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Property profile & analytics
OFF-MARKET
Estimated value
$7,550,000
Office buildings
2921 Telestar Ct Falls Church, VA 22042-1205
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-0221406
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1970
Construction
CONCRETE BLOCKS
Total area
20,480 SF
Lot
0.97 ac (42,372 SF)
Zoning code
I-5(INDUSTRIAL GENERAL)
APN
049-4-04-0006
UPID
US87-0221406
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
-
Center for Vascular Medicine - Falls Church Medical Clinic Hospital
-
Pamela Crippen Physician
-
Ruthann Wheeler Physician
-
Christiana Labarca Physician
-
Dr. Gary L. Coke, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.79M
CAP Approach
CAP
$6.36M
Comparable Approach
Comparable
$7.08M
Blend (final)
Blend
$7.55M
Owner & transaction history
Telestar Holding LLC · 4 yrs held
Telestar Holding LLC
since 2022
Last sale
$7.5M
5 recorded transactions
Zoning & alternative use
I-5(INDUSTRIAL GENERAL) · Falls Church, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$7.6M
+36.2%
Commercial (general)
$7.0M
+26.4%
Industrial (general)
$7.0M
+25.7%
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 Falls Church submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Falls Church 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
$7,880,000
ML approach
$7,790,000
CAP Approach
CAP Return
Estimation
6%
$6,890,000
6.5%
$6,360,000
7%
$5,910,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,545,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$7,550,000
Change: +36% · Conversion: Difficult
COMMERCIAL (GENERAL)
$7,005,000
Change: +26% · Conversion: Easy
INDUSTRIAL (GENERAL)
$6,965,000
Change: +26% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,835,000
Change: +23% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,010,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$7.55M
Range $6.80M – $8.31M · ±10% · vs last sale $7.50M (Mar 11 2022)
Last sale anchor
$7.50M
Mar 11 2022
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
$369 / 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
$79,451
Tax year 2024
Assessed value
$6,099,860
Assessed 2024
Previous assessed
$6,841,250
-10.8% YoY
Effective rate
1.30%
On assessed value
Assessed land
$593,920
Assessed improvement
$5,505,940
Land market value
$593,920
Improvement market value
$5,505,940
Total market value
$6,099,860
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1970
Construction
CONCRETE BLOCKS
Heating
OTHER
Cooling
YES
Stories
2
Rooms
19
Bathrooms
1
Total area
20,480 SF
Lot
0.97 ac (42,372 SF)
Zoning code
I-5(INDUSTRIAL GENERAL)
APN
049-4-04-0006
UPID
US87-0221406
Jurisdiction
FAIRFAX
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
I-5(INDUSTRIAL GENERAL) · Falls Church, VA
Zoning I-5(INDUSTRIAL GENERAL) · permitted uses
I-5(INDUSTRIAL GENERAL) · Falls Church, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Falls Church. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$5.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.6M
COMMERCIAL (GENERAL)
Est. value
$7.0M
INDUSTRIAL (GENERAL)
Est. value
$7.0M
AUTO REPAIR, GARAGE
Est. value
$6.8M
WAREHOUSE, STORAGE
Est. value
$6.0M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1970
Construction
CONCRETE BLOCKS
Heating
OTHER
Cooling
Yes
Stories
2
Rooms
19
Bathrooms
1
Lot
0.97 ac
Current owner
From public records · entity-resolved
Telestar Holding LLC
Entity
Mailing address
6421 BEULAH ST, ALEXANDRIA, VA 22310-2627
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2024
—
Telestar Holding LLC
—
Deed
related
$4,086,000 · Business Finance Group INC
Mar 11, 2022
$7,500,000
Telestar Holding LLC
Telestar Virginia LLC
Special Warranty Deed
$5,690,000 · Live Oak Banking Company
May 1, 2017
$6,000,000
Telestar Virginia LLC
Cvtsa Telestar Investment LLC
Grant Deed
related
$3,600,000 · Freedom Bk/va
Nov 15, 2005
$7,392,173
Cvtsa Telestar Investment LLC
2921 Telestar Court LLC
Deed Of Trust
related
$6,080,000 · Cardinal Bank
Apr 18, 2005
$3,100,000
2921 Telestar Court LLC
R & M General Ptshp
Deed Of Trust
related
$4,650,000 · Alliance 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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