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    Property profile & analytics

    603 Broad St Falls Church, VA 22046

    • Banks
    • 5,640 SF
    • 0.41 lot acres
    For Lease
    View listing
    Last Sale
    Sep 22, 2023
    $3,850,000
    Value Estimations
    $3,960,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1210138
    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.

    Current Use by Public Records

    • Continental Federal Savings / Bank / Atm
    • Fyzical Therapy & Balance Centers Falls Church / Physical Therapy Clinic
    • Smoothie King / Breakfast Restaurant / Fast Food Restaurant

    Property Details for 603 Broad St

    Year built
    1979
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.41 lot acres
    Property size
    5,640 SF
    Zone code
    B-1 LTD.BUS
    Property type
    Banks
    APN
    52-302-248
    APU
    52302248

    Description

    This exceptional 889-square-foot retail space is ideally situated at 603 W Broad Street in the vibrant Falls Church, VA (22046) submarket. Located in a former bank building currently undergoing a facade renovation, this property offers a high-visibility corner location with significant street frontage. The space is perfect for a variety of retail uses and boasts a unique opportunity for large outdoor seating, capitalizing on the bustling pedestrian traffic of this desirable area. The property is offered as a single, available unit within a multi-tenant building. Eighteen shared surface parking spaces are available for customer and tenant use, ensuring convenient access for patrons. This prime location in the heart of Falls Church provides excellent exposure and accessibility, making it an ideal opportunity for businesses seeking a thriving retail environment. The building's renovation enhances its curb appeal and modernizes its appearance, creating a welcoming atmosphere for customers. This space presents a rare chance to establish a presence in a highly sought-after Falls Church commercial corridor. Inquire today to learn more about this exceptional retail leasing opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,960,000
      ML approach
      $3,245,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Falls Church
    County
    Falls Church City
    State
    Virginia
    Longitude
    -77.179
    Latitude
    38.887
    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
    2023
    $37,930
    $1,345,100
    $1,738,600
    $3,083,700
    -
    $1,345,100
    $1,738,600
    $3,083,700

    Comparable in this City

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      $365,000
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      225 Broad St

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    • Value Estimation
      $245,000
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      402 Broad St Ste, Unit 100

      FINANCIAL BUILDING • 2,405 SF
      402 Broad St Ste, Falls Church, VA 22046-3343
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    • Value Estimation
      $390,000
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      191 Broad St

      FINANCIAL BUILDING • 2,644 SF
      191 Broad St, Falls Church, VA 22046-4202
      View Details
    • Value Estimation
      $255,000
      6,755 SF

      125 Washington St

      FINANCIAL BUILDING • 6,755 SF
      125 Washington St, Falls Church, VA 22046-2920
      View Details
    • Value Estimation
      $3,485,000
      3,235 SF

      1000 Broad St

      FINANCIAL BUILDING • 3,235 SF
      1000 Broad St, Falls Church, VA 22046-4609
      View Details
    • Value Estimation
      $1,845,000
      1,770 SF

      1100 Broad St

      FINANCIAL BUILDING • 1,770 SF
      1100 Broad St, Falls Church, VA 22046-2114
      View Details

    Similar Nearby for Sale

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      Three Freestanding Buildings For Sale

      Three buildings on a 25,234 SF lot near Route 7.
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      Falls Church Restaurant Redevelopment

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      Falls Church Retail Building Opportunity

      Prime Location, Owner-User Potential
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    Similar Nearby for Lease

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      Adaptable commercial space with M-1 zoning in Falls Church.
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      Retail & Restaurant Space Available

      Prime retail and restaurant spaces in vibrant Falls Church.
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      Retail Space in Falls Church

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      Retail Space Available Q2 2025

      3,041 SF retail space available in Q2 2025.
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    • $37 SF/Yr
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      Retail Space in Falls Church

      Retail spaces available near new Whole Foods-anchored mixed-use project.
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      View Details
    • Contact for pricing
      1,524 SF

      Retail Space in Falls Church

      1,524 SF retail space inside the Beltway.
      116 E Fairfax St, Falls Church, VA 22046
      View Details
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    Falls Church, VA 22046
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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.

    More about this property
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