3.2% Cap Rate Franconia Road Property Sells for $6.25 Million

ALEXANDRIA, Va., June 16, 2026 /PRNewswire/ -- Boosalis Properties announced the sale of a retail property located on Franconia Road in Fairfax County for $6.25 million.

The property consisted of approximately 3.1 acres, 7,796 square feet of retail space, and excess land with future development potential. The property consisted of three parcels, creating a unique investment opportunity that combined existing income with long-term redevelopment upside.

George Boosalis, Principal Broker of Boosalis Properties, represented the seller in the transaction.

"This was a challenging property to underwrite because investors had to evaluate both the existing retail income and the future development potential," said Boosalis. "It was important that our marketing package clearly communicated the property's long-term value beyond the current cash flow."

The property ultimately sold at a 3.2% capitalization rate, a figure rarely achieved in today's higher-interest-rate environment.

According to Boosalis, the transaction required identifying a buyer who could understand both the current income stream and the future redevelopment opportunity.

"We generated multiple aggressive all-cash offers through the Boosalis Properties network even before we were able to take the property to the traditional online marketing platforms," Boosalis said. "In today's market, finding the right buyer is often more important than simply finding a buyer. This transaction required an investor who could see the bigger picture."

Melanie Nobriga of Boosalis Properties added that the property's combination of existing tenancy and future expansion potential made it stand out from more traditional investment opportunities.

"The buyer understood the long-term opportunity and had the vision necessary to capitalize on the property's future potential," said Nobriga. "It was a unique asset with both immediate income and long-term growth potential."

The transaction highlights continued investor demand for well-located commercial real estate opportunities throughout Northern Virginia, particularly assets that offer both immediate income and future development flexibility.

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SOURCE Boosalis Properties