Three-Level Mixed-Use
New
For Sale
$7,500,000
1501 Duke St, Alexandria, VA 22314
OCH-zoned commercial space accommodating retail, office, service, or civic uses in a walkable urban setting.
Property Size18,900 SF
Price / SF$396.83
Days on Market3
Property Features for 1501 Duke St
General Information
Standard status
Active
Size
18,900 SF
Zoning
OCH
Additional Details
Public Transit
Yes
Building Details
Year Built
1986
Stories
3
Listing Agency:
Corcoran McEnearney
(703) 549-9292
Listed By:
Jillian Keck Hogan · License #0225193575
Source:
Summitrealtors
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 28 at 1:08PM
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 mixed-use property contains 18,900 square feet and was built in 1986. The space carries OCH zoning and is positioned for a combination of retail, office, service, or civic uses. Its configuration provides a substantial commercial footprint for an operator seeking a presence in an established urban environment.
The property is located at 1501 Duke St in Alexandria, Virginia, immediately off Duke Street and two blocks from King Street. Metro and AMTRAK are within a few minutes on foot, while shops, dining, waterfront attractions, and cultural landmarks are also nearby. The Old Town setting places the property within an active pedestrian-oriented area with multiple surrounding destinations.
The property is located at 1501 Duke St in Alexandria, Virginia, immediately off Duke Street and two blocks from King Street. Metro and AMTRAK are within a few minutes on foot, while shops, dining, waterfront attractions, and cultural landmarks are also nearby. The Old Town setting places the property within an active pedestrian-oriented area with multiple surrounding destinations.
Key Highlights
- 18,900‑square‑foot mixed‑use property
- Three‑level property built in 1986
- OCH zoning with retail, office, service, or civic use potential
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
$632,238
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
8.43%
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%
$12,644,760
$12.6M
Cap Rate 7%
$9,031,971
$9.0M
Cap Rate 9%
$7,024,867
$7.0M
Market Conditions
NOI Build-Up for 18,900 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
$945.8K $50.04/SF
− Vacancy
−$42.6K −$2.25/SF
EGI
$903.2K $47.79/SF
− OpEx
−$271.0K −$14.34/SF
NOI
$632.2K $33.45/SF
Area
Alexandria, VA
Vacancy
4.50%
Lease Rate
$50.04 /SF/Yr
Expense Ratio
30.00%
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%
$12,644,760
Cap Rate 7%
$9,031,971
Cap Rate 9%
$7,024,867
Alternative Uses
Best Use
Retail
$9.03M
$7.90M – $10.54M
NOI $632,238 @ 7.0% cap · market cap 8.43%
Second Best
Mixed Use
$4.71M
$4.12M – $5.49M
NOI $329,569 @ 7.0% cap · market cap 4.39%
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
Property Profile
Current Use
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?
Mixed-use property - OCH-zoned commercial space accommodating retail, office, service, or civic uses in a walkable urban setting.
Where is this mixed-use property located?
The property is located at 1501 Duke St 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‑square‑foot mixed‑use property; Three‑level property built in 1986; OCH zoning with retail, office, service, or civic use potential
