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

    8240 Leesburg Pike Vienna, VA 22182-2612

    • Medical offices
    • 17,000 SF
    • 0.56 lot acres
    OFF-MARKET
    Last Sale
    Mar 10, 2020
    $8,150,000
    Value Estimations
    $7,930,000
    Show details
    Cap Rate Potential
    4%
    Medical offices
    Location Intelligence
    Property ID
    US87-3876670
    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

    • Tysons Corner Appliance Repair / Home Appliance Store
    • Tysons Emergency / Hospital
    • ATM / Atm

    Property Details for 8240 Leesburg Pike

    Year built
    1986
    Construction
    STEEL FRAME
    Lot size
    0.56 lot acres
    Property size
    17,000 SF
    Zone code
    PDC(PLANNED DEV COMMERCIA
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    029-3-01-0080
    APU
    293010080

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,755,000
      ML approach
      $7,665,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,165,000
      6.5%
      $4,765,000
      7%
      $4,425,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Vienna
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.2298
    Latitude
    38.9184
    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
    $96,372
    $2,007,100
    $4,762,940
    $6,770,040
    -
    $2,007,100
    $4,762,940
    $6,770,040

    Comparable in this City

    • Value Estimation
      $665,000
      28,675 SF

      8206 Leesburg Pike

      MEDICAL BUILDING • 28,675 SF
      8206 Leesburg Pike, Vienna, VA 22182-2614
      View Details
    • Value Estimation
      $2,060,000
      71,362 SF

      9011 Leesburg Pike

      HOSPITAL - PRIVATE • 71,362 SF
      9011 Leesburg Pike, Vienna, VA 22182-1722
      View Details
    • Value Estimation by Request
      2.62 Acres

      1950 Old Gallows Rd

      Office Properties & Spaces • 2.62 Acres
      1950 Old Gallows Rd, Vienna, VA 22182
      View Details
    • Value Estimation by Request

      8230 Boone Blvd Ste, Unit 420

      CONDOMINIUM OFFICES
      8230 Boone Blvd Ste, Vienna, VA 22182-2646
      View Details
    • Value Estimation by Request

      8214 Old Courthouse Rd Ste C

      CONDOMINIUM OFFICES
      8214 Old Courthouse Rd Ste C, Vienna, VA 22182-3888
      View Details
    • Value Estimation
      $4,790,000
      32,435 SF

      8233 Old Courthouse Rd

      OFFICE BUILDING • 32,435 SF
      8233 Old Courthouse Rd, Vienna, VA 22182-3816
      View Details

    Similar Nearby for Sale

    • $3,455,100
      6,980 SF

      Tysons Corner Medical Office Condo

      Prime Medical Office, Fully Equipped
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    • $499,990

      Modern Office Condo For Sale

      Upgraded office condo in Centennial Plaza, minutes from Tysons.
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    • $1,549,000

      Tysons Corner Office Condo

      Spacious 5,146 SF office condo in the heart of Tysons.
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    • $450,000
      1,504 SF

      Second Floor Office Condominium

      End unit office condo with multiple offices and restrooms.
      8296-8298 Old Courthouse Rd, Vienna, VA 22182
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    • Contact for pricing
      1.80 Acres

      Vienna Office Space: Metro Accessible

      Flexible Office Suites, Abundant Parking
      1608 Spring Hill Rd, Vienna, VA 22182
      View Details
    • Contact for pricing
      0.05 Acres

      Vienna Office Space - Gallows Road

      Prime Vienna Office, Abundant Parking
      1952 Gallows Rd, Vienna, VA 22182
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      1 SF

      Tysons Medical Office Building for Sale

      Prime Vienna Medical Office Space Available
      8206 Leesburg Pike, Vienna, VA 22182
      View Details
    • Contact for pricing
      6,980 SF

      Tysons Corner Medical Office Space

      Prime Medical Office Suite, 4,000 SF Available
      8230 Boone Blvd, Tysons, VA 22182
      View Details
    • $17 SF/Yr
      158,272 SF

      Tysons Corner Office Space

      Premium Office Suites, Prime Location
      8609 Westwood Ctr Dr, Tysons, VA 22182
      View Details
    • $35 SF/Yr
      174,164 SF

      Vienna Office Building: The Alley

      Class A Office Space, Modern Amenities
      1945 Old Gallows Rd, Vienna, VA 22182
      View Details
    • $2,600 /Mo

      Tysons Corner Versatile Office Space

      Move-in ready office condo in prime Tysons location.
      8294 Old Courthouse Rd, Vienna, VA 22182
      View Details
    • $2,600 /Mo

      Versatile Office Space in Tysons

      Move-in ready office condo in prime Tysons location.
      8294 -D Old Courthouse Rd, Vienna, VA 22182
      View Details
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    8240 Leesburg Pike
    Vienna, VA 22182-2612
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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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