9865 Fairfax BlvdFairfax, VA 22030

Property Details for 9865 Fairfax Blvd

Year built

1953

Lot size

1.15 AC

Property size (Sq ft)

18,048 SF

Zone code

COMMERCIAL RETAIL

Property type

Hotels

Property subtype

Motels

APN

48-3-12-00-003

APU

4831200003

Description

This exceptional 1.75-acre retail property, located at 9865 Fairfax Boulevard in Fairfax, Virginia, presents a unique investment opportunity. The site boasts a prime location at the intersection of Highway 50 and 29, ensuring high visibility and accessibility. The existing building comprises 18,000 square feet of retail space. However, the true potential lies in the approved plans for a substantial 104,000 square foot assisted living/memory care facility with 111 rooms. This presents a lucrative opportunity for immediate income generation or redevelopment. The property's strategic location offers unparalleled convenience, with proximity to numerous restaurants and shops, George Mason University, and the Vienna Metro. Easy access to major transportation arteries, including I-66, I-495, and Fair Oaks Mall, further enhances its appeal. The three parcels comprising this property provide ample space for future expansion or alternative development projects, such as the potential construction of hundreds of apartments or additional senior housing. This is a rare chance to acquire a significant commercial property in a thriving Fairfax location with substantial development potential. The asking price is $8,500,000.

• CAP approach

  CAP return

  Valuation

  6%

  $4,543,660

  6.5%

  $4,194,148

  7%

  $3,894,566

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,079,687

  Geo Method

  $4,079,687

• Alternative Use

  Use

  Valuation

  Residential

  $4,578,790

  Hospitality

  $4,194,148

  Educational

  $3,489,482

  Medical

  $3,609,490

  Retail

  $5,428,082

Location Insight

City

Fairfax

County

Fairfax City

State

Virginia

Latitude

38.863

Longitude

-77.285

CBSA code

47900

CBSA name

WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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