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Property profile & analytics
OFF-MARKET
Estimated value
$27,840,000
Community centers
12189 Fair Lks Promenade Dr Fairfax, VA 22033-3979
Individually Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-1272572
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1996
Construction
STEEL FRAME
Total area
122,820 SF
Lot
13.64 ac (593,954 SF)
Zoning code
PDC(PLANNED DEV COMMERCIA
APN
056-1-18-0001
UPID
US87-1272572
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$32.23M
Blend (final)
Blend
$27.84M
Owner & transaction history
Commonwealth Of Virginia · 5 yrs held
Commonwealth Of Virginia
since 2021
Last sale
$23,000
3 recorded transactions
Zoning & alternative use
PDC(PLANNED DEV COMMERCIA · Fairfax, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$46.4M
+2.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Fairfax submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fairfax submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$45,280,000
Current use
OFFICE BUILDING
$46,375,000
Change: +2% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$41,775,000
Change: -8% · Conversion: Difficult
AUTO REPAIR, GARAGE
$41,005,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$27.84M
Range $25.06M – $30.62M · ±10% · vs last sale $23k (Mar 9 2021)
Last sale anchor
$23k
Mar 9 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$227 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$381,129
Tax year 2024
Assessed value
$29,694,520
Assessed 2024
Previous assessed
$30,307,990
-2.0% YoY
Effective rate
1.28%
On assessed value
Assessed land
$13,660,940
Assessed improvement
$16,033,580
Land market value
$13,660,940
Improvement market value
$16,033,580
Total market value
$29,694,520
Applied tax rate
8.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1996
Construction
STEEL FRAME
Heating
OTHER
Cooling
YES
Stories
1
Total area
122,820 SF
Lot
13.64 ac (593,954 SF)
Zoning code
PDC(PLANNED DEV COMMERCIA
APN
056-1-18-0001
UPID
US87-1272572
Jurisdiction
FAIRFAX
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
PDC(PLANNED DEV COMMERCIA · Fairfax, VA
Zoning PDC(PLANNED DEV COMMERCIA · permitted uses
PDC(PLANNED DEV COMMERCIA · Fairfax, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fairfax. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$45.3M
OFFICE BUILDING
Est. value
$46.4M
INDUSTRIAL (GENERAL)
Est. value
$41.8M
AUTO REPAIR, GARAGE
Est. value
$41.0M
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1996
Construction
STEEL FRAME
Heating
OTHER
Cooling
Yes
Stories
1
Lot
13.64 ac
Current owner
From public records · entity-resolved
Commonwealth Of Virginia
Individual
Free & Clear · 5 yrs held
Mailing address
8405 GREENSBORO DR, MC LEAN, VA 22102-5104
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 9, 2021
$23,000
Commonwealth Of Virginia
Fair Lakes Promenade Retail LLC
Deed
—
Feb 2, 2011
$39,500,000
Fair Lakes Promenade Retail Ll
12189-12249 Fair Lakes Promena
Grant Deed
related
—
Jan 11, 2010
$19,900,000
12189-12249 Fair Lakes Promena
Farber Allen V
Trustees Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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