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    Elevator-Accessible Mixed-Use Condo Title is generated by Realmo AI

    4600 DUKE Street, Alexandria, VA 22304

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    For Sale
    $240,000

    Commercial Sale - ALEXANDRIA, VA

    Type:Office
    Property size:
    1,140 SF
    Price / SF:
    $210/SF
    Added:
    Dec 30, 2025
    Days on Market:
    158
    Last Refresh:
    Jun 6 at 4:06 pm

    Property Features for 4600 DUKE Street

    General Information

    Property type
    Other
    Property subtype
    Office
    Parking
    300
    Parking features
    Parking Lot, Special Needs
    Standard status
    Active

    Taxes and HOA fees

    Tax Annual Amount
    2729

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1967
    Building materials
    Brick

    We can help!

    Listing Contact
    WAI LUN L LEUNG

    Listing agent WAI LUN L LEUNG License #0225204506

    Listing office Century 21 Redwood Realty 1616 P Street, FREDERICKSBURG, VA

    Listing date Dec 30, 2025

    MLS# VAAX2052738

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 1,140 SF mixed‑use condo (Unit 413) at 4600 Duke Street, priced at $259,000
    • Mixed‑use zoning allowing both commercial and residential use
    • Elevator access plus 24‑hour building security
    • Central air and forced‑air heating; brick construction; building year built 1967
    • Parking lot on‑site with special needs parking
    • Convenient transit: bus stop under 1 mile, Metro within 3 miles, and Reagan National Airport less than 10 miles

    Overview

    This mixed-use condo unit offers an open, flexible floor plan designed to support a range of commercial or residential uses. The offering is for Unit 413 at 4600 Duke Street, with 1,140 square feet of space, and it is presented as a condominium with mixed-use zoning that allows both commercial and residential activity.

    The property is located at 4600 Duke Street in Alexandria, VA 22304. The building provides elevator access and 24-hour building security, and it is professionally managed. The address is also served by nearby transit connections, including a bus stop under a mile, Metro within 3 miles, and Reagan National Airport less than 10 miles away. The building environment includes a resident population of 400+ residents, supporting services for on-site demand.

    For tenants and buyers, the layout is well-suited for professionals and service-oriented businesses that benefit from a client-facing setup and a flexible interior plan. The mixed-use zoning and secure, managed building setting can accommodate office-style uses as well as potential live-work configurations, depending on how a user intends to operate within the zoning framework.

    Local Financial Insights For Mixed Use

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $34.2k $30.00
    − Vacancy −$2.4k −$2.10
    EGI $31.8k $27.90
    − OpEx −$11.9k −$10.46
    NOI $19.9k $17.44
    1,140 SF · lease $30.00/SF/yr · vacancy 7.00% · expense 37.50%

    Alternative Uses

    Best Use
    Mixed Use
    $284.0K
    $248.5K – $331.3K (±1% cap)
    NOI $19,879 @ 7.0% cap · market cap 8.28%
    Second Best
    Healthcare Medical
    $255.5K
    $223.5K – $298.0K (±1% cap)
    NOI $17,882 @ 7.0% cap · market cap 7.45%
    Theoretical Best
    Specialty Retail
    $633.2K
    $554.0K – $738.7K (±1% cap)
    NOI $44,323 @ 7.0% cap · market cap 18.47%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    4600 Duke Street ... Condominium Complex 1 800 Bondsman Law Firm Alexandria Firefighters Inc Advocacy Group Bethesda Natural Pain ... Physician Queen braiding hair ... Hair Salon

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Alexandria
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.11151
    Latitude
    38.81097

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    FAQs

    What type of property is this?
    Live-work space - Flexible commercial-residential condo suite with elevator access and 24-hour security in a professionally managed building.
    Where is this live-work space located?
    The property is located at 4600 DUKE Street Alexandria, VA.
    What is the asking price?
    The asking price for this property is $240,000.
    What are key features of this property?
    This property features: 1,140 SF mixed‑use condo (Unit 413) at 4600 Duke Street, priced at $259,000; Mixed‑use zoning allowing both commercial and residential use; Elevator access plus 24‑hour building security
    (571) 497-4607
    We can help!
    Listing Contact
    WAI LUN L LEUNG
    Real Estate License ID: 0225204506
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    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.

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