Church, VA 22046
      View Details

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    Similar Nearby for Lease

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      Retail Space For Lease

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      Restaurant Space Anchored by Aldi

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      Retail Space Near New Development

      2,180 SF retail space near future Whole Foods.
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    Falls Church, VA 22046
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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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