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    512 Ml NE St Vienna, VA 22180-4526
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    Property profile & analytics

    512 Ml NE St, Vienna, VA 22180-4526

    View on Map
    • Warehouses
    • 24,648 SF
    • 1.51 lot acres
    Off-Market
    Last Sale Jul 6, 2025
    $6,625,000
    Property ID
    US87-0601988
    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
    $5,140,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 512 Ml NE St

    Year built
    1965
    Construction
    STEEL FRAME
    Lot size
    1.51 lot acres
    Zone code
    CM(LIMITED INDUSTRIAL)
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    038-2-02-0147
    APU
    382020147

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 6, 2025 $6,625,000 Greetings From Vienna LLC 500 Mill Street LLC Special Warranty Deed $3.5M · Fvcbank
    Jul 3, 2018 — 500 Mill Street LLC — Deed · related $2.4M · National Cap Bk/wa
    Dec 1, 2011 $2,500,000 500 Mill Street LLC Vienna Properties INC Grant Deed $1.9M · Eagle Bank
    — — 500 Mill Street LLC — Deed Of Trust · related $2.6M · Premier Bk
    — — Vienna Properties INC — Deed Of Trust · related $875k · Access National Bank
    — — 500 Mill Street LLC — Deed Of Trust · related $2.4M · National Cap Bk/wa
    — — 500 Mill Street LLC — Deed Of Trust · related $500k · National Cap Bk/wa
    — — Vienna Properties INC — Deed Of Trust · related $130k · United Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,197,000
      Market price range: $3.20M - $4.11M

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

    Location Insight

    • Map
    • Local Demand
    City
    Vienna
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.2701
    Latitude
    38.9076
    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
    $49,224
    $1,817,400
    $2,017,700
    $3,835,100
    -
    $1,817,400
    $2,017,700
    $3,835,100

    Comparable in this City

    • Value Estimation
      $2,495,000
      14,560 SF

      340 Ml NE St

      MINI-WAREHOUSE, STORAGE
      340 Ml NE St, Vienna, VA 22180-4506
      View Details
    • Value Estimation
      $1,765,000
      10,061 SF

      432 Ml NE St

      MINI-WAREHOUSE, STORAGE
      432 Ml NE St, Vienna, VA 22180-4542
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    • Value Estimation
      $820,000
      4,552 SF

      Juniper St

      MINI-WAREHOUSE, STORAGE
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      View Details
    • Value Estimation
      $2,885,000
      17,075 SF

      228 Dominion NE Rd

      MINI-WAREHOUSE, STORAGE
      228 Dominion NE Rd, Vienna, VA 22180-4519
      View Details
    • Value Estimation by Request
      0.07 Acres

      Vienna, VA 22180

      MINI-WAREHOUSE, STORAGE
      Vienna, VA 22180
      View Details
    • Value Estimation
      $2,300,000
      13,398 SF

      334 Dominion NE Rd

      MINI-WAREHOUSE, STORAGE
      334 Dominion NE Rd, Vienna, VA 22180-4521
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

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      Vienna Specialty Property For Sale

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      0.31 Acres

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      Commercial Property for Sale

      Commercial property available for sale.
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      View Details
    • $650,000
      1,908 SF

      Vienna Office Condo - Prime Location

      Spacious Office Suite, Great Amenities, Medical Use OK
      301 Maple Ave, Vienna, VA 22180
      View Details

    Similar Nearby for Lease

    • $55 SF/Yr

      Freestanding Retail Building on Maple

      Rare freestanding retail opportunity in affluent Vienna, available September 2027.
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      Office space available for lease in McLean, Virginia.
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      Restaurant Space on Maple Avenue

      1,600 SF second-generation restaurant space for lease.
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      2,289 SF

      Renovated Medical Space Available

      Newly renovated medical space for rent near Merrifield Town Center.
      2826 Old Lee Hwy, Fairfax, VA 22180
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      Top Floor Corner Office Suite

      Bright office suite with flexible layout, convenient parking, and prime location.
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      View Details
    • Contact for pricing

      Retail Space at Busy Intersection

      Retail space available at a high-traffic intersection.
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      View Details
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    Vienna, VA 22180-4526
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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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