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Property profile & analytics
FOR LEASE
Office buildings
1515 North Courthouse Rd Arlington, VA 22201
Entity Owned
16-yr Hold
Free & Clear
Property ID
US87-0776104
For Lease
1 / 6
$44 SF/Yr
1515 North Courthouse Rd, Arlington, VA 22201
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1999
Total area
259,110 SF
Lot
1.34 ac (58,461 SF)
Zoning code
C-O
APN
17-012-021
UPID
US87-0776104
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
Current use
Occupant on record · Public records
-
Livesay & Myers, P.C. Law Firm
-
Storyblocks Media Distribution
-
Publicis Sapient Business Management Consultant
-
Dr. Aparna Raikar MD Physician
-
Natasha Singh Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$21.14M
Owner & transaction history
Mept Courthouse Tower LLC · 16 yrs held
Mept Courthouse Tower LLC
since 2010
5 recorded transactions
Zoning & alternative use
C-O · Arlington, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Arlington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Arlington 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$82 / 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
$952,727
Tax year 2024
Assessed value
$82,273,500
Assessed 2024
Previous assessed
$97,632,300
-15.7% YoY
Effective rate
1.16%
On assessed value
Assessed land
$16,842,200
Assessed improvement
$65,431,300
Land market value
$16,842,200
Improvement market value
$65,431,300
Total market value
$82,273,500
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
1999
Heating
NONE
Total area
259,110 SF
Lot
1.34 ac (58,461 SF)
Zoning code
C-O
APN
17-012-021
UPID
US87-0776104
Jurisdiction
ARLINGTON
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
C-O · Arlington, VAZoning C-O · permitted uses
C-O · Arlington, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1999
Heating
NONE
Lot
1.34 ac
Current owner
From public records · entity-resolved
Mept Courthouse Tower LLC
Entity
Free & Clear · 16 yrs held
Mailing address
PO BOX 92129, SOUTHLAKE, TX 76092-0102
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2011
—
Mept Courthouse Tower LLC
—
Deed Of Trust
related
$363,775,701 · Metropolitan Life Insurance
Jun 23, 2010
—
Mept Courthouse Tower LLC
Newtower Trust Co Multi-e Trust
Quit Claim Deed
related
—
Apr 10, 2006
—
Newtower Trust Co Multi-employer
Owner Name Unavailable
Deed Of Trust
related
$100,000,000 · Security Life Of Denver Ins Co
—
—
Mept Courthouse Tower LLC
—
Deed Of Trust
related
$36,224,299 · Metropolitan Life Insurance
—
—
Bk NA Riggs
—
Deed Of Trust
related
$199,900 · Security Life Of Denver Ins Co
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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