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Property profile & analytics
FOR LEASE
Office buildings
220 Spring St, Herndon, VA 20170
Individually Owned
6-yr Hold
Free & Clear
Property ID
US87-1198946
For Lease
1 / 2
$34,420,000
220 Spring St, Herndon, VA 20170
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Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1963
Construction
CONCRETE BLOCKS
Total area
151,058 SF
Lot
6.93 ac (302,052 SF)
Zoning code
O&L I(OFFICE &LIGHT INDUS
APN
017-1-02-0023
UPID
US87-1198946
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
-
Northwest Title & Escrow Title Company
-
Marine Spill Response Corporation Association / Organization
-
FedEx Drop Box Shipping Company Freight Service
-
Objective Interface Systems (Bike/Boat/Book/etc) Store Corporate Office
-
American Cadastre LLC (Bike/Boat/Book/etc) Store Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$46.93M
Comparable Approach
Comparable
$34.76M
Blend (final)
Blend
$34.42M
Owner & transaction history
Commonwealth Of Va · 6 yrs held
Commonwealth Of Va
since 2020
3 recorded transactions
Zoning & alternative use
O&L I(OFFICE &LIGHT INDUS · Herndon, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$55.7M
+31.5%
Industrial (general)
$51.4M
+21.3%
Auto repair, garage
$50.4M
+19.1%
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 Herndon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Herndon 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%
$50,835,000
6.5%
$46,925,000
7%
$43,575,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$42,350,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$55,690,000
Change: +32% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$51,380,000
Change: +21% · Conversion: Difficult
AUTO REPAIR, GARAGE
$50,430,000
Change: +19% · Conversion: Difficult
WAREHOUSE, STORAGE
$44,325,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$34.42M
Range $30.98M – $37.86M · ±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
$228 / 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
$436,117
Tax year 2024
Assessed value
$25,601,260
Assessed 2024
Previous assessed
$27,683,650
-7.5% YoY
Effective rate
1.70%
On assessed value
Assessed land
$3,555,220
Assessed improvement
$22,046,040
Land market value
$3,555,220
Improvement market value
$22,046,040
Total market value
$25,601,260
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
1963
Construction
CONCRETE BLOCKS
Heating
OTHER
Stories
5
Total area
151,058 SF
Lot
6.93 ac (302,052 SF)
Zoning code
O&L I(OFFICE &LIGHT INDUS
APN
017-1-02-0023
UPID
US87-1198946
Jurisdiction
FAIRFAX
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
O&L I(OFFICE &LIGHT INDUS · Herndon, VA
Zoning O&L I(OFFICE &LIGHT INDUS · permitted uses
O&L I(OFFICE &LIGHT INDUS · Herndon, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Herndon. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$42.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$55.7M
INDUSTRIAL (GENERAL)
Est. value
$51.4M
AUTO REPAIR, GARAGE
Est. value
$50.4M
WAREHOUSE, STORAGE
Est. value
$44.3M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
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
Year built
1963
Construction
CONCRETE BLOCKS
Heating
OTHER
Stories
5
Lot
6.93 ac
Current owner
From public records · entity-resolved
Commonwealth Of Va
Individual
Free & Clear · 6 yrs held
Mailing address
220 SPG ST, HERNDON, VA 20170-6200
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
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
May 22, 2020
—
Commonwealth Of Va
F C U Northwest
Grant Deed
related
—
Dec 18, 2019
—
James J Rosolanka
—
Deed
related
$150,000 · Northwest FCU
—
—
James J Rosolanka
—
Deed Of Trust
related
$150,000 · Northwest FCU
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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