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    Property profile & analytics

    720 Grant St Herndon, VA 20170

    • Strip malls
    • 10,975 SF
    • 0.98 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0897531
    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

    • Pupusas Express / Restaurant
    • Sarina Beauty Place / Hair Salon / Nail Salon
    • Fitness Fervor / Physician
    • Vapor Cafe / Bar & Pub / (Bike/Boat/Book/etc) Store
    • Fairprice Halal Meat & Groceries / Grocery & Convenience Store / Food Market

    Property Details for 720 Grant St

    Year built
    1952
    Lot size
    0.98 lot acres
    Property size
    10,975 SF
    Zone code
    CS(COMM SERVICES DISTRICT
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    016-2-11-0001
    APU
    162110001

    Description

    This exceptional retail property, located at 720 Grant Street in Herndon, Virginia, offers 2,750 square feet of versatile space currently available for lease. The property is classified as a shopping center with multiple tenancy options. Individual spaces range from a minimum of 559 square feet to a maximum contiguous space of 1,150 square feet, providing flexibility for a variety of retail businesses. The entire 2,750 square feet is currently vacant, presenting a unique opportunity for a single tenant to occupy the entire building or for multiple tenants to lease individual units. The property's address is 720 Grant Street, Herndon, VA 20170, offering excellent visibility and accessibility within the vibrant Herndon community. This location provides convenient access to major transportation routes and a strong customer base. The property is ideal for businesses seeking a high-traffic location with ample space to establish a thriving retail presence. Interested parties are encouraged to inquire about lease terms and availability. The property is ready for immediate occupancy. This is a rare opportunity to secure a prominent retail space in a desirable Herndon location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,693,000
      Market price range: $2.61M - $6.33M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $4,045,000
      Current use
      INDUSTRIAL (GENERAL)
      $3,735,000
      Change: -8% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,665,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Herndon
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.3786
    Latitude
    38.9693
    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
    $53,232
    $982,880
    $2,465,930
    $3,448,810
    -
    $982,880
    $2,465,930
    $3,448,810

    Comparable in this City

    • Value Estimation
      $17,735,000
      79,382 SF

      1025 Herndon Pkwy

      SHOPPING CENTER, STRIP CENTER • 79,382 SF
      1025 Herndon Pkwy, Herndon, VA 20170-5524
      View Details
    • Value Estimation by Request
      327 SF

      706 Elden St Sta, Unit A

      SHOPPING CENTER, STRIP CENTER • 327 SF
      706 Elden St Sta, Herndon, VA 20170-4634
      View Details
    • Value Estimation by Request
      0.14 Acres

      Herndon, VA 20170

      SHOPPING CENTER, STRIP CENTER • 0.14 Acres
      Herndon, VA 20170
      View Details
    • Value Estimation
      $640,000
      3,414 SF

      700 Lynn St Sta, Unit A

      SHOPPING CENTER, STRIP CENTER • 3,414 SF
      700 Lynn St Sta, Herndon, VA 20170-4601
      View Details
    • Value Estimation
      $4,330,000
      14,000 SF

      905 Herndon Pkwy

      SHOPPING CENTER, STRIP CENTER • 14,000 SF
      905 Herndon Pkwy, Herndon, VA 20170-5536
      View Details
    • Value Estimation by Request
      461 SF

      702 Elden St Sta, Unit A

      SHOPPING CENTER, STRIP CENTER • 461 SF
      702 Elden St Sta, Herndon, VA 20170-4634
      View Details

    Similar Nearby for Sale

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      Herndon Commercial Condominium Units

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      Retail Property with Business Opportunity

      Retail property suitable for various business styles and opportunities.
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      0.98 Acres

      Herndon Retail Space - Grant Street

      Prime Herndon location, 2nd floor retail/office.
      720 Grant St, Herndon, VA 20170
      View Details
    • $319,000

      Prime Storefront on High-Traffic Street

      Storefront for sale in high-traffic Herndon location.
      702 Elden St, Herndon, VA 20170
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    • $319,000

      Prime Storefront on High-Traffic Street

      Visible and accessible storefront in the heart of Herndon, VA.
      702 Elden St, Herndon, VA 20170
      View Details
    • $1,395,000

      Retail Property with Business Opportunity

      Retail property with existing business and potential for new ventures.
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    Similar Nearby for Lease

    • Contact for pricing
      2,750 SF

      Herndon Retail Center - Grant St

      Prime Herndon retail space available.
      720 Grant St, Herndon, VA 20170
      View Details
    • Contact for pricing
      1,440 SF

      Herndon Retail Space For Rent

      Retail space available in a lifestyle center with ample parking.
      13037 Worldgate Dr, Herndon, VA 20170
      View Details
    • Contact for pricing
      2,995 SF

      Retail Space in Herndon Center

      Retail space available in Herndon, Virginia shopping center.
      494 Elden St, Herndon, VA 20170
      View Details
    • Contact for pricing
      3,162 SF

      Retail Space Anchored by HMart

      Retail space in Fairfax County, anchored by HMart.
      1228 Elden St, Herndon, VA 20170
      View Details
    • Contact for pricing
      105,700 SF

      Herndon Retail Space - 105,700 SF

      Prime Herndon retail building, 7 acres, high visibility.
      2100 Centreville Rd, Herndon, VA 20170
      View Details
    • $23 SF/Yr
      7,796 SF

      Herndon Office Space for Lease

      Prime Herndon location, multiple suites available.
      208 Elden St, Herndon, VA 20170
      View Details
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    720 Grant St
    Herndon, VA 20170
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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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