Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    450 S Pickett St Alexandria, VA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime retail destination near Van Dorn Metro, Alexandria, VA.

    Type:RETAIL
    Property size:
    1,487 SF
    Lot size:
    2.67 Acres
    Added:
    Sep 7, 2023
    Days on Market:
    967
    Last Refresh:
    Apr 5 at 10:15 pm

    Property Features for 450 S Pickett St

    General Information

    Standard status
    Active
    Size
    1,487 SF
    Lot size
    2.67 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 450 S Pickett St Contact us

    We can help!

    Listing Contact
    Matt Skalet
    Matt Skalet

    Listing agent Matt Skalet

    Listing office KLNB - Washington, D.C.

    Listing date Sep 7, 2023

    Source Moodyscre

    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 KLNB - Washington, D.C.

    Overview

    Retail & Restaurant Space Available

    This property at Cameron Park offers over 20,000 square feet of retail and restaurant space, accompanied by ample retail parking. It is part of a modern development that includes 302 residential units located above the retail space. The location is within walking distance of the Van Dorn Metro blue line, which provides service to Amazon Headquarters in Crystal City. The available space is 1487 square feet and is positioned to be a prime retail destination for the Landmark/Van Dorn Metro market.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Middleburg Construction Inc Construction Company Phoenix Renovations Construction Company

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Van Dorn Plaza — 249 S Van Dorn St, Alexandria, VA 22304
    • West End Village — 300 S Pickett St, Alexandria, VA 22304
    • Van Dorn Station Shopping Center — 504 S Van Dorn St, Alexandria, VA 22304
    • farrington place — 6025 Farrington Ave, Alexandria, VA 22304
    • Pickett Street Plaza — 660 S Pickett St, Alexandria, VA 22304

    Location Insight

    • Map
    • Local Demand
    City
    Alexandria
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.1286
    Latitude
    38.8073

    Nearby Similar for Lease

    • $2,600/Mo

      Old Town Alexandria Retail Space

      Prime commercial space in Old Town Alexandria, high-traffic location.
      623 S WASHINGTON Street, ALEXANDRIA, VA 22314
      View Details
    • $1,300/Mo

      Move-in Ready Alexandria Office Condo

      Updated office condo with easy access and included utilities.
      4810 BEAUREGARD Street, ALEXANDRIA, VA 22312
      View Details
    • $2,804/Mo

      ALEXANDRIA Retail/Salon Space For Lease

      Ground floor space suited for salon or retail in ALEXANDRIA.
      1900 ELKIN Street, ALEXANDRIA, VA 22308
      View Details
    • $3,500/Mo

      Furnished Alexandria Office Suite

      Move-in ready office suite in Old Town Alexandria.
      225 N WASHINGTON Street, ALEXANDRIA, VA 22314
      View Details
    • $2,400/Mo

      ALEXANDRIA Retail Space For Rent

      Prime commercial condo, currently a nail salon and massage therapy business.
      1701 BELLE VIEW Boulevard, ALEXANDRIA, VA 22307
      View Details
    • $400/Mo

      Shared Office Space Available

      Shared office space with utilities included in Alexandria, Virginia.
      801 N PITT Street, ALEXANDRIA, VA 22314
      View Details
    • $5 SF/Yr

      LRB Business Centers Office Suites

      Private office in shared suite with receptionist and high-speed internet.
      2121 Eisenhower Ave, Alexandria, VA 22314
      View Details
    • $1,500/Mo

      Furnished Office Suite in Alexandria

      Move-in ready office suite in Old Town Alexandria.
      225 N WASHINGTON St SUITE 3-A, Alexandria, VA 22314
      View Details
    • $1,500/Mo

      Professional Office Suite For Rent

      200 SF office suite in Old Town Alexandria.
      301 FRANKLIN St, Alexandria, VA 22314
      View Details
    • $1,923/Mo

      Office Space For Lease

      Office space available for lease in Alexandria, Virginia.
      5122 LEESBURG Pike, ALEXANDRIA, VA 22302
      View Details
    • $4,500/Mo

      Flexible Retail Space in Alexandria

      2,750 SF retail space with flexible floor plan.
      218 W GLEBE Rd, Alexandria, VA 22305
      View Details
    • $36 SF/Yr

      LEED-Certified Office Space in Alexandria

      Class-A office space with amenities in a park-like setting.
      6363 Walker Lane, Alexandria, Virginia 22310
      View Details

    FAQs

    What type of property is this?
    Shopping center - Prime retail destination near Van Dorn Metro, Alexandria, VA.
    Where is this shopping center located?
    The property is located at 450 S Pickett St Alexandria, VA.
    What are key features of this property?
    This property features: Prime retail destination for Landmark/Van Dorn Metro market.; Walking distance to Van Dorn Metro blue line servicing Amazon Headquarters in Crystal City.; Modern development with 302 residential units above retail space.
    (202) 375-7500 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Matt Skalet
    Matt Skalet
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!