Historic Mixed-Use
For Sale
$4,800,000
110 S Pitt St, Alexandria, VA 22314
Restaurant space and four residential units operate within a CD-zoned downtown asset.
Property Size10,112 SF
Price / SF$474.68
Days on Market284
Property Features for 110 S Pitt St
General Information
Standard status
Active
Size
10,112 SF
Zoning
CD
Building Details
Year Built
1850
Listing Agency:
Karen Hairston - Intelligence
(703) 304-0239
Listed By:
Karen Hairston · License #0225187916
(703) 304-0239
Source:
Expcommercial
Added: Nov 20, 2025
Changed: Aug 29
Last Checked: Aug 30 at 12:58PM
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 Karen Hairston - Intelligence
Investment Insights
Based on property information with market context.
Built in 1850, this 10,112-square-foot property combines a ground-floor restaurant with residential accommodations above. The restaurant occupies 5,056 square feet, while the second level contains four multifamily units with varied occupancy arrangements: one has a long-term tenant, two are used as Airbnb rentals, and one is available.
Located at 110 S. Pitt Street in Old Town Alexandria, the property sits within the Washington, D.C. region. CD (Commercial Downtown) zoning supports a range of commercial and residential uses. The combination of restaurant operations, multifamily units, historic construction, and mixed-use zoning creates a distinct property configuration for both operating and investment considerations.
Located at 110 S. Pitt Street in Old Town Alexandria, the property sits within the Washington, D.C. region. CD (Commercial Downtown) zoning supports a range of commercial and residential uses. The combination of restaurant operations, multifamily units, historic construction, and mixed-use zoning creates a distinct property configuration for both operating and investment considerations.
Key Highlights
- 10,112‑square‑foot mixed‑use property built in 1850
- 5,056‑square‑foot ground‑floor restaurant
- Four multifamily units on the second level
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
$393,155
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
8.19%
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%
$7,863,100
$7.9M
Cap Rate 7%
$5,616,500
$5.6M
Cap Rate 9%
$4,368,389
$4.4M
Market Conditions
NOI Build-Up for 10,112 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
$546.0K $54.00/SF
− Vacancy
−$21.8K −$2.16/SF
EGI
$524.2K $51.84/SF
− OpEx
−$131.1K −$12.96/SF
NOI
$393.2K $38.88/SF
Area
Alexandria, VA
Vacancy
4.00%
Lease Rate
$54.00 /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%
$7,863,100
Cap Rate 7%
$5,616,500
Cap Rate 9%
$4,368,389
Alternative Uses
Best Use
Specialty Retail
$5.62M
$4.91M – $6.55M
NOI $393,155 @ 7.0% cap · market cap 8.19%
Second Best
Mixed Use
$2.52M
$2.20M – $2.94M
NOI $176,328 @ 7.0% cap · market cap 3.67%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,974
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant space and four residential units operate within a CD-zoned downtown asset.
Where is this mixed-use property located?
The property is located at 110 S Pitt St Alexandria, VA.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: 10,112‑square‑foot mixed‑use property built in 1850; 5,056‑square‑foot ground‑floor restaurant; Four multifamily units on the second level
