Adjacent Office Condo
For Sale
$579,800
8407 -d & E Richmond Hwy #8407d And 8407e, Alexandria, VA 22309
Two connected office condos in a commercial condominium office park, with reception, private offices, conference room, and parking.
Property Size2,304 SF
Price / SF$251.65
Days on Market107
Property Features for 8407 -d & E Richmond Hwy #8407d And 8407e
General Information
Standard status
Active
Size
2,304 SF
Property subtype
Commercial
Zoning
C-5
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$6,788
Building Details
Year Built
1985
Tenancy
Multi
Listing Agency:
CENTURY 21 NEW MILLENNIUM
(703) 556-4222
Listed By:
STEPHANIE A YOUNG · License #0225212438
(571) 223-9775
Source:
Corcoran
Added: Jul 8
Changed: Oct 16
Last Checked: Oct 20 at 8:45PM
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 NEW MILLENNIUM
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Two adjacent, connected office condo suites are offered for sale in Potomac Square, a commercial condominium office park along Richmond Highway (Route 1) in the Mount Vernon area of Alexandria. Suites D and E are currently configured as one combined office space for a non-profit organization, with a welcome/reception area, eight private offices, a kitchen/break room with ceramic tile flooring, a conference room, and two bathrooms, plus multiple copy/filing storage areas.
The property was built in 1985 and is zoned C-5 (Neighborhood Retail Commercial District), supporting a broad set of by-right commercial uses. Access to regional thoroughfares including 95, 495, and the Fairfax County Pkwy is described as convenient. The location is also within reach of Fort Belvoir and nearby medical facilities, with retail and dining options in the surrounding area.
An interior opening currently connects Suites D and E, which can support an owner-operator arrangement as one larger contiguous suite. Alternatively, the connecting wall could be reinstalled to operate the suites independently, and the building includes a surface parking lot with unassigned spaces for staff and visitors.
The property was built in 1985 and is zoned C-5 (Neighborhood Retail Commercial District), supporting a broad set of by-right commercial uses. Access to regional thoroughfares including 95, 495, and the Fairfax County Pkwy is described as convenient. The location is also within reach of Fort Belvoir and nearby medical facilities, with retail and dining options in the surrounding area.
An interior opening currently connects Suites D and E, which can support an owner-operator arrangement as one larger contiguous suite. Alternatively, the connecting wall could be reinstalled to operate the suites independently, and the building includes a surface parking lot with unassigned spaces for staff and visitors.
Key Highlights
- Two adjacent, connected commercial office condos (Suites D and E) totaling 2,304 SF in Potomac Square
- Built in 1985 and zoned C‑5 (Neighborhood Retail Commercial District), allowing a wide range of by‑right commercial uses
- Suites D and E currently configured for office use with a welcome/reception area, 8 private offices, conference room, and kitchen/break room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,849
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$616,980
$617.0K
Cap Rate 7%
$440,700
$440.7K
Cap Rate 9%
$342,767
$342.8K
Market Conditions
NOI Build-Up for 2,304 SF
Gross rent
$48.1K $20.88/SF
− Vacancy
−$7.0K −$3.03/SF
EGI
$41.1K $17.85/SF
− OpEx
−$10.3K −$4.46/SF
NOI
$30.8K $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%
$616,980
Cap Rate 7%
$440,700
Cap Rate 9%
$342,767
Alternative Uses
Best Use
Office B
$440.7K
$385.6K – $514.2K
NOI $30,849 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,580 @ 7.0% cap · market cap 15.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
596
Businesses Nearby
Explore this area
Business Placement
Demographics for 22309, VA
33,773
Population
13,082
Households
2.6
Avg Household Size
38
Median Age
44%
College-Educated
86%
High-School Grad
7.5 sq mi
ZIP Area
4,503
Density / Sq Mi
$101,556
Median Household Income
$47,738
Median Earnings
$1,749
Median Rent
$539,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Two connected office condos in a commercial condominium office park, with reception, private offices, conference room, and parking.
Where is this office unit located?
The property is located at 8407 -d & E Richmond Hwy #8407d And 8407e Alexandria, VA.
What is the asking price?
The asking price for this property is $579,800.
What are key features of this property?
This property features: Two adjacent, connected commercial office condos (Suites D and E) totaling 2,304 SF in Potomac Square; Built in 1985 and zoned C‑5 (Neighborhood Retail Commercial District), allowing a wide range of by‑right commercial uses; Suites D and E currently configured for office use with a welcome/reception area, 8 private offices, conference room, and kitchen/break room
