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    Portsmouth Rd & Sudley Rd Manassas, VA 20109
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    Portsmouth Rd & Sudley Rd Manassas, VA 20109

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    • Shopping malls
    • 113,116 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Shopping malls

    Property Details for 0 Portsmouth Rd & Sudley Rd

    Property size
    113,116 SF
    Property type
    Shopping malls
    Property subtype
    Retail properties & Spaces

    Description

    Festival at Manassas, a retail shopping mall located in Prince William County, Virginia, presents a unique leasing opportunity. This prime retail space, situated at the intersection of Portsmouth Road and Sudley Road in West Gate, offers multiple suites for lease, totaling 113,116 square feet. Currently, there are four available suites ranging in size from a minimum of 1,500 square feet to a maximum contiguous space of 7,541 square feet. A significant portion of the mall is currently vacant, totaling 19,705 square feet, presenting a substantial opportunity for expansion or new tenancy. The property's location in the 20109 zip code of Manassas, Virginia, provides excellent visibility and accessibility for businesses seeking a strong presence in a thriving community. The property is classified as a shopping mall with multiple tenancy options, making it suitable for a variety of retail concepts. This is an exceptional chance to secure retail space in a well-established shopping center within a high-traffic area of Prince William County. The flexible space options cater to businesses of various sizes, offering a range of possibilities for growth and expansion. Interested parties are encouraged to inquire about available spaces and leasing terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Manassas
    County
    Prince William
    State
    Virginia
    Longitude
    -77.5069
    Latitude
    38.7779

    Comparable in this City

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      8130 Ashton Ave

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    • Value Estimation
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      11560 Hayden Rd

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    • Value Estimation
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      9570 Hornbaker Rd

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    • Value Estimation
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      8588 Virginia Mdws Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 10,944 SF
      8588 Virginia Mdws Dr, Manassas, VA 20109
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    • Value Estimation by Request
      57,020 SF

      8365 Sudley Rd

      Lifestyle centers • 57,020 SF
      8365 Sudley Rd, Manassas, VA 20109
      View Details
    • Value Estimation by Request
      12.58 Acres

      9750 Hornbaker Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 12.58 Acres
      9750 Hornbaker Rd, Manassas, VA 20109-3977
      View Details

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    Similar Nearby for Lease

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      35,375 SF

      Retail Space in Sudley Plaza

      35,375 SF retail opportunity in a high-traffic location.
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      25,288 SF

      Retail Space in Manassas, VA

      Retail space available in established Northern Virginia shopping center.
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      7,164 SF

      Retail Space in Manassas Corridor

      Retail space in high-traffic Manassas location, anchored by Global Food.
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      10,741 SF

      Retail Space Near Manassas Mall

      Retail space in high-traffic Manassas location, anchored by Global Food.
      10280-10348 Festival Ln, Manassas, VA 20109
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      Retail Space Available For Lease

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      44,715 SF

      Retail Space in Manassas, VA

      Retail property with 44715 square feet available for rent.
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    Manassas, VA 20109
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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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    Portsmouth Rd & Sudley Rd, Manassas, VA, 20109
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