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Property profile & analytics
OFF-MARKET
Estimated value
$12,150,000
Warehouses
2799 Merrilee Dr Fairfax, VA 22031-4407
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US87-0952537
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1972
Construction
CONCRETE BLOCKS
Total area
23,071 SF
Lot
1.24 ac (54,148 SF)
Zoning code
I-5(INDUSTRIAL GENERAL)
APN
049-1-16-0011-A
UPID
US87-0952537
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
-
Sub Stop Take-out & Catering
-
Scientificgear LLC Production Facility
-
Truland Walker Seal Electrical Service General Contractor
-
City Auto Glass Auto Repair Shop (Bike/Boat/Book/etc) Store
-
Discount Hookah Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.05M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$12.15M
Owner & transaction history
Carewell Cremations LLC
Carewell Cremations LLC
since 2026
Last sale
$13.0M
7 recorded transactions
Zoning & alternative use
I-5(INDUSTRIAL GENERAL) · Fairfax, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$17.5M
+232.3%
Commercial (general)
$10.5M
+98.5%
Office building
$10.0M
+88.9%
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 Fairfax submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fairfax 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
$12,545,000
ML approach
$10,050,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$17,545,000
Change: +232% · Conversion: Difficult
COMMERCIAL (GENERAL)
$10,480,000
Change: +98% · Conversion: Difficult
OFFICE BUILDING
$9,975,000
Change: +89% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$8,505,000
Change: +61% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$7,845,000
Change: +49% · Conversion: Easy
AUTO REPAIR, GARAGE
$7,700,000
Change: +46% · Conversion: Easy
Blend value · Realmo final
$12.15M
Range $10.94M – $13.37M · ±10% · vs last sale $13.00M (Jun 25 2021)
Last sale anchor
$13.00M
Jun 25 2021
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
$527 / 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
$73,745
Tax year 2024
Assessed value
$5,745,590
Assessed 2024
Previous assessed
$5,867,820
-2.1% YoY
Effective rate
1.28%
On assessed value
Assessed land
$1,678,590
Assessed improvement
$4,067,000
Land market value
$1,678,590
Improvement market value
$4,067,000
Total market value
$5,745,590
Applied tax rate
7.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1972
Construction
CONCRETE BLOCKS
Heating
OTHER
Cooling
YES
Stories
1
Bathrooms
0
Total area
23,071 SF
Lot
1.24 ac (54,148 SF)
Zoning code
I-5(INDUSTRIAL GENERAL)
APN
049-1-16-0011-A
UPID
US87-0952537
Jurisdiction
FAIRFAX
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
I-5(INDUSTRIAL GENERAL) · Fairfax, VA
Zoning I-5(INDUSTRIAL GENERAL) · permitted uses
I-5(INDUSTRIAL GENERAL) · Fairfax, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fairfax. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$17.5M
COMMERCIAL (GENERAL)
Est. value
$10.5M
OFFICE BUILDING
Est. value
$10.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.5M
INDUSTRIAL (GENERAL)
Est. value
$7.8M
AUTO REPAIR, GARAGE
Est. value
$7.7M
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1972
Construction
CONCRETE BLOCKS
Heating
OTHER
Cooling
Yes
Stories
1
Bathrooms
0
Lot
1.24 ac
Current owner
From public records · entity-resolved
Carewell Cremations LLC
Entity
Mailing address
1605 KING ST UNIT #3, ALEXANDRIA, VA 22314-2782
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 25, 2026
$2,109,030
Carewell Cremations LLC
Merrilee Tcep LLC
Deed
$1,581,750 · Burke And Herbert Bank And Trust Co
Nov 3, 2025
—
Merrilee Warehouse Holdings LLC
—
Deed
related
$952,000 · Atlantic Union Bank
Oct 24, 2025
—
Sjpm LLC
—
Deed
related
$768,000 · M & T Bank
Jun 25, 2021
$1,300,000
Merrilee Tcep LLC
Walker Family Lllp
Special Warranty Deed
$8,287,500 · Hingham Institution For Savings
Apr 29, 2004
—
Walker Family Ltd Ptshp
Owner Name Unavailable
Grant Deed
related
—
—
—
Walker Family Lllp
—
Loan Modification
related
$4,500,000 · United Bank
—
—
Walker Family
—
Deed Of Trust
related
$4,500,000 · United Bank
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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