Versatile Commercial Space in
For Sale
$445,000
4600 DUKE STREET 419 / 420, Alexandria, VA 22304
Combined commercial space in a high-rise residential building.
Property Size2,898 SF
Price / SF$148.33
Days on Market157
Property Features for 4600 DUKE STREET 419 / 420
General Information
Standard status
Active
Size
2,898 SF
Total Parking Spaces
300
Zoning
RC
Taxes and HOA fees
Annual Taxes
$2,620
Amenities
Accessible Elevator Installed
Central Air, Electric
Central
Gas Water Heater
Mountain(s), Water, City, Harbor, Lake, Marina, Pond, Street, Trees/Woods, Garden
Paved, Parking Lot
Building Details
Building Size
2,898 SF
Year Built
1967
Stories
1
Listing Agency:
Century 21 Redwood Realty
(571) 497-4607
Listed By:
DANNY L LEUNG · License #0225204506
(571) 497-4607
Source:
Evrealestate
Added: Mar 29
Changed: Aug 31
Last Checked: Aug 31 at 2:49PM
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 Century 21 Redwood Realty
Investment Insights
Based on property information with market context.
Located at 4600 Duke Street, Units #419 and #420 offer over 3,000 square feet of combined commercial space. The property is situated on the lobby level of a high-rise building with over 400 residential units. The space is positioned in a quieter corner of the building, offering a balance of privacy and foot traffic from residents and existing commercial tenants, including two hair salons and a State Farm office. The layout is versatile and can be reconfigured for various uses, such as professional offices, medical or wellness services, retail, café, daycare, coworking space, or boutique business concepts. The property is being sold as-is, presenting an opportunity for investors or owner-users to customize the space. 4600 Duke Street also features additional commercial spaces on upper levels, creating a live-work environment. The location offers visibility, accessibility, and a built-in customer base, suitable for entrepreneurs, service providers, and growing businesses. The bike score is 68, indicating it is bikeable. The walk score is 79, indicating it is very walkable. The transit score is 48, indicating there is some transit available.
Key Highlights
- Over 3,000 sq ft of commercial space in a high‑demand residential community.
- Located on the lobby level of a high‑rise with over 400 residential units, providing built‑in foot traffic.
- Flexible space suitable for various uses: offices, retail, medical, daycare, etc.
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
$40,168
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
9.03%
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%
$803,360
$803.4K
Cap Rate 7%
$573,829
$573.8K
Cap Rate 9%
$446,311
$446.3K
Market Conditions
NOI Build-Up for 3,000 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
$62.6K $20.88/SF
− Vacancy
−$9.1K −$3.03/SF
EGI
$53.6K $17.85/SF
− OpEx
−$13.4K −$4.46/SF
NOI
$40.2K $13.39/SF
Area
Alexandria, VA
Vacancy
14.50%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
25.00%
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%
$803,360
Cap Rate 7%
$573,829
Cap Rate 9%
$446,311
Alternative Uses
Best Use
Retail
$1.43M
$1.25M – $1.67M
NOI $100,355 @ 7.0% cap · market cap 22.55%
Second Best
Office B
$573.8K
$502.1K – $669.5K
NOI $40,168 @ 7.0% cap · market cap 9.03%
Theoretical Best
Specialty Retail
$1.67M
$1.46M – $1.94M
NOI $116,640 @ 7.0% cap · market cap 26.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,061
Businesses Nearby
Explore this area
Business Placement
Demographics for 22304, VA
49,237
Population
24,654
Households
2
Avg Household Size
37
Median Age
59%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
10,258
Density / Sq Mi
$97,629
Median Household Income
$64,929
Median Earnings
$1,934
Median Rent
$496,000
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 units - Combined commercial space in a high-rise residential building.
Where is this office units located?
The property is located at 4600 DUKE STREET 419 / 420 Alexandria, VA.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Over 3,000 sq ft of commercial space in a high‑demand residential community.; Located on the lobby level of a high‑rise with over 400 residential units, providing built‑in foot traffic.; Flexible space suitable for various uses: offices, retail, medical, daycare, etc.
