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Property profile & analytics
OFF-MARKET
Estimated value
$121,145,000
Garden apartment buildings
Herndon, VA 20171
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-1912988
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Total area
318,293 SF
Lot
4.59 ac (199,901 SF)
Zoning code
PDC(PLANNED DEV COMMERCIA
APN
015-4-05-0003-A
UPID
US87-1912988
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$73.30M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$121.15M
Owner & transaction history
Icon Property Owner LLC · 3 yrs held
Icon Property Owner LLC
since 2022
Last sale
$134.8M
6 recorded transactions
Zoning & alternative use
PDC(PLANNED DEV COMMERCIA · Herndon, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Herndon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Herndon submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$141,650,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$79,410,000
6.5%
$73,300,000
7%
$68,065,000
Blend value · Realmo final
$121.15M
Range $109.03M – $133.26M · ±10% · vs last sale $134.82M (Aug 1 2022)
Last sale anchor
$134.82M
Aug 1 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$381 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$981,071
Tax year 2024
Assessed value
$74,408,100
Assessed 2024
Previous assessed
$70,480,580
+5.6% YoY
Effective rate
1.32%
On assessed value
Assessed land
$11,657,520
Assessed improvement
$62,750,580
Land market value
$11,657,520
Improvement market value
$62,750,580
Total market value
$74,408,100
Applied tax rate
200.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Heating
NONE
Stories
4
Total area
318,293 SF
Lot
4.59 ac (199,901 SF)
Zoning code
PDC(PLANNED DEV COMMERCIA
APN
015-4-05-0003-A
UPID
US87-1912988
Jurisdiction
FAIRFAX
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
PDC(PLANNED DEV COMMERCIA · Herndon, VA
Zoning PDC(PLANNED DEV COMMERCIA · permitted uses
PDC(PLANNED DEV COMMERCIA · Herndon, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Herndon. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Heating
NONE
Stories
4
Lot
4.59 ac
Current owner
From public records · entity-resolved
Icon Property Owner LLC
Entity
Free & Clear · 3 yrs held
Mailing address
1050 17TH ST NW STE #300, WASHINGTON, DC 20036-5538
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 1, 2022
—
Icon Property Owner LLC
Icon Park Center LLC
Intrafamily Transfer
related
—
Apr 14, 2015
$134,815,000
Icon Lincoln LLC|icon Park Center LLC
Jlb Dulles LLC
Grant Deed
$93,944,000 · Grandbridge R/e Cap
Jun 8, 2011
—
Jlb Dulles LLC
—
Deed Of Trust
related
$69,500,000 · Wells Fargo Bank
Oct 14, 2010
$21,250,000
Jlb Dulles LLC
Dulles Station Herndon LLC
Grant Deed
related
$12,750,000 · Wells Fargo Bank
Sep 9, 2009
$7,969,500
Dulles Station Herndon LLC
Adams Richard V W III
Trustees Deed
—
—
—
Jefferson At Dulles Stn 3a
—
Deed Of Trust
related
$121,900 · Wachovia Bank NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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