Ground-Floor Office
New
For Sale
$265,000
4600 DUKE STREET, Alexandria, VA 22304
Flexible suite with private rooms, reception area, exterior entry, elevator access, and central air.
Property Size1,140 SF
Price / SF$232.46
Days on Market7
Property Features for 4600 DUKE STREET
General Information
Standard status
Active
Size
1,140 SF
Elevators
Yes
Property subtype
Office
Property Condition
Severity
Repairs Needed
Evidence
currently dated and ready for renovation
Additional Details
Floor
Ground Floor
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$2,745
Amenities
Central Air
3
Instant Hot Water
Built Up, Concrete
Parking.
Public, Lot.
City, Trees/Woods
Other, Urban, None.
Building Details
Year Built
1967
Stories
1
Listing Agency:
Century 21 Redwood Realty
(571) 497-4607
Listed By:
WAI LUN LEUNG · License #0225204506
(571) 497-4607
Source:
Xome
Added: Aug 16
Changed: Aug 22
Last Checked: Aug 22 at 4:55AM
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.
This ground-floor commercial condominium at 4600 Duke Street includes three private rooms and a reception area within a flexible office layout. The suite is dated and positioned for renovation, allowing the next owner to rework the interior for its intended business use. Central air and instant hot water are included, while a private exterior entrance from the parking lot provides direct access for visitors. Elevator access supports accessibility within the mixed-use building.
The property is part of an established building with more than 400 residential units and on-site parking. Its Duke Street address places the suite near major roads, shopping, dining, and Alexandria communities. Potential uses identified for the space include professional office, retail, salon, personal services, daycare, and other approved commercial uses, subject to applicable zoning and condominium restrictions.
The property is part of an established building with more than 400 residential units and on-site parking. Its Duke Street address places the suite near major roads, shopping, dining, and Alexandria communities. Potential uses identified for the space include professional office, retail, salon, personal services, daycare, and other approved commercial uses, subject to applicable zoning and condominium restrictions.
Key Highlights
- Ground‑floor commercial condo at 4600 Duke Street, Alexandria, VA 22304
- Three private rooms plus a reception area
- Private exterior entrance from the parking lot
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
$15,264
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
5.76%
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%
$305,280
$305.3K
Cap Rate 7%
$218,057
$218.1K
Cap Rate 9%
$169,600
$169.6K
Market Conditions
NOI Build-Up for 1,140 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
$23.8K $20.88/SF
− Vacancy
−$3.5K −$3.03/SF
EGI
$20.4K $17.85/SF
− OpEx
−$5.1K −$4.46/SF
NOI
$15.3K $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%
$305,280
Cap Rate 7%
$218,057
Cap Rate 9%
$169,600
Alternative Uses
Best Use
Office B
$218.1K
$190.8K – $254.4K
NOI $15,264 @ 7.0% cap · market cap 5.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$633.2K
$554.0K – $738.7K
NOI $44,323 @ 7.0% cap · market cap 16.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
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 - Flexible suite with private rooms, reception area, exterior entry, elevator access, and central air.
Where is this office units located?
The property is located at 4600 DUKE STREET Alexandria, VA.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Ground‑floor commercial condo at 4600 Duke Street, Alexandria, VA 22304; Three private rooms plus a reception area; Private exterior entrance from the parking lot
