Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7516 Diplomat Dr, Unit 2 Manassas, VA 20109-2691

    • Office Properties & Spaces
    • 931 SF
    • 1.55 lot acres
    OFF-MARKET
    Last Sale
    Mar 04, 2024
    $220,000
    Value Estimations
    $205,000
    Show details
    Cap Rate Potential
    8%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US87-3924666
    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

    • Skyline Insurance Agency, Inc. / Life Insurance Agency / Motorcycle Insurance Agency
    • Elevated Contracting / Window Installation Service / Roofing Contractor

    Property Details for 7516 Diplomat Dr

    Year built
    1987
    Lot size
    1.55 lot acres
    Property size
    931 SF
    Zone code
    GENERAL BUSINESS
    Property type
    Office Properties & Spaces
    APN
    7697-23-7889.03
    APU
    769723788903

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $220,000
      ML approach
      $220,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $220,000
      6.5%
      $205,000
      7%
      $190,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $156,000
      Market price range: $83.4k - $239k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $155,000
      Current use
      AUTO REPAIR, GARAGE
      $275,000
      Change: +77% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $185,000
      Change: +17% Conversion: Easy
      RETAIL STORES
      $175,000
      Change: +12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Manassas
    County
    Prince William
    State
    Virginia
    Longitude
    -77.5179
    Latitude
    38.794
    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
    $1,598
    $23,400
    $130,200
    $153,600
    -
    $23,400
    $130,200
    $153,600

    Comparable in this City

    • Value Estimation by Request
      1,608 SF

      10535 Crestwood Dr

      Office Properties & Spaces • 1,608 SF
      10535 Crestwood Dr, Manassas, VA 20109
      View Details
    • Value Estimation by Request

      10529 Crestwood Dr

      Coworking space
      10529 Crestwood Dr, Manassas, VA 20109
      View Details
    • Value Estimation by Request
      32,050 SF

      8846 Rixlew Ln

      CONDOMINIUM OFFICES • 32,050 SF
      8846 Rixlew Ln, Manassas, VA 20109-3733
      View Details
    • Value Estimation
      $170,000
      938 SF

      7542 Diplomat Dr, Unit 1

      CONDOMINIUM OFFICES • 938 SF
      7542 Diplomat Dr, Manassas, VA 20109-2676
      View Details
    • Value Estimation
      $190,000
      934 SF

      7502 Diplomat Dr, Unit 2

      CONDOMINIUM OFFICES • 934 SF
      7502 Diplomat Dr, Manassas, VA 20109-2507
      View Details
    • Value Estimation
      $155,000
      925 SF

      7505 Presidential Ln

      CONDOMINIUM OFFICES • 925 SF
      7505 Presidential Ln, Manassas, VA 20109-2628
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3.55 Acres

      Manassas Office Suite - Innovation Park

      Prime Office Space, 5,356 SF, Available Now
      11220 Assett Loop, Manassas, VA 20109
      View Details
    • $2,341,500
      9,366 SF

      Manassas Office Suite - 9366 SF

      Class-A Office Space, Stunning Views, Available August 1st
      8551 Rixlew Ln, Manassas, VA 20109
      View Details
    • Contact for pricing

      Manassas Office Suite for Lease

      1600 SF Office, Utilities Included
      7869 Coppermine Dr, Manassas, VA 20109
      View Details
    • Contact for pricing
      3.55 Acres

      Manassas Office Suite - Innovation Park

      8,040 SF Office Suite Available September 2025
      11220 Assett Loop, Manassas, VA 20109
      View Details
    • $11,985,000
      53,559 SF

      Manassas Church Net Lease

      53,559 SF, 100% Leased, NNN
      10002 Battleview Pkwy, Manassas, VA 20109
      View Details
    • $500,000
      1,608 SF

      10535 Crestwood Dr, Manassas, VA 20109

      Office Properties & Spaces • 1,608 SF
      10535 Crestwood Dr, Manassas, VA 20109
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      15,460 SF

      Manassas Executive Office Space

      Prime Manassas Office, 4,100 SF Available
      7800 Sudley Rd, Manassas, VA 20109
      View Details
    • $22 SF/Yr
      35,005 SF

      Manassas Office Space For Lease

      Prime Office Suite, 2,418 SF, Immediate Occupancy
      10601 Gaskins Way, Manassas, VA 20109
      View Details
    • $24 SF/Yr
      5,701 SF

      Manassas Executive Office Suite

      5,701 sq ft, Class A Office Space
      10440 Balls Ford Rd, Manassas, VA 20109
      View Details
    • $4,800 /Mo

      Class A Office Space Available

      Strategically located office space with easy access and amenities.
      10440 Balls Ford Rd, Manassas, VA 20109
      View Details
    • $1,995 /Mo

      Manassas Office Suite for Lease

      Office suite for lease with six offices, conference room.
      7820 Sudley Rd, Manassas, VA 20109
      View Details
    • $6,031 /Mo

      Manassas Office Space For Lease

      Office suites available in Prince William County's technology park.
      11220 Assett Loop, 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.
    7516 Diplomat Dr, Unit 2
    Manassas, VA 20109-2691
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.