Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    464 Herndon Pkwy Herndon, VA 20170

    • Office properties & Spaces
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • AAA Healthcare LLC / Home Health Care Service
    • Acupuncture & Bodywork Associates / Medical Clinic / Alternative Medicine Practice
    • Virginia D. Mitchell, LAC / Alternative Medicine Practice / Acupuncture
    • Dr. John Morrow / Physician / Medical Clinic
    • Meg Donnelly, NoVA Weekend Warriors / Alternative Medicine Practice / Spa & Massage Center

    Property Details for 464 Herndon Pkwy

    Year built
    1989
    Property type
    Office properties & Spaces

    Description

    This exceptional opportunity presents three renovated office suites for lease within the Springwood Professional Center, located at 464 Herndon Parkway, Unit 216, Herndon, VA. The building enjoys a prime location, less than half a mile from the new Metro station, providing convenient access to public transportation. The suites offer varying sizes and rental rates: a 10' x 10' office at $600 per month, a furnished 10' x 11' office at $650 per month, and a 10' x 12' office at $700 per month. All rental rates include condo fees, real estate taxes, utilities, and a regular cleaning service. Tenants will also benefit from shared amenities including a reception area, a complimentary Keurig coffee bar, and a conference table. The building's convenient location on Herndon Parkway offers easy access to major roadways such as the Fairfax County Parkway, Dulles Toll Road, Spring Street, Elden Street, and Sunset Hills Road, as well as proximity to Reston. A variety of shops and restaurants are within walking distance. 24/7 access to the office is provided. This is an ideal location for businesses seeking a professional, affordable, and conveniently located office space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Herndon
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.3775
    Latitude
    38.9581

    Comparable in this City

    • Value Estimation by Request
      93,129 SF

      423-491 Carlisle Dr

      Office Units • 93,129 SF
      423-491 Carlisle Dr, Herndon, VA 20170
      View Details
    • Value Estimation by Request

      464 Herndon Pkwy

      Office properties & Spaces
      464 Herndon Pkwy, Herndon, VA 20170
      View Details
    • Value Estimation by Request

      1110 Elden St Ste, Unit 302

      CONDOMINIUM OFFICES
      1110 Elden St Ste, Herndon, VA 20170-5527
      View Details
    • Value Estimation by Request

      692 Pne Stb3

      CONDOMINIUM OFFICES
      692 Pne Stb3, Herndon, VA 20170-4600
      View Details
    • Value Estimation by Request

      795 Ctr St Ste, Unit 5

      CONDOMINIUM OFFICES
      795 Ctr St Ste, Herndon, VA 20170-4684
      View Details
    • Value Estimation by Request
      916 SF

      299 Herndon Pkwy, Unit 106

      CONDOMINIUM OFFICES • 916 SF
      299 Herndon Pkwy, Herndon, VA 20170-4475
      View Details

    Similar Nearby for Sale

    • $295,000
      1,000 SF

      Herndon Office Space: Prime Location

      1,000 sq ft Office, Great Location
      299 Herndon Pkwy, Herndon, VA 20170
      View Details
    • $821,000
      2,940 SF

      Herndon Office Space - Two Units

      Prime Herndon location, two combined office units.
      108 Elden St, Herndon, VA 20170
      View Details
    • Contact for pricing

      Herndon Office Condo - Elden Street

      Prime Herndon office space, elevator access, seller financing.
      131 Elden St, Herndon, VA 20170
      View Details
    • $475,000
      1,946 SF

      Herndon Office Condo - Owner Financing

      Prime Herndon location, 1946 sq ft office condo.
      462 Herndon Pkwy, Herndon, VA 20170
      View Details
    • Contact for pricing

      Herndon Office Condo - Great View

      Spacious Herndon office condo, ideal location.
      297 Herndon Pkwy, Herndon, VA 20170
      View Details
    • $299,000
      1,100 SF

      Herndon Office Condo Investment

      Ground floor office condo, leased until 2026.
      297 Herndon Pkwy, Herndon, VA 20170
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      220 SF

      Herndon Office Suites: Affordable!

      Private offices, all-inclusive rent, metro proximity.
      464 Herndon Pkwy, Herndon, VA 20170
      View Details
    • Contact for pricing
      130 SF

      Herndon Office Suite for Lease

      130 sq ft Office Space Available
      722 Grant St, Herndon, VA 20170
      View Details
    • $23 SF/Yr
      7,796 SF

      Herndon Office Space for Lease

      Prime Herndon location, multiple suites available.
      208 Elden St, Herndon, VA 20170
      View Details
    • Contact for pricing
      25,697 SF

      Herndon Office Space for Rent

      25,697 SF office space available in Herndon, Virginia.
      480 Springpark Pl, Herndon, VA 20170
      View Details
    • Contact for pricing
      4,978 SF

      Herndon Office Space for Rent

      Office space with flexible layout and ample parking available.
      450 Springpark Pl, Herndon, VA 20170
      View Details
    • $7,944 /Mo

      Office Space Near Herndon Metro

      Office space for rent adjacent to the Herndon Metro Station.
      196 Van Buren St, Herndon, VA 20170
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    464 Herndon Pkwy
    Herndon, VA 20170
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!