10505 Judicial Dr - Office FOR SALE


Fairfax, VA 22030
$8,300,000 USD
703-677-0101
10505 Judicial Dr, Fairfax, VA for Sale
$8,300,000 USD
Office - FOR SALE
1/20
null | 7.9% Cap Rate

10505 Judicial Dr
Fairfax, VA 22030


HIGHLIGHTS

  • This property is 34,356 total SF with 74% leased.
  • Most remaining suites are in near spec suite condition. Building features include tenant lounge.
  • Located just off of the I 66/Route 50 interchange adjacent to the Fairfax County Courthouse.
  • Excellent long term tenant, most of which are attorneys and title companies.
  • Extraordinary demographics with 2 59, 000 people residing within 5 miles with a median income in excess of $138 ,000.
  • Excellent proximity to private, government and medical demand.

OVERVIEW

Legat Commercial Real Estate, as the exclusive representative for the owner, is pleased to present for sale the 100% fee simple interest in Judicial Center Office Building, located at 10505 Judicial Drive in Fairfax, Virginia , a 34,356 SF office building , situated on .98 acres of land the “Property”). This value add opportunity will trade substantially below replacement cost, providing a buyer a strong in place yield with upside. Currently the Property is approximately 74 % leased to 9 tenants with an average lease term of 4 years and an average in place rent of 2 6 PSF. In addition to having secure in place cash flow, this opportunity provides an owner user to take advantage of the in place tenancy and significantly offset the cost of occupancy. There is additional upside through the lease up of the surplus vacant suites and future rent growth. Furthermore, future capital needs are limited due to a long history of proactive maintenance and the near turn key condition of the majority of the vacant suites. The building is located at the geographic center of Fairfax County, Virginia near the crossroads of I 66 and Route 50 Northern Virginia’s primary east west highways. It is located adjacent to the Fairfax County Courthouse and is in close proximity to the Fairfax County Governmental Center George Mason University and Fairfax City Hal as well as the 1,565,000 SF Fair Oaks Regional Mall, Inova Fair Oaks Hospital and amidst a mature 14 million SF office submarket (CoStar office submarkets: Fairfax Center, Oakton, and Fairfax City). Judicial Office Building offers investors the opportunity to invest in a stable, cash flowing, readily financeable property acquired well below replacement value. Judicial Center is well positioned to take advantage of rising rents anticipated from the tightening Northern Virginia office market during a prolonged economic recovery resulting from the end of the Covid 19 pandemic.

FOR SALE DETAILS

PRICE

$8,300,000 USD

PRICE/SF

$160 USD /SF

CAP RATE

7.9%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Jones Street Office Bldg

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

B

YEAR BUILT

1980

SPRINKLERS

-

PARKING SPACES

114

LAND DETAILS

LAND ACRES

0.99 AC

LAND SF

43,124 SF

ZONING

C

APN/PARCEL ID

57-4-02-031

ASK ABOUT THIS PROPERTY

James LegatLegat Commercial Real Estate LLCMore Info
703-677-0101

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James LegatLegat Commercial Real Estate LLCMore Info
703-677-0101

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.