Corner Office Unit with
For Sale
$1,090,000
100-228 S Washington St, Alexandria, VA 22314
Corner positioning, dual entrances, and a kitchenette support a flexible office layout.
Property Size2,500 SF
Price / SF$436
Days on Market148
Property Features for 100-228 S Washington St
General Information
Standard status
Active
Size
2,500 SF
Total Parking Spaces
5
Site & Location
Road Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$11,000
Amenities
5 fireplaces
kitchenette
Listing Agency:
BPG Real Estate
(540) 960-1507
Listed By:
Cassidy R Burns
(540) 960-1507
Source:
Exprealty
Added: Mar 15
Changed: Aug 9
Last Checked: Aug 9 at 10:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BPG Real Estate
Investment Insights
Based on property information with market context.
This office unit offers 2,500 square feet of space arranged across numerous rooms in varying sizes. Interior features include 5 fireplaces and a kitchenette, while 5 assigned parking spaces are located behind the building. The corner-lot configuration provides two entrances and sign display opportunities along Duke and S. Washington Street.
The property is positioned two blocks from King Street in Old Town. King Street Metro is .8 miles away, with trolley access continuing toward the Waterfront, another half mile beyond the office. Mae’s Market & Cafe, which operates as Virginia’s Darling after 5:00 p.m., is located 98 ft across the street, within a shopping and dining section of King Street.
The property is positioned two blocks from King Street in Old Town. King Street Metro is .8 miles away, with trolley access continuing toward the Waterfront, another half mile beyond the office. Mae’s Market & Cafe, which operates as Virginia’s Darling after 5:00 p.m., is located 98 ft across the street, within a shopping and dining section of King Street.
Key Highlights
- 2,500 square feet of office space with rooms in varying sizes
- 5 fireplaces and a kitchenette
- 5 assigned parking spaces behind the building
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,473
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$669,460
$669.5K
Cap Rate 7%
$478,186
$478.2K
Cap Rate 9%
$371,922
$371.9K
Market Conditions
NOI Build-Up for 2,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$52.2K $20.88/SF
− Vacancy
−$7.6K −$3.03/SF
EGI
$44.6K $17.85/SF
− OpEx
−$11.2K −$4.46/SF
NOI
$33.5K $13.39/SF
Area
Alexandria, VA
Vacancy
14.50%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$669,460
Cap Rate 7%
$478,186
Cap Rate 9%
$371,922
Alternative Uses
Best Use
Office B
$478.2K
$418.4K – $557.9K
NOI $33,473 @ 7.0% cap · market cap 3.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.39M
$1.22M – $1.62M
NOI $97,200 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6,128
Businesses Nearby
Explore this area
Business Placement
Demographics for 22314, VA
35,784
Population
21,154
Households
1.7
Avg Household Size
39
Median Age
79%
College-Educated
97%
High-School Grad
3.7 sq mi
ZIP Area
9,671
Density / Sq Mi
$144,359
Median Household Income
$98,121
Median Earnings
$2,312
Median Rent
$856,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Corner positioning, dual entrances, and a kitchenette support a flexible office layout.
Where is this office units located?
The property is located at 100-228 S Washington St Alexandria, VA.
What is the asking price?
The asking price for this property is $1,090,000.
What are key features of this property?
This property features: 2,500 square feet of office space with rooms in varying sizes; 5 fireplaces and a kitchenette; 5 assigned parking spaces behind the building
