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    2941 Fairview Park Dr Falls Church, VA 22042
    Property profile & analytics

    2941 Fairview Park Dr, Falls Church, VA 22042

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    • Office buildings
    • 401,218 SF
    • 13.78 lot acres
    For Lease
    View Listing →
    Fairview Park Office Space Available For Lease
    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
    View Listing
    Property ID
    US87-0958705
    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
    $99,245,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Opal Carpet Cleaning Services / Carpet Cleaning Service
    • Focused Image / Advertising Agency / Marketing & Advertising
    • Brett Sposa- Kingsview Partners / Financial Advisor
    • PACEM Solutions International LLC / Business Management Consultant
    • Chemring North America / Car Rental Facility

    Property Details for 2941 Fairview Park Dr

    Year built
    2000
    Construction
    STEEL FRAME
    Lot size
    13.78 lot acres
    Property size
    401,218 SF
    Zone code
    PDC(COM/INDUST/RETAIL)
    Property type
    Office buildings
    APN
    049-4-01-0074-A
    APU
    0494010074A

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      Off market

    • CAP approach

      CAP Return
      Estimation
      6%
      $135,020,000
      6.5%
      $124,635,000
      7%
      $115,730,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $108,966,000
      Market price range: $88.6M - $139M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $108,600,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $147,920,000
      Change: +36% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $137,250,000
      Change: +26% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $136,470,000
      Change: +26% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $133,950,000
      Change: +23% Conversion: Difficult
      WAREHOUSE, STORAGE
      $117,735,000
      Change: +8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Falls Church
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.2147
    Latitude
    38.869
    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
    $1,076,051
    $10,440,000
    $73,397,220
    $83,837,220
    -
    $10,440,000
    $73,397,220
    $83,837,220

    Comparable in this City

    • Value Estimation
      $47,885,000
      267,796 SF

      Falls

      OFFICE BUILDING • 267,796 SF
      Falls, Church, VA 22042
      View Details
    • Value Estimation
      $4,325,000
      28,464 SF

      7389 Rte 29

      OFFICE BUILDING • 28,464 SF
      7389 Rte 29, Falls Church, VA 22042-1736
      View Details
    • Value Estimation
      $780,000
      3,592 SF

      6700 Arlington Blvd

      OFFICE BUILDING • 3,592 SF
      6700 Arlington Blvd, Falls Church, VA 22042-2105
      View Details
    • Value Estimation by Request
      306,193 SF

      3170 Fairview Park Dr

      OFFICE BUILDING • 306,193 SF
      3170 Fairview Park Dr, Falls Church, VA 22042-4516
      View Details
    • Value Estimation
      $33,765,000
      204,210 SF

      8115 Gatehouse Rd

      OFFICE BUILDING • 204,210 SF
      8115 Gatehouse Rd, Falls Church, VA 22042-1203
      View Details
    • Value Estimation
      $1,515,000
      9,997 SF

      2921 Linden Ln

      OFFICE BUILDING • 9,997 SF
      2921 Linden Ln, Falls Church, VA 22042
      View Details

    Similar Nearby for Sale

    • 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
    • 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
    • $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
    • $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
    • $107,000
      0.05 Acres

      Residential Lot in Falls Church

      Residential lot available in Fairfax County, Falls Church, Virginia.
      Liberty Ave, Falls Church, VA 22042
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      22,063 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
      115,348 SF

      Fairview Park Drive Office Space

      Office building with 115,348 square feet of space.
      3190 Fairview Park Dr, Falls Church, VA 22042
      View Details
    • $3,800 /Mo

      Modern Office Space Available

      Modern 1,600 SF office space for lease in Falls Church.
      2842 Stuart 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
    • $4 SF/Yr

      Falls Church Office Sublease Opportunity

      Plug-and-play office suite available for sublease through July 2030.
      6400 Arlington Blvd, Falls Church, VA 22042
      View Details
    • Contact for pricing
      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
    View Listing
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    Falls Church, VA 22042
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    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.

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