Building Details

Building Size 6,600 SF

Year Built 1900

Tenancy Multi

Listing Agency: Seaport Properties LLC

Listed By: Cheryl Monno · License #0225093855 Show Phone

Source: Barnesrealestatecompany

Added: Oct 16 Changed: Oct 19 Last Checked: Oct 19 at 2:27PM

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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 Seaport Properties LLC

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Investment Insights

Based on property information with market context.

This 1900-built mixed-use property brings together two retail spaces and two residential apartments. Each apartment has two bedrooms and one bathroom, and residents share a patio at the rear. The property is fully occupied.

The property includes 809 King Street, 809 1/2 King Street, and 103 1/2 N Alfred Street in Alexandria’s Old Town. Its configuration pairs street-level retail with residential units in the same property.

Key Highlights

• Two retail spaces and two residential apartments
• Each apartment has 2 bedrooms and 1 bathroom
• Shared patio at the rear

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$220,781

Cap Rate

5.52%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,415,620 $4.4M

Cap Rate 7%

$3,154,014 $3.2M

Cap Rate 9%

$2,453,122 $2.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,600 SF

Gross rent

$330.3K $50.04/SF

− Vacancy

−$14.9K −$2.25/SF

EGI

$315.4K $47.79/SF

− OpEx

−$94.6K −$14.34/SF

NOI

$220.8K $33.45/SF

Area

Alexandria, VA

Vacancy

4.50%

Lease Rate

$50.04 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,415,620

Cap Rate 7%

$3,154,014

Cap Rate 9%

$2,453,122

Alternative Uses

Best Use

Retail

$3.15M

$2.76M – $3.68M (±1% cap)

NOI $220,781 @ 7.0% cap · market cap 5.52%

Second Best

Mixed Use

$1.64M

$1.44M – $1.92M (±1% cap)

NOI $115,088 @ 7.0% cap · market cap 2.88%

Theoretical Best

Specialty Retail

$3.67M

$3.21M – $4.28M (±1% cap)

NOI $256,608 @ 7.0% cap · market cap 6.42%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Asian Bistro Restaurant

Suggested Use

Top Pick Auto Parts Store (Bike/Boat/Book/etc) Store Locksmith Veterinary Clinic Tanning Salon Mobile Phone Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

6,128

Businesses Nearby

Explore this area Business Placement

Demographics for 22314, VA

35,784

Population

21,154

Households

1.7

Avg Household Size

39

Median Age

79%

College-Educated

97%

High-School Grad

3.7 sq mi

ZIP Area

9,671

Density / Sq Mi

$144,359

Median Household Income

$98,121

Median Earnings

$2,312

Median Rent

$856,400

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The building combines two retail spaces with two occupied residential apartments.

Where is this mixed-use property located?

The property is located at 809 KING STREET Alexandria, VA.

What is the asking price?

The asking price for this property is $4,000,000.

What are key features of this property?

This property features: Two retail spaces and two residential apartments; Each apartment has 2 bedrooms and 1 bathroom; Shared patio at the rear