Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$4,250,000
Warehouses
2803 Merrilee Dr Fairfax, VA 22031-4409
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-0624303
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1973
Construction
CONCRETE BLOCKS
Total area
9,234 SF
Lot
0.44 ac (19,200 SF)
Zoning code
I-5(INDUSTRIAL GENERAL)
APN
049-1-16-0011
UPID
US87-0624303
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
-
B&F Ceramics Design Showroom Hardware & Home Improvement Carpet & Flooring Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.25M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.74M
Blend (final)
Blend
$4.25M
Owner & transaction history
2803 Merrilee Dr LLC · 2 yrs held
2803 Merrilee Dr LLC
since 2024
Last sale
$4.3M
3 recorded transactions
Zoning & alternative use
I-5(INDUSTRIAL GENERAL) · Fairfax, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.0M
+232.3%
Commercial (general)
$4.2M
+98.5%
Office building
$4.0M
+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
$4,250,000
ML approach
$4,250,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$7,020,000
Change: +232% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,195,000
Change: +98% · Conversion: Difficult
OFFICE BUILDING
$3,990,000
Change: +89% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,405,000
Change: +61% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$3,140,000
Change: +49% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,085,000
Change: +46% · Conversion: Easy
Blend value · Realmo final
$4.25M
Range $3.83M – $4.68M · ±10% · vs last sale $4.25M (Jun 5 2024)
Last sale anchor
$4.25M
Jun 5 2024
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
$460 / 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
$35,429
Tax year 2024
Assessed value
$2,760,310
Assessed 2024
Previous assessed
$2,394,470
+15.3% YoY
Effective rate
1.28%
On assessed value
Assessed land
$595,200
Assessed improvement
$2,165,110
Land market value
$595,200
Improvement market value
$2,165,110
Total market value
$2,760,310
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
1973
Construction
CONCRETE BLOCKS
Heating
OTHER
Cooling
YES
Stories
1
Bathrooms
1
Total area
9,234 SF
Lot
0.44 ac (19,200 SF)
Zoning code
I-5(INDUSTRIAL GENERAL)
APN
049-1-16-0011
UPID
US87-0624303
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
$7.0M
COMMERCIAL (GENERAL)
Est. value
$4.2M
OFFICE BUILDING
Est. value
$4.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.4M
INDUSTRIAL (GENERAL)
Est. value
$3.1M
AUTO REPAIR, GARAGE
Est. value
$3.1M
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
1973
Construction
CONCRETE BLOCKS
Heating
OTHER
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.44 ac
Current owner
From public records · entity-resolved
2803 Merrilee Dr LLC
Entity
Mailing address
14175 SULLYFIELD CIR STE #500, CHANTILLY, VA 20151-1811
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Jun 5, 2024
$4,250,000
2803 Merrilee Dr LLC
Bfcmd LLC
Deed
$2,975,000 · First National Bank Of Pennsylvania
Aug 16, 2012
$1,850,000
Bfcmd LLC
Bull Run Depot LLC
Grant Deed
$1,480,000 · Fulton Bank
—
—
Bull Run Depot LLC
—
Deed Of Trust
related
$250,000 · Potomac Bank Of Virginia
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2803 Merrilee Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
