Three-Level Office
New
For Sale
$7,500,000
1501 DUKE STREET, Alexandria, VA 22314
Three-level office building zoned OCH with flexible retail, office, service, or civic use options.
Property Size18,900 SF
Price / SF$396.83
Days on Market3
Property Features for 1501 DUKE STREET
General Information
Standard status
Active
Size
18,900 SF
Property subtype
Office
Zoning
OCH
Site & Location
Road Access
Yes
Public Transit
Yes
Building Details
Building Size
18,900 SF
Year Built
1986
Buildings
1
Stories
3
Listing Agency:
Corcoran McEnearney
(703) 951-7655
Listed By:
Jillian Keck Hogan · License #0225193575
(703) 951-7655
Source:
Dcmetrorealtyteam
Added: Jul 29
Changed: Jul 30
Last Checked: Jul 30 at 11:33AM
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 Corcoran McEnearney
Investment Insights
Based on property information with market context.
This three-level office building offers flexible space for retail, office, service, or civic uses. The property encompasses 18,900 SF and is zoned OCH, supporting a range of potential occupancies. Built in 1986, it provides an established structure for redevelopment or adaptive reuse within Old Town Alexandria.
The location is directly off Duke Street, with the property described as two blocks from King Street. The remarks also indicate it is within a few minutes’ walk of the Metro and AMTRAK, placing it in close proximity to Old Town’s shops, dining, waterfront attractions, and cultural landmarks.
For tenants and investors seeking a centrally located property with zoning flexibility and multi-level configuration, this presents a straightforward option to evaluate for a variety of commercial uses under the OCH designation.
The location is directly off Duke Street, with the property described as two blocks from King Street. The remarks also indicate it is within a few minutes’ walk of the Metro and AMTRAK, placing it in close proximity to Old Town’s shops, dining, waterfront attractions, and cultural landmarks.
For tenants and investors seeking a centrally located property with zoning flexibility and multi-level configuration, this presents a straightforward option to evaluate for a variety of commercial uses under the OCH designation.
Key Highlights
- 18,900 SF three‑level office building
- Zoned OCH for flexible retail, office, service, or civic uses
- Built in 1986
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $945.8k | $50.04 |
| − Vacancy | −$42.6k | −$2.25 |
| EGI | $903.2k | $47.79 |
| − OpEx | −$271.0k | −$14.34 |
| NOI | $632.2k | $33.45 |
18,900 SF · lease $50.04/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$9.03M
$7.90M – $10.54M
NOI $632,238 @ 7.0% cap · market cap 8.43%
Second Best
Office B
$3.62M
$3.16M – $4.22M
NOI $253,058 @ 7.0% cap · market cap 3.37%
Theoretical Best
Specialty Retail
$10.50M
$9.19M – $12.25M
NOI $734,832 @ 7.0% cap · market cap 9.80%
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
4,799
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 building - Three-level office building zoned OCH with flexible retail, office, service, or civic use options.
Where is this office building located?
The property is located at 1501 DUKE STREET Alexandria, VA.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: 18,900 SF three‑level office building; Zoned OCH for flexible retail, office, service, or civic uses; Built in 1986
