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    7000-7034 Commerce St Springfield, VA 22150
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    7000-7034 Commerce St, Springfield, VA 22150

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    • Retail properties & Spaces
    • 31,544 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commerce Plaza / Shopping Center & Mall

    Property Details for 7000-7034 Commerce St

    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This exceptional retail investment opportunity, Commerce Plaza, is located at 7000-7034 Commerce Street in Springfield, Virginia, within the bustling Fairfax County market. The property is a multi-tenant shopping center with a total building area of 31,544 square feet. Currently, there is one inline retail space available, measuring 1,520 square feet, presenting a unique chance for expansion or new tenancy. The property's strategic location in Springfield, VA, 22150, ensures high visibility and accessibility for businesses. The existing tenancy demonstrates a strong foundation for continued success. With a current vacancy of only 1,131 square feet, this property offers a stable investment with significant upside potential. The property's classification as a commercial shopping center, specifically inline retail, caters to a wide range of businesses. The property's location in Fairfax County, Virginia, provides access to a robust and growing consumer base. This is an excellent opportunity to acquire a well-situated retail space in a thriving market. The available space presents a blank canvas for a variety of retail concepts, allowing for customization and tailored fit-outs. Serious inquiries are encouraged to explore this promising investment prospect further.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.1874
    Latitude
    38.7832

    Comparable in this City

    • Value Estimation by Request
      2,747 SF

      6720 Commerce St

      RETAIL STORES (PERSONAL SERVICES)
      6720 Commerce St, Springfield, VA 22150-2515
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    • Value Estimation by Request
      3,532 SF

      6733 Commerce St

      RETAIL STORES (PERSONAL SERVICES)
      6733 Commerce St, Springfield, VA 22150-2507
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    • Value Estimation by Request
      5,246 SF

      6840 Franconia Rd

      DEPARTMENT STORE
      6840 Franconia Rd, Springfield, VA 22150-2611
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    • Value Estimation
      $810,000
      28,800 SF

      7900 Backlick Rd

      DEPARTMENT STORE
      7900 Backlick Rd, Springfield, VA 22150-2206
      View Details
    • Value Estimation
      $1,495,000
      60,090 SF

      6711 Spg Mall Rd

      DEPARTMENT STORE (MULTI-STORY)
      6711 Spg Mall Rd, Springfield, VA 22150-1907
      View Details
    • Value Estimation
      $1,550,000
      3,084 SF

      7225 Old Keene Ml Rd

      CONVENIENCE STORE
      7225 Old Keene Ml Rd, Springfield, VA 22150-3509
      View Details

    Similar Nearby for Lease

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      Springfield Mall Retail Space Available

      205,777 SF retail space in Springfield Town Center.
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      Retail Space in Tower Shopping Center

      Retail space for lease in Springfield, Virginia shopping center.
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      Springfield Retail Space Available

      Retail space available for lease in Springfield, Virginia.
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    Springfield, VA 22150
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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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