Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2923 Annandale Rd Falls Church, VA 22042-2250
    Back to Search
    Property profile & analytics

    2923 Annandale Rd Falls Church, VA 22042-2250

    View on Map
    • Automotive properties
    • 51,171 SF
    • 3.76 lot acres
    Off-Market
    Property ID
    US87-2285795
    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
    $2,040,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bill Page Toyota / Car Dealership
    • Bill Page Toyota Service / Auto Repair Shop
    • Bill Page Toyota Parts / Auto Parts Store

    Property Details for 2923 Annandale Rd

    Lot size
    3.76 lot acres
    Property size
    51,171 SF
    Zone code
    C-8(HIGHWAY COMMERCIAL)
    Property type
    Automotive properties
    APN
    050-4-01-0025-A
    APU
    0504010025A

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Falls Church
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.174
    Latitude
    38.8711
    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
    $204,759
    $4,581,780
    $11,138,680
    $15,720,460
    -
    $4,581,780
    $11,138,680
    $15,720,460

    Comparable in this City

    • Value Estimation
      $550,000
      1,568 SF

      7610 Rte 29

      SERVICE STATION (FULL SERVICE) • 1,568 SF
      7610 Rte 29, Falls Church, VA 22042-2869
      View Details
    • Value Estimation by Request
      1,920 SF

      7233 Arlington Blvd

      SERVICE STATION (FULL SERVICE) • 1,920 SF
      7233 Arlington Blvd, Falls Church, VA 22042-3219
      View Details
    • Value Estimation by Request
      9,759 SF

      3312 Gallows Rd

      PARKING LOT • 9,759 SF
      3312 Gallows Rd, Falls Church, VA 22042-3353
      View Details
    • Value Estimation
      $610,000
      2,145 SF

      8030 Rte 29

      SERVICE STATION (FULL SERVICE) • 2,145 SF
      8030 Rte 29, Falls Church, VA 22042-1115
      View Details
    • Value Estimation by Request
      3,200 SF

      7451 Rte 29

      AUTO REPAIR, GARAGE • 3,200 SF
      7451 Rte 29, Falls Church, VA 22042-1706
      View Details
    • Value Estimation
      $685,000
      1,325 SF

      6661 Arlington Blvd

      GAS STATION • 1,325 SF
      6661 Arlington Blvd, Falls Church, VA 22042-3002
      View Details

    Similar Nearby for Sale

    • $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
    • Contact for pricing
      254,898 SF

      Falls Church Office Space Available

      Office space for lease in Falls Church, Virginia.
      3110 Fairview Park Dr, Falls Church, VA 22042
      View Details
    • New
      $629,900
      1,500 SF

      Commercial Townhouse in Falls Church

      Commercial townhouse in a high-traffic, easily accessible location.
      7297 Rte 29, Falls Church, VA 22042
      View Details
    • $4,500,000

      Church in Falls Church

      Existing church in a wonderful community neighborhood.
      3464 Annandale Rd, Falls Church, VA 22042
      View Details
    • Contact for pricing
      22,876 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

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space on Arlington Blvd

      20,000 SF retail space on 2.54 acres.
      6326 Arlington Blvd, Falls Church, VA 22042
      View Details
    • Contact for pricing
      3,286 SF

      Retail Space in Graham Park

      Retail space available in renovated Graham Park shopping center.
      7263 Arlington Blvd, Falls Church, VA 22042
      View Details
    • Contact for pricing
      2,330 SF

      Retail Space on Gallows Road

      Retail space available in Falls Church, Virginia.
      2950-2982 Gallows Rd, Falls Church, VA 22042
      View Details
    • Contact for pricing

      Retail Space Anchored by Safeway

      Retail space in renovated shopping center with high traffic.
      7395-7397 Lee Hwy, Falls Church, VA 22042
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail and restaurant spaces available for lease.
      8190 Strawberry Ln, Falls Church, VA 22042
      View Details
    • Contact for pricing

      Retail Land For Lease

      Approximately 1.23 acre retail land for lease.
      3023 Annandale Rd, 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.
    2923 Annandale Rd
    Falls Church, VA 22042-2250
    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
    2923 Annandale Rd, Falls Church, VA, 22042
    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!