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    2323 Dulles Station Blvd Herndon, VA 20171
    Property profile & analytics

    2323 Dulles Station Blvd Herndon, VA 20171

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    • Retail properties & Spaces
    • 15,838 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • L2L Web Design Studio / Marketing & Advertising / (Bike/Boat/Book/etc) Store
    • The Mark at Dulles Station Apartments / Real Estate Agency
    • Laxmi / Apartment Building
    • Revive Medical / Spa & Massage Center / Alternative Medicine Practice
    • Cuñapes bolivianos / Bakery / Specialty Food Shop

    Property Details for 2323 Dulles Station Blvd

    Property size
    15,838 SF
    Property type
    Retail properties & Spaces

    Description

    The Mark at Dulles Station offers exceptional retail opportunities in the thriving Herndon submarket of Virginia. This Class A property, located at 2323 Dulles Station Blvd, Herndon, VA 20171, boasts a total of 15,838 square feet of retail space. Currently, there are multiple units available, ranging from a minimum of 1,221 square feet to a maximum contiguous space of 2,754 square feet, with a total of 7,749 square feet currently vacant. The building provides ample parking with 300 spaces for customer and tenant convenience. This prime location in Herndon offers excellent visibility and accessibility, making it an ideal space for a variety of retail businesses. The property's multiple tenancy structure allows for flexibility in lease terms and space requirements. Interested parties are encouraged to inquire about available units and lease options. This is a unique opportunity to establish a presence in a vibrant and growing community. The property is classified as Class A, reflecting its high-quality construction and amenities. Don't miss this chance to secure your ideal retail space in this desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Herndon
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.4162
    Latitude
    38.9582

    Comparable in this City

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      246,584 SF

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      307,389 SF

      2445 Centreville Rd

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      36,000 SF

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      0 Centreville Rd & Arrowbrook Ctr Dr, Herndon, VA 20171
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      103,263 SF

      2551 John Milton Dr

      Lifestyle centers • 103,263 SF
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    • Value Estimation
      $605,000
      2,332 SF

      13300 Franklin Farm Rd

      SHOPPING CENTER, STRIP CENTER • 2,332 SF
      13300 Franklin Farm Rd, Herndon, VA 20171-4036
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    • Value Estimation
      $5,960,000
      27,335 SF

      13346 Franklin Farm Rd

      SHOPPING CENTER, STRIP CENTER • 27,335 SF
      13346 Franklin Farm Rd, Herndon, VA 20171-4099
      View Details

    Similar Nearby for Sale

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    • $60,000
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      Land in Herndon, Virginia

      Residential land in a neighborhood of high-priced homes.
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      Commercial Land with Development Potential

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    Similar Nearby for Lease

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      1,800 SF

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      Retail property available for lease in Herndon, Virginia.
      3059 Centreville Rd, Herndon, VA 20171
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      2,500 SF

      Retail Space in Herndon, VA

      Neighborhood shopping center space available in Herndon, Virginia.
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      Herndon Retail Space For Rent

      Premier retail space in a fast-growing, heavily trafficked shopping center.
      330-356 Elden St, Herndon, VA 20171
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      4,224 SF

      Retail Center Near Dulles Airport

      Retail spaces available in Herndon, near Dulles Airport.
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      3,167 SF

      Retail Center Near Dulles Airport

      Retail spaces in a distinctive center with high visibility.
      2405-2465 Centreville Rd, Herndon, VA 20171
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      1,388 SF

      Retail Space Near Dulles Airport

      Retail space with high visibility and strong workplace population.
      2415-2465 Centreville Rd, Herndon, VA 20171
      View Details
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    Herndon, VA 20171
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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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    2323 Dulles Station Blvd, Herndon, VA, 20171
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