Commercial Space in Mount
For Sale
$349,000
Pending
8407 Richmond Highway #b, Alexandria, VA 22309
Commercial space suitable for salon, office, or retail.
Property Size1,200 SF
Days on Market353
Property Features for 8407 Richmond Highway #b
General Information
Standard status
Pending
Size
1,200 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,394
Building Details
Year Built
1985
Listing Agency:
TOWNLEY AND SEAMAN REALTY LLC
(703) 799-3800
Listed By:
STEVEN M TOWNLEY
Source:
Corcoran
Added: Sep 24, 2025
Changed: Sep 10
Last Checked: Sep 10 at 6:49AM
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 TOWNLEY AND SEAMAN REALTY LLC
Investment Insights
Based on property information with market context.
This commercial space, located in a desirable Mount Vernon location, presents a rare opportunity for purchase. The property is ideally suited for salon, office, or retail use. It features a conference/greeting room at the entrance, along with five separate offices. A kitchen is equipped with a sink, microwave, and refrigerator. Additionally, there is a full bathroom with a shower. The condo fee is $292.40 per month. An upcoming Route 1 redevelopment plan enhances the investment potential of this property. An adjacent office space is also available, offering the possibility of combining both buildings for a total of 2400 square feet at a combined price of $700,000. The single building with 1200 square feet is available for $3,600 per month, or both can be rented for $7200 per month.
Key Highlights
- Desirable Mount Vernon location with upcoming Route 1 redevelopment plan creating a great investment opportunity.
- Commercial space available for rent or purchase.
- Suitable for salon, office, or retail use.
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
$16,067
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
4.60%
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%
$321,340
$321.3K
Cap Rate 7%
$229,529
$229.5K
Cap Rate 9%
$178,522
$178.5K
Market Conditions
NOI Build-Up for 1,200 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
$25.1K $20.88/SF
− Vacancy
−$3.6K −$3.03/SF
EGI
$21.4K $17.85/SF
− OpEx
−$5.4K −$4.46/SF
NOI
$16.1K $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%
$321,340
Cap Rate 7%
$229,529
Cap Rate 9%
$178,522
Alternative Uses
Best Use
Office B
$229.5K
$200.8K – $267.8K
NOI $16,067 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$666.5K
$583.2K – $777.6K
NOI $46,656 @ 7.0% cap · market cap 13.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
661
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Commercial space suitable for salon, office, or retail.
Where is this office units located?
The property is located at 8407 Richmond Highway #b Alexandria, VA.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Desirable Mount Vernon location with upcoming Route 1 redevelopment plan creating a great investment opportunity.; Commercial space available for rent or purchase.; Suitable for salon, office, or retail use.
