Old Town Alexandria Ground
For Sale
$310,000
801 N Pitt Street Unit 123, Alexandria, VA 22942
Ground level office in a mixed-use building in Old Town.
Property Size1,188 SF
Days on Market194
Property Features for 801 N Pitt Street Unit 123
General Information
Standard status
Active
Size
1,188 SF
Property subtype
Office
Building Details
Building Size
1,188 SF
Listing Agency:
Coldwell Banker Commercial
Listed By:
Ed Cave · License #225079352
(703) 919-2149
Source:
Cbcworldwide
Added: Mar 27
Changed: Oct 4
Last Checked: Oct 5 at 2:59PM
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 Coldwell Banker Commercial
Investment Insights
Based on property information with market context.
This ground-level office space is located in a mixed-use building in Old Town Alexandria. The layout includes two entrance areas, one of which could serve as an additional office. A glass-enclosed conference room measures 14 feet by 15 inches. There are two offices featuring large windows that face the parking lot. The property also includes a 12-foot by 12-foot fully equipped kitchen and a restroom with a shower. Previously used as a law firm, the space is suitable for a variety of professional uses. The building is primarily residential and offers a secure environment.
Key Highlights
- Ground level office space in Old Town Alexandria
- Two entrance areas, one perfect for an office
- Glass enclosed conference room**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,906
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$318,120
$318.1K
Cap Rate 7%
$227,229
$227.2K
Cap Rate 9%
$176,733
$176.7K
Market Conditions
NOI Build-Up for 1,188 SF
Gross rent
$24.8K $20.88/SF
− Vacancy
−$3.6K −$3.03/SF
EGI
$21.2K $17.85/SF
− OpEx
−$5.3K −$4.46/SF
NOI
$15.9K $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%
$318,120
Cap Rate 7%
$227,229
Cap Rate 9%
$176,733
Alternative Uses
Best Use
Office B
$227.2K
$198.8K – $265.1K
NOI $15,906 @ 7.0% cap · market cap 5.13%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$659.8K
$577.4K – $769.8K
NOI $46,189 @ 7.0% cap · market cap 14.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,236
Businesses Nearby
Explore this area
Business Placement
Demographics for 22942, VA
9,435
Population
4,947
Households
1.9
Avg Household Size
45
Median Age
35%
College-Educated
91%
High-School Grad
117.7 sq mi
ZIP Area
80
Density / Sq Mi
$97,569
Median Household Income
$50,443
Median Earnings
$1,148
Median Rent
$300,000
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
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Frequently Asked Questions
What type of property is this?
Office units - Ground level office in a mixed-use building in Old Town.
Where is this office units located?
The property is located at 801 N Pitt Street Unit 123 Alexandria, VA.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Ground level office space in Old Town Alexandria; Two entrance areas, one perfect for an office; Glass enclosed conference room**
