Alexandria Office Condo For
For Sale
$450,000
1225 Martha Custis Dr, Alexandria, VA 22302
Office condo in Alexandria, ideal for medical or professional use.
Property Size1,666 SF
Price / SF$270.11
Days on Market392
Property Features for 1225 Martha Custis Dr
General Information
Standard status
Active
Size
1,666 SF
Building Details
Year Built
1980
Listing Agency:
Tartan Properties, Inc.
Listed By:
Mike B Porterfield, Mike B Porterfield · License #0225044112
(703) 836-6555
Source:
Riverfoxrealty
Added: Sep 1, 2025
Changed: Sep 25
Last Checked: Sep 26 at 9:35AM
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 Tartan Properties, Inc.
Investment Insights
Based on property information with market context.
Located in Alexandria, this office condo offers street visibility and accessibility to I-395. Zoned RB, the fully built-out space is suitable for medical, professional, or general office use. The layout includes three private offices, a large conference room, a reception area, a copy room, ample storage, and two restrooms. The property is situated near Old Town, Reagan National Airport, and major commuter routes, providing access to dining, shops, and cultural attractions. This location is suitable for businesses seeking visibility and convenience.
Key Highlights
- Prime Location in Alexandria with Exceptional Street Visibility
- Easy Access to I‑395 and Major Commuter Routes
- Fully Built‑Out Office Condo Ideal for Medical, Professional, or General Office Use
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
$26,132
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
5.81%
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%
$522,640
$522.6K
Cap Rate 7%
$373,314
$373.3K
Cap Rate 9%
$290,356
$290.4K
Market Conditions
NOI Build-Up for 1,666 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
$46.6K $27.96/SF
− Vacancy
−$3.0K −$1.82/SF
EGI
$43.6K $26.14/SF
− OpEx
−$17.4K −$10.46/SF
NOI
$26.1K $15.69/SF
Area
Alexandria, VA
Vacancy
6.50%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
40.00%
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%
$522,640
Cap Rate 7%
$373,314
Cap Rate 9%
$290,356
Alternative Uses
Best Use
Healthcare Medical
$373.3K
$326.7K – $435.5K
NOI $26,132 @ 7.0% cap · market cap 5.81%
Second Best
Office B
$318.7K
$278.8K – $371.8K
NOI $22,307 @ 7.0% cap · market cap 4.96%
Theoretical Best
Specialty Retail
$925.3K
$809.7K – $1.08M
NOI $64,774 @ 7.0% cap · market cap 14.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,167
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 22302, VA
17,972
Population
9,660
Households
1.9
Avg Household Size
38
Median Age
70%
College-Educated
93%
High-School Grad
2.3 sq mi
ZIP Area
7,814
Density / Sq Mi
$127,037
Median Household Income
$83,782
Median Earnings
$2,039
Median Rent
$630,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Office condo in Alexandria, ideal for medical or professional use.
Where is this medical office space located?
The property is located at 1225 Martha Custis Dr Alexandria, VA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Prime Location in Alexandria with Exceptional Street Visibility; Easy Access to I‑395 and Major Commuter Routes; Fully Built‑Out Office Condo Ideal for Medical, Professional, or General Office Use
