Connected Two-Unit Office
New
For Sale
$579,800
8407 Richmond Highway #8407D AND 8407E, Alexandria, VA 22309
The combined suites include reception, private offices, a conference room, kitchen, bathrooms, and storage areas.
Property Size2,304 SF
Price / SF$251.65
Days on Market2
Property Features for 8407 Richmond Highway #8407D AND 8407E
General Information
Standard status
Active
Size
2,304 SF
Total Parking Spaces
16
Property subtype
Commercial
Zoning
C-5, Neighborhood Retail Commercial Dist
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Additional Details
Office Units
2
Property Use
Office
Taxes and HOA fees
Annual Taxes
$6,788
Building Details
Building Size
2,304 SF
Year Built
1985
Tenancy
Single
Listing Agency:
CENTURY 21 New Millennium
(703) 556-4222
Listed By:
Stephanie A Young · License #0225212438
(571) 223-9775
Source:
Gwenbrauer
Added: Oct 26
Changed: Oct 27
Last Checked: Oct 27 at 3:29AM
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.
Suites D and E form a connected office condominium totaling 2,304 square feet. Built in 1985, the space is arranged with a reception area, eight private offices, a conference room, a kitchen and break area, two bathrooms, and several copy and filing areas. An interior opening currently links the suites; reinstalling the connecting wall would allow each 1,152-square-foot unit to function independently. The property is zoned C-5, Neighborhood Retail Commercial District, and is currently used as office space by a nonprofit organization.
The office park is on Richmond Highway (Route 1) in the Mount Vernon area of Alexandria, with access to I-95, I-495, and the Fairfax County Parkway. Nearby destinations include Fort Belvoir, Inova Mount Vernon Hospital, Mount Vernon Plaza, and the Beacon Center, which includes Target and Home Depot. A surface lot provides unassigned parking.
The office park is on Richmond Highway (Route 1) in the Mount Vernon area of Alexandria, with access to I-95, I-495, and the Fairfax County Parkway. Nearby destinations include Fort Belvoir, Inova Mount Vernon Hospital, Mount Vernon Plaza, and the Beacon Center, which includes Target and Home Depot. A surface lot provides unassigned parking.
Key Highlights
- Two connected office condominium suites totaling 2,304 square feet
- Eight private offices, reception area, conference room, kitchen, two bathrooms, and copy and filing areas
- Each suite measures 1,152 square feet and can operate separately if the connecting wall is restored
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
2
Office units
Single-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 - The combined suites include reception, private offices, a conference room, kitchen, bathrooms, and storage areas.
Where is this office unit located?
The property is located at 8407 Richmond Highway #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 connected office condominium suites totaling 2,304 square feet; Eight private offices, reception area, conference room, kitchen, two bathrooms, and copy and filing areas; Each suite measures 1,152 square feet and can operate separately if the connecting wall is restored
