Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2799 Merrilee Dr Fairfax, VA 22031-4407
    Back to Search
    Property profile & analytics

    2799 Merrilee Dr, Fairfax, VA 22031-4407

    View on Map
    • Warehouses
    • 23,071 SF
    • 1.24 lot acres
    Off-Market
    Last Sale Jun 25, 2021
    $13,000,000
    Property ID
    US87-0952537
    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
    $12,150,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by 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

    Property Details for 2799 Merrilee Dr

    Year built
    1972
    Construction
    CONCRETE BLOCKS
    Lot size
    1.24 lot acres
    Zone code
    I-5(INDUSTRIAL GENERAL)
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    049-1-16-0011-A
    APU
    0491160011A

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 25, 2026 $2,109,030 Carewell Cremations LLC Merrilee Tcep LLC Deed $1.6M · Burke And Herbert Bank And Trust Co
    Nov 3, 2025 — Merrilee Warehouse Holdings LLC — Deed · related $952k · Atlantic Union Bank
    Oct 24, 2025 — Sjpm LLC — Deed · related $768k · M & T Bank
    Jun 25, 2021 $1,300,000 Merrilee Tcep LLC Walker Family Lllp Special Warranty Deed $8.3M · Hingham Institution For Savings
    Apr 29, 2004 — Walker Family Ltd Ptshp Owner Name Unavailable Grant Deed · related —
    — — Walker Family Lllp — Loan Modification · related $4.5M · United Bank
    — — Walker Family — Deed Of Trust · related $4.5M · United Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $12,545,000
      ML approach
      $10,050,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $17,545,000
      COMMERCIAL (GENERAL)
      $10,480,000
      OFFICE BUILDING
      $9,975,000
      NEIGHBORHOOD: SHOPPING CENTER
      $8,505,000
      INDUSTRIAL (GENERAL)
      $7,845,000
      AUTO REPAIR, GARAGE
      $7,700,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Fairfax
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.23
    Latitude
    38.8777
    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
    $73,745
    $1,678,590
    $4,067,000
    $5,745,590
    -
    $1,678,590
    $4,067,000
    $5,745,590

    Comparable in this City

    • Value Estimation
      $630,000
      1.00 Acres

      2808 Dorr Ave

      MINI-WAREHOUSE, STORAGE
      2808 Dorr Ave, Fairfax, VA 22031-1505
      View Details
    • Value Estimation by Request

      2931 Eskridge Rd Ste B

      MINI-WAREHOUSE, STORAGE
      2931 Eskridge Rd Ste B, Fairfax, VA 22031-2224
      View Details
    • Value Estimation by Request

      2929 Eskridge Rd E Ste

      MINI-WAREHOUSE, STORAGE
      2929 Eskridge Rd E Ste, Fairfax, VA 22031-4489
      View Details
    • Value Estimation
      $2,525,000
      20,715 SF

      2809 Merrilee Dr

      MINI-WAREHOUSE, STORAGE
      2809 Merrilee Dr, Fairfax, VA 22031-4409
      View Details
    • Value Estimation
      $1,570,000
      8,511 SF

      2929 Eskridge Rd Ste H

      MINI-WAREHOUSE, STORAGE
      2929 Eskridge Rd Ste H, Fairfax, VA 22031-2213
      View Details
    • Value Estimation
      $580,000
      2,879 SF

      2929 Eskridge Rd Ste M

      MINI-WAREHOUSE, STORAGE
      2929 Eskridge Rd Ste M, Fairfax, VA 22031-2213
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,289 SF

      Move-In Ready Medical Office Suites

      Newly renovated medical suites with patient-friendly access, surface parking, and nearby transit and major thoroughfares.
      2826 Old Lee Hwy, Fairfax, VA 22031
      View Details
    • $795,000

      Main Street Office Units

      Office units with excellent access to major routes and amenities.
      9673 Main St, Fairfax, VA 22031
      View Details
    • Contact for pricing

      Multi-Tenant Medical Office Building

      27,838 SF medical office building in Fairfax, Virginia.
      3028 Javier Rd, Fairfax, VA 22031
      View Details
    • $40,000
      700 SF

      Wellness and Healthcare Property

      For sale wellness/healthcare facility on Main St, offering a small-footprint setting for focused service operators.
      10010 Main St, Fairfax, VA 22031
      View Details
    • Contact for pricing
      19,329 SF

      Merrifield Office Building For Sale

      Office building with high traffic and strong local demographics.
      3022 Javier Rd, Merrifield, VA 22031
      View Details
    • $40,000
      700 SF

      Profitable Salon in Prime Location

      Turnkey salon with established clientele in Fairfax, Virginia.
      10010 Main St, Fairfax, VA 22031
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr

      Fairfax Warehouse Space Available

      36,060 square foot warehouse space for lease in Fairfax.
      2711 Dorr Ave, Fairfax, VA 22031
      View Details
    • Contact for pricing
      319 SF

      Merrifield Office and Warehouse Space

      Office and warehouse spaces in Fairfax, near Dunn Loring metro.
      2751 Prosperity Ave, Merrifield, VA 22031
      View Details
    • $16 SF/Yr

      Fairfax Warehouse Space Available

      Industrial warehouse space available for lease in Fairfax, Virginia.
      2817 Dorr Ave, Fairfax, VA 22031
      View Details
    • Contact for pricing

      Merrifield Business Park Space Available

      Office and warehouse spaces in Fairfax, near Dunn Loring metro.
      2700 Prosperity Ave, Fairfax, VA 22031
      View Details
    • Sponsored
      Contact for pricing

      Willow Oaks II

      Discover many ways to work your way in Willow Oaks II
      8280 Willow Oaks Corporate Dr, Fairfax, VA 22031
      View Details
    • Contact for pricing
      1,409 SF

      Fairfax Flex Space For Rent

      Flex space with drive-in door and built-out office spaces.
      3729-3739 Pickett Rd, Fairfax, VA 22031
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2799 Merrilee Dr
    Fairfax, VA 22031-4407
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2799 Merrilee Dr, Fairfax, VA, 22031
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!