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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6929 Matthew Pl Springfield, VA 22151-3607

    • Assisted living facilities
    • 54,644 SF
    • 3.89 lot acres
    OFF-MARKET
    Value Estimations
    $1,415,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1821889
    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

    • Gail Jones / Medical Specialist
    • Kathryn Dietrich / Occupational Therapist
    • Pamela Patz / Speech Pathologist
    • LUXE Unlimited Salon and Spa / Beauty Salon
    • Patricia L. Smith, OTR / Occupational Therapist

    Property Details for 6929 Matthew Pl

    Year built
    1998
    Construction
    STEEL FRAME
    Lot size
    3.89 lot acres
    Property size
    54,644 SF
    Zone code
    R-5(RESIDENTIAL 5 DU/AC)
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    071-4-02-0004-A
    APU
    0714020004A

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,210,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,619,000
      Market price range: $647k - $3.15M

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $1,275,000
      Current use
      AUTO REPAIR, GARAGE
      $2,310,000
      Change: +81% Conversion: Difficult
      MEDICAL BUILDING
      $2,105,000
      Change: +65% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.1842
    Latitude
    38.809
    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
    $135,446
    $2,772,000
    $8,919,480
    $11,691,480
    -
    $2,772,000
    $8,919,480
    $11,691,480

    Comparable in this City

    • Value Estimation
      $1,385,000
      3,500 SF

      5312 Carolina Pl

      MEDICAL BUILDING • 3,500 SF
      5312 Carolina Pl, Springfield, VA 22151-4401
      View Details
    • Value Estimation
      $550,000
      1.83 Acres

      7121 Wimsatt Rd

      PRINTING, PUBLISHING (LIGHT INDUSTRIAL) • 1.83 Acres
      7121 Wimsatt Rd, Springfield, VA 22151-4005
      View Details
    • Value Estimation by Request
      0.81 Acres

      Springfield, VA 22151

      RECREATIONAL, ENTERTAINMENT • 0.81 Acres
      Springfield, VA 22151
      View Details
    • Value Estimation
      $14,085,000
      63,262 SF

      6860 Commercial Dr

      OFFICE BUILDING • 63,262 SF
      6860 Commercial Dr, Springfield, VA 22151-4201
      View Details
    • Value Estimation
      $1,965,000
      10,488 SF

      6600 Electronic Dr

      LUMBER & WOOD PRODUCT MFG • 10,488 SF
      6600 Electronic Dr, Springfield, VA 22151-4300
      View Details
    • Value Estimation
      $15,835,000
      71,103 SF

      8001 Forbes Pl

      OFFICE BUILDING • 71,103 SF
      8001 Forbes Pl, Springfield, VA 22151-2208
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Springfield Office Building, 4.85 Acres

      Prime Springfield office space, expansive acreage.
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      SPRINGFIELD Office Investment Opportunity

      Two-level office condo with tenant in place near I-495.
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      Springfield Medical Office Space

      Turnkey medical office, excellent location. High visibility, ample parking.
      5510 Alma Ln, Springfield, VA 22151
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    • Contact for pricing
      4.85 Acres

      8001 Braddock Rd, Springfield, VA 22151

      Office Properties & Spaces • 4.85 Acres
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    • $649,900

      Specialty Property For Sale

      Specialty property available for purchase.
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    Similar Nearby for Lease

    • $22 SF/Yr
      44,229 SF

      Springfield Office Building For Rent

      Three-story office building in Springfield, Virginia, near Capital Beltway.
      8003 Forbes Pl, Springfield, VA 22151
      View Details
    • $14 SF/Yr
      2,309 SF

      Flex Space Near I-495

      Flex space with immediate I-495 access, Fairfax County zoning.
      5405-5407 Port Royal Rd, Springfield, VA 22151
      View Details
    • Contact for pricing
      2,430 SF

      Retail Space in Burke Center

      Community shopping center with retail space available for lease.
      8970 Burke Lake Rd, Burke, VA 22151
      View Details
    • $15 SF/Yr

      Springfield Freestanding Building For Lease

      15000 SF freestanding building in prime Springfield location for lease.
      6606 Electronic Dr, Springfield, VA 22151
      View Details
    • $24 SF/Yr
      105,142 SF

      Prominent Office Building Near Beltway

      Six-story, 105,000 SF office building with convenient highway access.
      8001 Braddock Rd, Springfield, VA 22151
      View Details
    • Contact for pricing
      54,611 SF

      Industrial Space Near Washington DC

      93,968 SF industrial space with warehouse and office components.
      6608-6610 Electronic Dr, Springfield, VA 22151
      View Details
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    6929 Matthew Pl
    Springfield, VA 22151-3607
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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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