Entity Owned 
For Lease
1 / 7
$3,900/Mo
950 Herndon Pkwy, Herndon, VA 20170
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Property summary
AI-generated overview
This four-story, Class B office building at 950 Herndon Parkway, Herndon, VA 20170, offers 92,663 square feet of space, with suites ranging from 1,733 to 11,470 contiguous square feet. Currently, 23,815 square feet are vacant. Built in 1987 and renovated in 2015, the property features a 50-foot ceiling height, two hydraulic elevators, and ample parking (3.3 spaces per 1,000 square feet). The building boasts a Class A lobby and convenient on-site PNC Bank with a drive-thru. Located at the prominent corner of Herndon Parkway and Elden Street, it offers easy access to Dulles, Herndon, and Reston. The 4.58-acre lot is zoned CO and provides heavy power capabilities. This multi-tenant building presents a unique opportunity for businesses seeking executive or medical office space in a highly desirable Herndon location. Spec suites and plug-and-play options are available.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1987
Construction
STEEL FRAME
Total area
93,750 SF
Lot
3.73 ac (162,550 SF)
Zoning code
CO(COMMERCIAL OFFICE)
APN
016-1-02-0018-A
UPID
US87-0114869
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
(Bike/Boat/Book/etc) Store Corporate Office
-
Tech Support Center IT Consulting Firm
-
Association / Organization Corporate Office
-
Corporate Office
-
Loan Service Bank
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$29.13M
Comparable Approach
Comparable
$21.57M
Blend (final)
Blend
$21.36M
Owner & transaction history
since 2005
3 recorded transactions
Zoning & alternative use
CO(COMMERCIAL OFFICE) · Herndon, VA
Top alternative use upside
Neighborhood: shopping center
$34.6M
+31.5%
Industrial (general)
$31.9M
+21.3%
Auto repair, garage
$31.3M
+19.1%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 10 comparables with addresses
5 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$21.36M
Value range
$19.22M – $23.50M
±10% around blend
Estimated value / SF
$228 / SF
Confidence
High
10 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
100
Income certainty
100
$19.22M
blend $21.36M
$23.50M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
93,750 SF
Lot area
3.73 ac
Year built
1987
Stories
4
APN
016-1-02-0018-A
Zoning
CO(COMMERCIAL OFFICE)
Assessed value
$10,748,200
Annual tax
$165,898
3
Income approach: direct capitalization
Partial preview
Income approach indication
$29.13M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$31.55M
@ 6.5% CAP return
$29.13M
@ 7% CAP return
$27.04M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$165,898
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$19.22M
Weighted, 10 comps · high confidence
Evidence
10 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
10.3 mi away · 80,256 SF
10.5 mi away · 88,798 SF
15.6 mi away · 93,000 SF
15.7 mi away · 114,606 SF
17.3 mi away · 82,728 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$21.36M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 66 sales
$280
-19%
Submarket 170 sales
$290
-21%
County 837 sales
$289
-21%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $228/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Neighborhood: Shopping Center
Gross theoretical uplift
+32%
vs current-use indication
Industrial (general)
Auto Repair, Garage
Warehouse, Storage
Office Building · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 10 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$3.10M
Move the market yield to see immediate price impact.
Value / SF
$33
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$195k
$3.91M
$2.79M
$2.17M
$217k
$4.34M
$3.10M
$2.41M
$239k
$4.78M
$3.41M
$2.65M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
10 found
High confidence · county-verified
Closest comparable
$21.50M
3.8 mi · Jan 2026 · $267/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$165,898
Tax year 2024
Assessed value
$10,748,200
Assessed 2024
Previous assessed
$12,623,800
-14.9% YoY
Effective rate
1.54%
On assessed value
Assessed land
$1,875,000
Assessed improvement
$8,873,200
Land market value
$1,875,000
Improvement market value
$8,873,200
Total market value
$10,748,200
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1987
Construction
STEEL FRAME
Heating
HEAT PUMP
Cooling
YES
Stories
4
Total area
93,750 SF
Lot
3.73 ac (162,550 SF)
Zoning code
CO(COMMERCIAL OFFICE)
APN
016-1-02-0018-A
UPID
US87-0114869
Jurisdiction
FAIRFAX
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
CO(COMMERCIAL OFFICE) · Herndon, VAZoning CO(COMMERCIAL OFFICE) · permitted uses
CO(COMMERCIAL OFFICE) · Herndon, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1987
Construction
STEEL FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
4
Lot
3.73 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
CO(COMMERCIAL OFFICE)
Jurisdiction
Herndon, VA
Recorded code
CO(COMMERCIAL OFFICE)
Ownership Intelligence
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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