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    251 Exchange Pl Herndon, VA 20170
    Property profile & analytics

    251 Exchange Pl, Herndon, VA 20170

    View on Map
    • Warehouses
    • 73,094 SF
    • 3.63 lot acres
    For Lease
    $15 SF/Yr
    View Listing →
    Herndon Industrial Space Available For Lease
    $15 SF/Yr
    24,000 SF

    Herndon Industrial Space Available

    24,000 square feet of industrial space for lease.

    251 Exchange Pl, Herndon, VA
    View Listing
    Property ID
    US87-0221413
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $17,475,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Digital Realty Data Center / Telecommunications Service / Data Center
    • Beanstalk / Food Processing Plant
    • Lincoln Rackhouse / Data Center / IT Consulting Firm

    Property Details for 251 Exchange Pl

    Year built
    1985
    Construction
    STEEL FRAME
    Lot size
    3.63 lot acres
    Zone code
    O&L I(OFFICE &LIGHT INDUS
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    016-4-10-0001-C
    APU
    0164100001C

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 6, 2021 $18,939,533 Pool 5 Industrial Va LLC Exeter 251 Exchange Place LLC Deed —
    Oct 24, 2019 — Exeter 251 Exchange Place LLC — Grant Deed · related $161.4M · Bank Of America
    May 30, 2018 $8,050,000 Exeter 251 Exchange Place LLC Fglp Exchange Faraday LP Grant Deed —
    Aug 3, 2016 $3,000,000 Fglp Exchange Faraday LP 251 Exchange Owner LLC Grant Deed —
    Jul 12, 2016 $6,000,000 251 Exchange Owner LLC Digital Realty Trust LP Grant Deed —
    Nov 30, 2005 $12,850,000 Digital Realty Trust LP Delmar Investment Group LLC Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $18,275,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $13,754,000
      Market price range: $13.8M - $31.1M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $21,450,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $26,950,000
      Change: +26% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $24,860,000
      Change: +16% Conversion: Easy
      AUTO REPAIR, GARAGE
      $24,405,000
      Change: +14% Conversion: Easy
      OFFICE BUILDING
      $20,495,000
      Change: -4% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Herndon
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.3818
    Latitude
    38.9567
    CBSA code
    47900
    CBSA name
    WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $155,695
    $1,754,260
    $7,385,470
    $9,139,730
    -
    $1,754,260
    $7,385,470
    $9,139,730

    Comparable in this City

    • Value Estimation
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      49,000 SF

      385 Spg St

      MINI-WAREHOUSE, STORAGE
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    • Value Estimation by Request
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      500 Carlisle Dr

      MINI-WAREHOUSE, STORAGE
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      285 Sunset Park Dr

      MINI-WAREHOUSE, STORAGE
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      290 Sunset Park Dr

      MINI-WAREHOUSE, STORAGE
      290 Sunset Park Dr, Herndon, VA 20170-5219
      View Details
    • Value Estimation by Request
      1,400 SF

      283 Sunset Park Dr

      MINI-WAREHOUSE, STORAGE
      283 Sunset Park Dr, Herndon, VA 20170-5220
      View Details
    • Value Estimation by Request
      2,230 SF

      292 Sunset Park Dr, Unit 13

      MINI-WAREHOUSE, STORAGE
      292 Sunset Park Dr, Herndon, VA 20170-5219
      View Details

    Similar Nearby for Sale

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      Pending

      Herndon Flex Warehouse For Sale

      Flex warehouse with 14' roll-up door and 18' ceilings.
      631 Carlisle Dr, Herndon, VA 20170
      View Details
    • Contact for pricing
      Pending

      Herndon Flex Warehouse For Sale

      Flex warehouse with open space, high ceilings, and grade-level door.
      631-631 Carlisle Dr, Herndon, VA 20170
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    • Contact for pricing

      Herndon Parkway Office Suites Available

      Affordable, renovated offices near Metro
      464 Herndon Pkwy, Herndon, VA 20170
      View Details
    • Contact for pricing
      0.98 Acres

      Herndon Retail Space - Grant Street

      Prime Herndon location, 2nd floor retail/office.
      720 Grant St, Herndon, VA 20170
      View Details
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      Retail Property with Business Opportunity

      Retail property suitable for various business styles and opportunities.
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    • $8,000,000
      27,000 SF

      Herndon Religious Center & Residence

      Spacious 27,000 sq ft property on 4.73 acres
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    Similar Nearby for Lease

    • Contact for pricing
      24,000 SF

      Herndon Industrial Space Available

      24,000 square feet of industrial space for lease.
      251 Exchange Pl, Herndon, VA 20170
      View Details
    • Contact for pricing
      68,629 SF

      Dulles Corridor Flex Space

      Flex space in Dulles Corridor, close to airport.
      360 Herndon Pkwy, Herndon, VA 20170
      View Details
    • Contact for pricing
      9,586 SF

      Herndon Flex Space Available

      Flex space with convenient access to major transportation routes.
      505 Huntmar Park Dr, Herndon, VA 20170
      View Details
    • $39 SF/Yr
      14,776 SF

      Herndon Office Space For Rent

      Office space in Dulles Technology Corridor with corporate signage.
      12930 Worldgate Dr, Herndon, VA 20170
      View Details
    • $3,900 /Mo
      162,479 SF

      Herndon Office Space For Lease

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      View Details
    View Listing
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    Herndon, VA 20170
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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