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$153.55
Days on Market202
Property Features for 4600 Duke Street 419 / 420
General Information
Standard status
Active
Size
2,898 SF
Building Details
Year Built
1967
Listing Agency:
Century 21 Redwood Realty
Listed By:
WAI LUN L LEUNG · License #0225204506
(571) 497-4607
Source:
Summitrealtors
Added: Mar 29
Changed: Oct 2
Last Checked: Oct 7 at 2:47PM
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
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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 / Yr
$38,802
Cap Rate
8.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$776,040
$776.0K
Cap Rate 7%
$554,314
$554.3K
Cap Rate 9%
$431,133
$431.1K
Market Conditions
NOI Build-Up for 2,898 SF
Gross rent
$60.5K $20.88/SF
− Vacancy
−$8.8K −$3.03/SF
EGI
$51.7K $17.85/SF
− OpEx
−$12.9K −$4.46/SF
NOI
$38.8K $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 Rate 5%
$776,040
Cap Rate 7%
$554,314
Cap Rate 9%
$431,133
Alternative Uses
Best Use
Retail
$1.38M
$1.21M – $1.62M
NOI $96,943 @ 7.0% cap · market cap 21.78%
Second Best
Office B
$554.3K
$485.0K – $646.7K
NOI $38,802 @ 7.0% cap · market cap 8.72%
Theoretical Best
Specialty Retail
$1.61M
$1.41M – $1.88M
NOI $112,674 @ 7.0% cap · market cap 25.32%
Zoning and permitted uses should be independently verified with authorities.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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.
