107 Park PlFalls Church, VA 22046

Property Details for 107 Park Pl

Year built

1980

Construction

TYPE NOT SPECIFIED

Lot size

0.38 AC

Property size (Sq ft)

7,200 SF

Zone code

B-2 CENTRAL.BUSINESS

Property type

Office properties

Property subtype

Other office properties

APN

53-104-020

APU

53104020

Description

This exceptional free-standing, all-brick commercial building at 107 Park Place in Falls Church, VA, presents a unique value-add investment opportunity. Spanning 7,200 square feet across three stories, this property offers a prime location in the heart of Falls Church, directly across from a new Whole Foods and a 300-unit apartment complex. The building's strategic location provides easy access to major transportation arteries, including Route 29, Route 7, I-66, VA-267, and the East Falls Church Metro Station. Its B-2 zoning allows for a variety of retail or office uses. Built in 1980 and renovated in 2015, the building features a new roof and HVAC systems, and each floor is separately metered for electricity. The 0.38-acre lot includes a private parking lot, with additional public parking readily available across the street. The asking price is $2,975,000 ($413.19/SF). Nearby amenities include the State Theater and Clare & Don's Beach Shack, along with numerous shops and restaurants. This property offers significant potential for an owner-user or investor seeking a strong foothold in a thriving, high-demand area. The property's APN is 53-104-020. The building's modified lease type provides flexibility for future tenants.

• CAP approach

  CAP return

  Valuation

  6%

  $1,590,356

  6.5%

  $1,468,021

  7%

  $1,363,162

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,104,730

  Geo Method

  $1,202,472

• Alternative Use

  Use

  Valuation

  Residential

  $1,820,346

  Hospitality

  $1,667,427

  Educational

  $1,387,280

  Medical

  $1,434,991

  Retail

  $2,157,991

Location Insight

City

Falls Church

County

Falls Church City

State

Virginia

Latitude

38.8827

Longitude

-77.1692

CBSA code

47900

CBSA name

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

Property Tax & Assessments

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