Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    9223 Elk Run Rd Catlett, VA 20119
    Back to Search
    Property profile & analytics

    9223 Elk Run Rd, Catlett, VA 20119

    View on Map
    • Warehouses
    • 16,054 SF
    • 7.68 lot acres
    For Sale
    $3,350,000
    View Listing →
    Prime Commercial Land on Route 28 For Sale
    $3,350,000
    9.50 Acres

    Prime Commercial Land on Route 28

    Almost 10-acre commercial tract on Route 28, ready for development.

    9223 ELK RUN ROAD, Catlett, VA 20119
    View Listing
    Property ID
    US87-3718955
    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

    • The Gray Market / Discount Store

    Property Details for 9223 Elk Run Rd

    Year built
    1930
    Lot size
    7.68 lot acres
    Zone code
    INDUSTRIAL PARK
    Property type
    Warehouses
    APN
    7922-82-7991
    APU
    7922827991

    Description

    7922-83-7305-000

    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
    Catlett
    County
    Fauquier
    State
    Virginia
    Longitude
    -77.639
    Latitude
    38.6556
    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
    $9,007
    $685,900
    $135,400
    $821,300
    -
    $685,900
    $135,400
    $821,300

    Comparable in this City

    • Value Estimation by Request
      6,594 SF

      9646 Bristersburg Rd

      WAREHOUSE, STORAGE
      9646 Bristersburg Rd, Catlett, VA 20119-2166
      View Details
    • Value Estimation by Request
      6,000 SF

      4165 Catlett Rd

      WAREHOUSE, STORAGE
      4165 Catlett Rd, Catlett, VA 20119
      View Details
    • Value Estimation
      $1,730,000
      19,698 SF

      3131 Gaskins Ln

      WAREHOUSE, STORAGE
      3131 Gaskins Ln, Catlett, VA 20119
      View Details
    • Value Estimation by Request
      1.00 Acre

      Catlett, VA 20119

      WAREHOUSE, STORAGE
      Catlett, VA 20119
      View Details
    • Value Estimation
      $970,000
      6,200 SF

      3328 Catlett Rd

      WAREHOUSE, STORAGE
      3328 Catlett Rd, Catlett, VA 20119-2005
      View Details
    • Value Estimation by Request
      0.15 Acres

      4194 Old Calverton Rd

      INDUSTRIAL (GENERAL)
      4194 Old Calverton Rd, Catlett, VA 20119-2189
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.61 Acres

      Catlett Road Retail Space For Lease

      High-traffic retail space, three divisible bays.
      3400 Catlett Rd, Catlett, VA 20119
      View Details
    • Contact for pricing
      1.61 Acres

      Catlett Road Retail Space Available

      High-traffic retail space, three divisible bays.
      3400 Catlett Rd, Catlett, VA 20119
      View Details
    • Contact for pricing
      1.61 Acres

      Catlett Road Retail Space Available

      High-traffic retail space, three divisible bays.
      3400 Catlett Rd, Catlett, VA 20119
      View Details
    • Contact for pricing
      1.61 Acres

      Catlett Road Retail Space Available

      High-traffic retail space, three divisible bays.
      3400 Catlett Rd, Catlett, VA 20119
      View Details
    • Contact for pricing

      Prime Commercial Land on Route 28

      Almost 10-acre commercial tract on Route 28, ready for development.
      9223 Elk Run Rd, Catlett, VA 20119
      View Details
    • $475,000
      14.27 Acres

      Wooded Land in Catlett, Virginia

      14+ acre wooded lot with pond access and no HOA.
      14 Acres Shenandoah Path, Catlett, VA 20119
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      New Commercial/Flex Building For Lease

      New construction commercial/flex building with high traffic and flexible zoning.
      3400 Catlett Rd, Catlett, VA 20119
      View Details
    • $5,305 /Mo

      New Commercial/Flex Building For Lease

      New construction with high traffic, ideal for retail or office.
      3400 Catlett Rd, Catlett, VA 20119
      View Details
    • $7,907 /Mo

      New Commercial/Flex Building on US 28

      New construction with high traffic, ideal for retail or flex.
      3400 Catlett Rd, Catlett, VA 20119
      View Details
    • $13,212 /Mo

      New Flex Building on US 28

      New commercial/flex building with divisible bays and excellent traffic flow.
      3400 Catlett Rd, Catlett, VA 20119
      View Details
    • $9,231 /Mo

      New Commercial/Flex Building For Lease

      New construction commercial/flex building with high traffic and flexible space.
      3400 Catlett Rd, Catlett, VA 20119
      View Details
    • $3,925 /Mo

      New Commercial/Flex Building For Lease

      New construction with high traffic, ideal for retail or office.
      3400 Catlett Rd, Catlett, VA 20119
      View Details
    View Listing
    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.
    9223 Elk Run Rd
    Catlett, VA 20119
    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
    9223 Elk Run Rd, Catlett, VA, 20119
    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!