Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2824 Mary St Falls Church, VA 22042-7716

    • Office Properties & Spaces
    • 7,870 SF
    • 0.33 lot acres
    OFF-MARKET
    Last Sale
    Mar 22, 2023
    Value Estimations
    $1,195,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0218063
    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.

    Current Use by Public Records

    • Environmental Justice Alliance / Association Or Organization

    Property Details for 2824 Mary St

    Year built
    1952
    Construction
    BRICK
    Lot size
    0.33 lot acres
    Property size
    7,870 SF
    Zone code
    C-8(HIGHWAY COMMERCIAL)
    Property type
    Office Properties & Spaces
    APN
    049-2-11-0013
    APU
    492110013

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Falls Church
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.2124
    Latitude
    38.8759
    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
    $10,123
    $258,390
    $518,820
    $777,210
    -
    $258,390
    $518,820
    $777,210

    Comparable in this City

    • Value Estimation by Request

      7297 Rte 29th, Unit 5

      CONDOMINIUM OFFICES
      7297 Rte 29th, Falls Church, VA 22042-1738
      View Details
    • Value Estimation by Request

      7297 Rte 29th C Ste C

      CONDOMINIUM OFFICES
      7297 Rte 29th C Ste C, Falls Church, VA 22042-1707
      View Details
    • Value Estimation by Request

      7297 Rte 29th K Ste K

      CONDOMINIUM OFFICES
      7297 Rte 29th K Ste K, Falls Church, VA 22042-1707
      View Details
    • Value Estimation
      $1,225,000
      8,052 SF

      2948 Mdw Vw Rd

      CONDOMINIUM OFFICES • 8,052 SF
      2948 Mdw Vw Rd, Falls Church, VA 22042
      View Details
    • Value Estimation by Request

      7297 Rte 29th J Ste J

      CONDOMINIUM OFFICES
      7297 Rte 29th J Ste J, Falls Church, VA 22042-1707
      View Details
    • Value Estimation by Request

      7297 Rte 29th, Unit 13

      CONDOMINIUM OFFICES
      7297 Rte 29th, Falls Church, VA 22042-1738
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      199,783 SF

      Renovated Class A Office Building

      Recently renovated Class A office building in Merrifield submarket.
      3141 Fairview Park Dr, Falls Church, VA 22042
      View Details
    • $399,900

      Vacant Lot in Falls Church

      6,813 sqft vacant lot in the heart of Falls Church.
      2821 Douglass Ave, Falls Church, VA 22042
      View Details
    • $720,000

      Falls Church Specialty Property

      Specialty property available for sale in Falls Church, Virginia.
      3305 Graham Rd, Falls Church, VA 22042
      View Details
    • $715,000

      Specialty Property For Sale

      Specialty property available for purchase.
      6728 Barrett Rd, Falls Church, VA 22042
      View Details
    • $1,150,000

      Falls Church Specialty Property

      Specialty property available for sale in Falls Church, VA.
      6663 Kennedy Ln, Falls Church, VA 22042
      View Details
    • $1,387,500

      Falls Church Specialty Property

      Specialty property available for sale in Falls Church, Virginia.
      6424 South St S, Falls Church, VA 22042
      View Details

    Similar Nearby for Lease

    • $31 SF/Yr
      30,783 SF

      Falls Church Office Space Available

      Office space in Falls Church, with tenant-only fitness center.
      8111 Gatehouse Rd, Falls Church, VA 22042
      View Details
    • Contact for pricing
      18,516 SF

      Falls Church Office Space Available

      Office space for lease in Falls Church, Virginia.
      3110 Fairview Park Dr, Falls Church, VA 22042
      View Details
    • Contact for pricing
      407 SF

      Office Space in Graham Park

      Office space for rent in Falls Church, Virginia.
      7243-7259 Arlington Blvd, Falls Church, VA 22042
      View Details
    • Contact for pricing
      13,440 SF

      Fairview Park Office Space Available

      Office space featuring private offices, conference rooms, and flex desks.
      2941 Fairview Park Dr, Falls Church, VA 22042
      View Details
    • $33 SF/Yr
      22,046 SF

      Renovated Office Building with Signage

      Falls Church office building with tenant lounge and fitness center.
      3160 Fairview Park Dr, Falls Church, VA 22042
      View Details
    • Contact for pricing
      4,707 SF

      Fairview Park Drive Office Space

      Office space available at Fairview Park Drive, Falls Church.
      3130 Fairview Park Dr, Falls Church, VA 22042
      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.
    2824 Mary St
    Falls Church, VA 22042-7716
    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

    Google sign-in failed. Please try again or use another login method.