Fairfax Office for Sale - Fairfax City
Legat Commercial Real Estate, LLC, as the exclusive representative for 10201 Fairfax Blvd, LLC, is pleased to present the opportunity to acquire Gatewood Plaza, located at 10201 Fairfax Boulevard, Fairfax City, Virginia. The 93% leased offering consists of an 88,995 SF, five-story Class A office building situated on a 3.0-acre site, zoned C-2 in Fairfax City. The property offers a stable, diversified rent roll from professional services, government contractors, medical users, and tech tenants, with strong in-place income and significant redevelopment potential to a significantly larger mixed-use project. The property is being offered at a purchase price of $15,940,937, reflecting a 10.00% cap rate on the current Net Operating Income of $1,594,093. The Seller will master lease the 7% of vacant suites to deliver the Building 100% leased. In addition to the excellent cap rate, this investment opportunity will have the added bonus of having a purchaser take advantage of the redevelopment potential of this office property to a mixed-use project with increased size (higher FAR) and a potential for retail and multi-family. Strategically located on Route 50 (Fairfax Blvd), the property provides excellent accessibility to I-66 and Route 123, and is walkable to retail, hotel, dining, and banking amenities. With Fairfax’s high average household income and a healthy employment base, this asset benefits from strong market fundamentals. This offering presents investors with a rare opportunity to acquire a stabilized, income producing, low-maintenance asset in a prime Northern Virginia submarket with strong tenancy, professional management, and long-term upside redevelopment potential.
