Midtown Alexandria Condo Near
For Sale
$305,000
2451 MIDTOWN AVE AVENUE #1413, Alexandria, VA 22303
Bright, updated condo with amenities and convenient access to transportation.
Property Size721 SF
Days on Market277
Property Features for 2451 MIDTOWN AVE AVENUE #1413
General Information
Standard status
Active
Size
721 SF
Property subtype
Apartment
Amenities
Forced Air
Central A/C
Building Details
Building Size
721 SF
Year Built
2007
Listing Agency:
KW Metro Center Arlington
(571) 332-2818
Listed By:
Steven Patten · License #0225083508
(571) 332-2818
Source:
Kw
Added: Nov 28, 2025
Changed: Aug 21
Last Checked: Aug 31 at 12:29AM
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 KW Metro Center Arlington
Investment Insights
Based on property information with market context.
Unit 1413 at Midtown Alexandria Station is a move-in ready, high-floor 1BR condo. The home features a kitchen with stainless steel appliances, a gas stove, counter space, stylish cabinetry, pendant lighting, and recessed lights. An in-unit washer and dryer provide convenience. The bedroom includes a closet, and the full bath has been updated. The location provides access to the Huntington Metro (Yellow Line). Old Town Alexandria, I-495, National Harbor, Amazon HQ2, and Reagan National Airport are all within minutes, and Wegmans, shops, restaurants, and everyday essentials are nearby. Midtown Alexandria Station offers amenities, including a rooftop pool, fitness center, clubroom, and 24/7 concierge.
Key Highlights
- Directly across the street from Huntington Metro (Yellow Line) for effortless commuting.
- Enjoy the rooftop pool, fitness center, clubroom, and 24/7 concierge.
- Minutes from Old Town Alexandria, I‑495, National Harbor, Amazon HQ2, and Reagan National Airport.
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
$11,052
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
3.62%
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%
$221,040
$221.0K
Cap Rate 7%
$157,886
$157.9K
Cap Rate 9%
$122,800
$122.8K
Market Conditions
NOI Build-Up for 721 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
$21.2K $29.40/SF
− Vacancy
−$1.1K −$1.53/SF
EGI
$20.1K $27.87/SF
− OpEx
−$9.0K −$12.54/SF
NOI
$11.1K $15.33/SF
Area
Alexandria, VA
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
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%
$221,040
Cap Rate 7%
$157,886
Cap Rate 9%
$122,800
Alternative Uses
Best Use
Apartment 5plus
$157.9K
$138.2K – $184.2K
NOI $11,052 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$400.5K
$350.4K – $467.2K
NOI $28,032 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,514
Businesses Nearby
Explore this area
Business Placement
Demographics for 22303, VA
16,109
Population
8,669
Households
1.9
Avg Household Size
36
Median Age
61%
College-Educated
92%
High-School Grad
1.9 sq mi
ZIP Area
8,478
Density / Sq Mi
$103,822
Median Household Income
$69,699
Median Earnings
$2,050
Median Rent
$547,300
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?
Apartment building - Bright, updated condo with amenities and convenient access to transportation.
Where is this apartment building located?
The property is located at 2451 MIDTOWN AVE AVENUE #1413 Alexandria, VA.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: Directly across the street from Huntington Metro (Yellow Line) for effortless commuting.; Enjoy the rooftop pool, fitness center, clubroom, and 24/7 concierge.; Minutes from Old Town Alexandria, I‑495, National Harbor, Amazon HQ2, and Reagan National Airport.
