Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    7390 Merritt Park Dr Manassas, VA 20109-8316
    Back to Search
    Property profile & analytics

    7390 Merritt Park Dr, Manassas, VA 20109-8316

    View on Map
    • Truck terminals
    • 97,200 SF
    • 5.41 lot acres
    Off-Market
    Last Sale Mar 11, 2021
    Property ID
    US87-3225749
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Truck terminals

    Property Details for 7390 Merritt Park Dr

    Year built
    2020
    Lot size
    5.41 lot acres
    Zone code
    HEAVY INDUSTRIAL
    Property type
    Truck terminals
    APN
    7597-24-1765
    APU
    7597241765

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 11, 2021 — Merritt Cldc345 LLC Merritt Cldc LLC Intrafamily Transfer · related $23.2M · Allianz Life Ins Co Of North America
    Oct 25, 2019 — Merritt-cldc LLC — Grant Deed · related $8.8M · M&t Bk
    Apr 10, 2017 $10,619,357 Merritt-cldc LLC Merritt-li LLC Grant Deed · related —
    Apr 3, 2017 — Merritt-cldc LLC — Loan Modification · related $7.4M · M&t Bk
    Mar 28, 2017 $8,868,561 Merritt-cldc LLC Merritt-li LLC Grant Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Manassas
    County
    Prince William
    State
    Virginia
    Longitude
    -77.5552
    Latitude
    38.7969
    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
    $163,208
    $4,121,800
    $11,267,900
    $15,389,700
    -
    $4,121,800
    $11,267,900
    $15,389,700

    Comparable in this City

    • Value Estimation by Request
      6.78 Acres

      7305 Groveton Rd

      TRUCK TERMINAL (MOTOR FREIGHT)
      7305 Groveton Rd, Manassas, VA 20109-2414
      View Details
    • Value Estimation
      $1,050,000
      175,260 SF

      7303 Cushing Rd

      TRUCK TERMINAL (MOTOR FREIGHT)
      7303 Cushing Rd, Manassas, VA 20109-2412
      View Details
    • Value Estimation
      $695,000
      108,730 SF

      7305 Groveton Rd

      TRUCK TERMINAL (MOTOR FREIGHT)
      7305 Groveton Rd, Manassas, VA 20109
      View Details
    • Value Estimation by Request
      76,800 SF

      7900 Notes Dr

      TRUCK TERMINAL (MOTOR FREIGHT)
      7900 Notes Dr, Manassas, VA 20109-2429
      View Details
    • Value Estimation by Request
      108,000 SF

      7619 Doane Dr

      TRUCK TERMINAL (MOTOR FREIGHT)
      7619 Doane Dr, Manassas, VA 20109-2430
      View Details
    • Value Estimation by Request
      9.34 Acres

      11920 Brady Ln

      TRUCK TERMINAL (MOTOR FREIGHT)
      11920 Brady Ln, Manassas, VA 20109-2400
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Class A Industrial Facility

      77,846 SF industrial facility in Western Prince William County.
      7286 Wellington Rd, Manassas, VA 20109
      View Details
    • Contact for pricing
      3,010 SF

      Industrial Unit with Outdoor Storage

      3,010 SF industrial unit with gated outdoor storage.
      11900 Livingston Rd, Manassas, VA 20109
      View Details
    • Contact for pricing

      Modern Industrial Facility in Manassas

      Modern industrial facility with features for manufacturing and distribution operations.
      8411 Virginia Meadows Dr, Manassas, VA 20109
      View Details
    • Contact for pricing

      Flex Warehouse in Northern Virginia

      Flex warehouse with integrated office, dock-high and drive-in loading.
      8461 Virginia Meadows Dr, Manassas, VA 20109
      View Details
    • Contact for pricing

      Modern Flex Warehouse in Manassas

      Tilt-up concrete flex warehouse with integrated office and multiple loading.
      8511 Virginia Meadows Dr, Manassas, VA 20109
      View Details
    • Contact for pricing
      42,668 SF

      Manassas Class A Office Building

      Class A office building with development land in Manassas, Virginia.
      11100 Endeavor Ct, Manassas, VA 20109
      View Details

    Similar Nearby for Lease

    • $15,868 /Mo

      New Construction Warehouse Space Available

      New warehouse space for lease, divisible to 4030 SF bays.
      11982 Wilton Meadows Ct, Manassas, VA 20109
      View Details
    • $26,447

      New Construction Warehouse Space Available

      New 20,150 SF warehouse for lease in Manassas, VA.
      11982 Wilton Meadows Ct, Manassas, VA 20109
      View Details
    • Contact for pricing
      155,844 SF

      Industrial Warehouse with Dock Doors

      155,844 SF warehouse with 40 dock doors for lease.
      7901 Coppermine Dr, Manassas, VA 20109
      View Details
    • Contact for pricing
      16,000 SF

      Manassas Warehouse Space Available

      16,000 SF warehouse with office space for lease.
      7890 Notes Dr, Manassas, VA 20109
      View Details
    • $15,868 /Mo

      Manassas Warehouse Suite For Lease

      12,090 SF warehouse suite available for immediate occupancy.
      11954 Wilton Meadows Ct, Manassas, VA 20109
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7390 Merritt Park Dr
    Manassas, VA 20109-8316
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    7390 Merritt Park Dr, Manassas, VA, 20109
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!