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Property profile & analytics
OFF-MARKET
Estimated value
$51,850,000
Office buildings
1885 Explorer St, Reston, VA 20190
Entity Owned
19-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-0920784
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Total area
263,767 SF
Lot
2.34 ac (101,973 SF)
Zoning code
PRC(COMMERCIAL/INDUSTRIAL
APN
017-3-10-0015
UPID
US87-0920784
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
$57.96M
Comparable Approach
Comparable
$51.35M
Blend (final)
Blend
$51.85M
Owner & transaction history
South Of Market Garage LLC · 19 yrs held
South Of Market Garage LLC
since 2006
2 recorded transactions
Zoning & alternative use
PRC(COMMERCIAL/INDUSTRIAL · Reston, 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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$62,785,000
6.5%
$57,955,000
7%
$53,815,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$80,410,000
Current use
WAREHOUSE, STORAGE
$77,400,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$51.85M
Range $46.67M – $57.04M · ±10%
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
$197 / 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
$2,009,350
Tax year 2024
Assessed value
$132,937,490
Assessed 2024
Previous assessed
$138,806,410
-4.2% YoY
Effective rate
1.51%
On assessed value
Assessed land
$10,934,320
Assessed improvement
$122,003,170
Land market value
$10,934,320
Improvement market value
$122,003,170
Total market value
$132,937,490
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
Off-Market
Heating
NONE
Stories
10
Total area
263,767 SF
Lot
2.34 ac (101,973 SF)
Zoning code
PRC(COMMERCIAL/INDUSTRIAL
APN
017-3-10-0015
UPID
US87-0920784
Jurisdiction
FAIRFAX
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
PRC(COMMERCIAL/INDUSTRIAL · Reston, VA
Zoning PRC(COMMERCIAL/INDUSTRIAL · permitted uses
PRC(COMMERCIAL/INDUSTRIAL · 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
OFFICE BUILDING Current
Est. value
$80.4M
WAREHOUSE, STORAGE
Est. value
$77.4M
OFFICE BUILDING Current
WAREHOUSE, STORAGE
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
Heating
NONE
Stories
10
Lot
2.34 ac
Current owner
From public records · entity-resolved
South Of Market Garage LLC
Entity
Mailing address
2200 PENNSYLVANIA AVE NW200W, WASHINGTON, DC 20037-1709
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 20, 2008
—
South Of Market Garage LLC
—
Grant Deed
related
$65,000,000 · Bank Of New York
Nov 22, 2006
—
South Of Market Garage LLC
Boston Properties
Grant Deed
$200,000,000 · Bank Of New York
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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