4002 University DrFairfax, VA 22030

Property Details for 4002 University Dr

Year built

1910

Property size (Sq ft)

2,302 SF

Zone code

COMMERCIAL RETAIL

Property type

Office properties

APN

57-4-23-00-007

APU

5742300007

Description

This exceptional mixed-use condo, situated at the highly visible corner of Main Street and University Drive in Fairfax, VA, presents a unique opportunity for businesses seeking a prominent location. Currently offered for lease at $4,600 per month or for sale at $1,100,000, this property boasts unparalleled accessibility, being just steps from Fairfax City Hall and the Courthouse. The interior comprises a spacious reception area, seven private offices, and a large kitchen/break room which could easily be converted into an eighth office. Two half-bathrooms are currently installed, with the potential to add a full bathroom to enhance functionality. The property's versatility makes it ideal for a wide range of businesses, from medical spas and accounting firms to law offices and co-working spaces. An unfinished attic offers significant potential for expansion, allowing businesses to customize the space to meet their specific needs and future growth. This prime location ensures high visibility and convenient access for clients and employees alike, making it an exceptional investment opportunity in a thriving downtown area. The property's strategic placement within the heart of Fairfax offers unparalleled exposure and accessibility, making it an ideal location for businesses seeking to establish a strong presence in the community. This is a rare chance to secure a highly desirable commercial space in a vibrant and growing city.

• CAP approach

  CAP return

  Valuation

  6%

  $510,232

  6.5%

  $470,983

  7%

  $437,341

• Comparable approach

  Method

  Valuation

  Relative Method

  $221,429

  Geo Method

  $221,429

• Alternative Use

  Use

  Valuation

  Residential

  $584,019

  Hospitality

  $534,958

  Educational

  $445,079

  Medical

  $460,386

  Retail

  $692,345

Location Insight

City

Fairfax

County

Fairfax City

State

Virginia

Latitude

38.8458

Longitude

-77.3056

CBSA code

47900

CBSA name

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

Property Tax & Assessments

FAQs

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