Back to Search
Property profile & analytics
FOR LEASE
Community centers
494 Elden St Herndon, VA 20170
Individually Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-0833030
For Lease
1 / 4
$22,125,000
494 Elden St, Herndon, VA 20170
View Listing →
Property summary
AI-generated overview
This exceptional retail opportunity is located at 494 Elden St, Herndon, VA 20170, within the Herndon Centre I complex. The property offers a total of 84,619 square feet of commercial retail space, with one unit currently available, measuring 2,752 square feet. This prime location boasts strong anchor tenants including Sprouts Farmers Market, LA Fitness, IHOP, and MOD Pizza, ensuring high foot traffic and visibility. Situated in Fairfax County, the center benefits from a dense population base
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1978
Construction
CONCRETE BLOCKS
Total area
102,080 SF
Lot
7.59 ac (330,821 SF)
Zoning code
PD-SC(PLANNED DEV SHOP CE
APN
016-2-24-A
UPID
US87-0833030
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
-
Sears Heating and Air Conditioning HVAC Service General Contractor
-
Visual Health Doctors of Optometry - Herndon Physician
-
Sprouts Farmers Market Grocery & Convenience Store Food Market
-
The Dental Office of Herndon Dental Office
-
TenderFix by Noah Schnapp Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$24.34M
Blend (final)
Blend
$22.13M
Owner & transaction history
Commonwealth Of Virginia · 4 yrs held
Commonwealth Of Virginia
since 2021
Last sale
$33,900
4 recorded transactions
Zoning & alternative use
PD-SC(PLANNED DEV SHOP CE · Herndon, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Herndon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Herndon 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$34,720,000
Change: -8% · Conversion: Difficult
AUTO REPAIR, GARAGE
$34,080,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$22.13M
Range $19.91M – $24.34M · ±10% · vs last sale $34k (Nov 12 2021)
Last sale anchor
$34k
Nov 12 2021
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
$217 / 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
$350,766
Tax year 2024
Assessed value
$22,725,340
Assessed 2024
Previous assessed
$22,201,680
+2.4% YoY
Effective rate
1.54%
On assessed value
Assessed land
$13,894,480
Assessed improvement
$8,830,860
Land market value
$13,894,480
Improvement market value
$8,830,860
Total market value
$22,725,340
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
Community centers
Use group
MINI-MALL
Status
For Lease
Year built
1978
Construction
CONCRETE BLOCKS
Heating
ELECTRIC
Cooling
YES
Stories
1
Total area
102,080 SF
Lot
7.59 ac (330,821 SF)
Zoning code
PD-SC(PLANNED DEV SHOP CE
APN
016-2-24-A
UPID
US87-0833030
Jurisdiction
FAIRFAX
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
PD-SC(PLANNED DEV SHOP CE · Herndon, VA
Zoning PD-SC(PLANNED DEV SHOP CE · permitted uses
PD-SC(PLANNED DEV SHOP CE · Herndon, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Herndon. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL)
Est. value
$34.7M
AUTO REPAIR, GARAGE
Est. value
$34.1M
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
1978
Construction
CONCRETE BLOCKS
Heating
ELECTRIC
Cooling
Yes
Stories
1
Lot
7.59 ac
Current owner
From public records · entity-resolved
Commonwealth Of Virginia
Individual
Free & Clear · 4 yrs held
Mailing address
302 DATURA ST STE #100, WEST PALM BEACH, FL 33401-5481
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 12, 2021
$33,900
Commonwealth Of Virginia
Svap II Herndon Centre LLC
Special Warranty Deed
—
Aug 16, 2018
—
Svap II Herndon Centre LLC
—
Grant Deed
related
$22,000,000 · Citizens Bk NA
Aug 31, 2016
$7,000,000
Svap II Herndon Centre LLC
494 Elden Street LLC
Grant Deed
—
Mar 22, 2013
—
494 Elden Street LLC
—
Deed Of Trust
related
$2,600,000 · Cardinal 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.
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?”
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.
