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Property profile & analytics
FOR LEASE
Office buildings
1851 Alexander Bell Dr, Reston, VA 20191
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-0123114
For Lease
1 / 2
$36,500,000
1851 Alexander Bell Dr, Reston, VA 20191
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Construction
CONCRETE BLOCKS
Total area
71,890 SF
Lot
3.43 ac (149,541 SF)
Zoning code
I-3(INDUST LIGHT INTENSIT
APN
027-1-01-0011
UPID
US87-0123114
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
$36.50M
CAP Approach
CAP
$22.33M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$36.50M
Owner & transaction history
Npa Alex Bell LLC · 1 yrs held
Npa Alex Bell LLC
since 2024
Last sale
$36.5M
7 recorded transactions
Zoning & alternative use
I-3(INDUST LIGHT INTENSIT · Reston, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$54.7M
+198.5%
Commercial (general)
$32.7M
+78.3%
Neighborhood: shopping center
$26.5M
+44.7%
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 Reston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Reston 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
$36,500,000
ML approach
$36,500,000
CAP Approach
CAP Return
Estimation
6%
$24,195,000
6.5%
$22,330,000
7%
$20,735,000
Alternative Use
Use
Estimation
RESTAURANT
$54,670,000
Change: +198% · Conversion: Moderate
COMMERCIAL (GENERAL)
$32,655,000
Change: +78% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$26,505,000
Change: +45% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$24,455,000
Change: +34% · Conversion: Difficult
AUTO REPAIR, GARAGE
$24,000,000
Change: +31% · Conversion: Difficult
Blend value · Realmo final
$36.50M
Range $32.85M – $40.15M · ±10% · vs last sale $36.50M (Nov 19 2024)
Last sale anchor
$36.50M
Nov 19 2024
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
$508 / 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
$87,353
Tax year 2024
Assessed value
$6,059,840
Assessed 2024
Previous assessed
$12,305,670
-50.8% YoY
Effective rate
1.44%
On assessed value
Assessed land
$1,509,690
Assessed improvement
$4,550,150
Land market value
$1,509,690
Improvement market value
$4,550,150
Total market value
$6,059,840
Applied tax rate
1.0000
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
Status
For Lease
Year built
1985
Construction
CONCRETE BLOCKS
Heating
OTHER
Cooling
YES
Stories
4
Total area
71,890 SF
Lot
3.43 ac (149,541 SF)
Zoning code
I-3(INDUST LIGHT INTENSIT
APN
027-1-01-0011
UPID
US87-0123114
Jurisdiction
FAIRFAX
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
I-3(INDUST LIGHT INTENSIT · Reston, VA
Zoning I-3(INDUST LIGHT INTENSIT · permitted uses
I-3(INDUST LIGHT INTENSIT · Reston, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Reston. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$54.7M
COMMERCIAL (GENERAL)
Est. value
$32.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$26.5M
INDUSTRIAL (GENERAL)
Est. value
$24.5M
AUTO REPAIR, GARAGE
Est. value
$24.0M
RESTAURANT
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1985
Construction
CONCRETE BLOCKS
Heating
OTHER
Cooling
Yes
Stories
4
Lot
3.43 ac
Current owner
From public records · entity-resolved
Npa Alex Bell LLC
Entity
Free & Clear · 1 yrs held
Mailing address
2214 ROCK HL RD STE #100, HERNDON, VA 20170-4214
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 19, 2024
$13,646,858
Npa Alex Bell LLC
Reston Real Estate Investors LLC
Deed
related
—
Mar 8, 2021
—
Reston Real Estate Investors LLC
—
Deed
related
$18,000,000 · Inpoint Reit Operating Partnership LP
Jun 13, 2018
—
Reston R & E Invtrs LLC
—
Loan Modification
related
$16,800,000 · Vmc Lender LLC
Nov 19, 2014
—
Vicphil Us INC|reston Real Estate Invtrs LLC
—
Loan Modification
related
$28,300,000 · Citicorp USA
Jan 18, 2012
—
Vicphil Us INC
—
Deed Of Trust
related
$28,300,000 · Citicorp USA Corp
Sep 14, 2006
$36,500,000
Reston Real Estate Investors LLC
Rim Pacific Executive Ctr I LLC
Grant Deed
$28,300,000 · Citicorp USA Corp
Sep 9, 2005
$12,448,506
Rim Pacific Executive Ctr I LLC
Nvop LLC
Grant Deed
$10,314,720 · General Electric Capital Corp
Jun 30, 2004
$8,600,000
Nvop LLC
A & A Executive Center I LLC
Grant Deed
—
—
—
Vicphil Us INC
—
Loan Modification
related
$28,300,000 · Citicorp USA Corp
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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