End-Unit Flex
New
For Sale
$860,000
5645 GENERAL WASHINGTON DRIVE L 46, Alexandria, VA 22312
Finished office, warehouse, and mezzanine areas support a range of commercial operations.
Property Size1,800 SF
Price / SF$477.78
Days on Market2
Property Features for 5645 GENERAL WASHINGTON DRIVE L 46
General Information
Standard status
Active
Size
1,800 SF
Total Parking Spaces
2
Property subtype
Industrial
Zoning
I-5
Warehouse & Industrial
Warehouse Space
1,800 SF
Office Build-Out
1,100 SF
Mezzanine
400 SF
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,584
Building Details
Building Size
1,800 SF
Year Built
1980
Listing Agency:
Lando Massey Real Estate
(540) 907-0014
Listed By:
Tim Webb · License #0225205735
(540) 907-0014
Source:
Kerishull
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 13 at 9:22AM
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 Lando Massey Real Estate
Investment Insights
Based on property information with market context.
This end-unit flex property combines 1,100 SF of office space with a 1,800 SF two-story warehouse and 400 SF mezzanine. The interior includes a reception area, three offices, conference room, kitchenette, lounge, luxury vinyl plank flooring, marble accents, and modern wood finishes.
Two assigned parking spaces are positioned in front of the unit, with additional parking permits or tags available through the condominium association. The property is located at 5645 General Washington Drive in Alexandria and offers access to I-95, I-395, and I-495 via Edsall Road. I-5 General Industrial zoning supports a wide range of permitted uses.
Two assigned parking spaces are positioned in front of the unit, with additional parking permits or tags available through the condominium association. The property is located at 5645 General Washington Drive in Alexandria and offers access to I-95, I-395, and I-495 via Edsall Road. I-5 General Industrial zoning supports a wide range of permitted uses.
Key Highlights
- 1,100 SF of finished office space with reception, three offices, conference room, kitchenette, and lounge
- 1,800 SF two‑story warehouse with 400 SF mezzanine
- End‑unit configuration with luxury vinyl plank, marble, and modern wood finishes
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
$24,101
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
2.80%
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%
$482,020
$482.0K
Cap Rate 7%
$344,300
$344.3K
Cap Rate 9%
$267,789
$267.8K
Market Conditions
NOI Build-Up for 1,800 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
$37.6K $20.88/SF
− Vacancy
−$5.4K −$3.03/SF
EGI
$32.1K $17.85/SF
− OpEx
−$8.0K −$4.46/SF
NOI
$24.1K $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%
$482,020
Cap Rate 7%
$344,300
Cap Rate 9%
$267,789
Alternative Uses
Best Use
Office B
$344.3K
$301.3K – $401.7K
NOI $24,101 @ 7.0% cap · market cap 2.80%
Second Best
Flex RnD
$329.9K
$288.7K – $384.9K
NOI $23,096 @ 7.0% cap · market cap 2.69%
Theoretical Best
Specialty Retail
$999.8K
$874.8K – $1.17M
NOI $69,984 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
890
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 22312, VA
30,447
Population
11,191
Households
2.7
Avg Household Size
36
Median Age
53%
College-Educated
92%
High-School Grad
5.1 sq mi
ZIP Area
5,970
Density / Sq Mi
$105,044
Median Household Income
$53,471
Median Earnings
$2,009
Median Rent
$593,600
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?
Flex space - Finished office, warehouse, and mezzanine areas support a range of commercial operations.
Where is this flex space located?
The property is located at 5645 GENERAL WASHINGTON DRIVE L 46 Alexandria, VA.
What is the asking price?
The asking price for this property is $860,000.
What are key features of this property?
This property features: 1,100 SF of finished office space with reception, three offices, conference room, kitchenette, and lounge; 1,800 SF two‑story warehouse with 400 SF mezzanine; End‑unit configuration with luxury vinyl plank, marble, and modern wood finishes
