Alexandria Office Condo For
For Sale
$225,000
1225 MARTHA CUSTIS DRIVE #1506, Alexandria, VA 22302
Built-out office condo in Alexandria, ideal for various uses.
Property Size596 SF
Days on Market373
Property Features for 1225 MARTHA CUSTIS DRIVE #1506
General Information
Standard status
Active
Size
596 SF
Property subtype
Apartment
Amenities
Central A/C
Convector
Deck
Building Details
Building Size
596 SF
Year Built
1980
Listed By:
Sherry Welch · License #0225241746
(609) 306-9888
Source:
Kw
Added: Sep 1, 2025
Changed: Sep 8
Last Checked: Sep 8 at 7:54AM
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 Sherry Welch
Investment Insights
Based on property information with market context.
Located in Alexandria, this office condo offers street visibility and accessibility to I-395. The property is zoned RB and is suitable for medical, professional, or general office use. The built-out space 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.
Key Highlights
- Excellent location in the heart of Alexandria with exceptional street visibility.
- Fully built‑out office condo suitable for medical, professional, or general office use.
- Easy access to I‑395, Reagan National Airport, Old Town, and major commuter routes.
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
$9,349
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
4.16%
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%
$186,980
$187.0K
Cap Rate 7%
$133,557
$133.6K
Cap Rate 9%
$103,878
$103.9K
Market Conditions
NOI Build-Up for 596 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
$16.7K $27.96/SF
− Vacancy
−$1.1K −$1.82/SF
EGI
$15.6K $26.14/SF
− OpEx
−$6.2K −$10.46/SF
NOI
$9.3K $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%
$186,980
Cap Rate 7%
$133,557
Cap Rate 9%
$103,878
Alternative Uses
Best Use
Healthcare Medical
$133.6K
$116.9K – $155.8K
NOI $9,349 @ 7.0% cap · market cap 4.16%
Second Best
Office B
$114.0K
$99.8K – $133.0K
NOI $7,980 @ 7.0% cap · market cap 3.55%
Theoretical Best
Specialty Retail
$331.0K
$289.7K – $386.2K
NOI $23,172 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,167
Businesses Nearby
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Built-out office condo in Alexandria, ideal for various uses.
Where is this office units located?
The property is located at 1225 MARTHA CUSTIS DRIVE #1506 Alexandria, VA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Excellent location in the heart of Alexandria with exceptional street visibility.; Fully built‑out office condo suitable for medical, professional, or general office use.; Easy access to I‑395, Reagan National Airport, Old Town, and major commuter routes.
