Connected Two-Unit Office
8407 Richmond Highway #8407D AND 8407E, Alexandria, VA 22309
For Sale
New
$559,800
The combined suite includes eight private offices, a conference room, kitchen, and two bathrooms.
Property Size2,304 SF
Price / SF$242.97
Days on Market4
Property Features for 8407 Richmond Highway #8407D AND 8407E
General Information
Standard status
Size
Property subtype
Zoning
Occupancy
Site & Location
Highway Access
Road Access
Public Transit
Additional Details
Office Units
Currently Operating
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
CENTURY 21 New Millennium
Listed By:
Stephanie A Young · License VA #0225212438
(571) 223-9775
Source:
Johnstonrhodesrealestate
Added: Nov 11
Last Checked: Nov 13 at 11:04AM
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 comprise 2,304 square feet of connected office condominium space, built in 1985 and currently occupied by a nonprofit organization. The interior layout includes a reception area, eight private offices, a conference room, a kitchen and break area, two bathrooms, and copy and filing storage. An interior opening links the units; they may also be separated, with each suite measuring 1,152 square feet. The property has C-5, Neighborhood Retail Commercial District zoning, and the stated by-right uses include offices, retail, restaurants, financial institutions, personal services, and medical services.
The office park is on the Richmond Highway (Route 1) corridor in the Mount Vernon area of Alexandria. Access is available to I-95, I-495, and the Fairfax County Parkway. Nearby destinations named include Fort Belvoir, Inova Mount Vernon Hospital, Fort Belvoir Community Hospital, Mount Vernon Plaza, the Beacon Center, and Huntington Metro Station. The building has a surface parking lot with unassigned spaces.
The office park is on the Richmond Highway (Route 1) corridor in the Mount Vernon area of Alexandria. Access is available to I-95, I-495, and the Fairfax County Parkway. Nearby destinations named include Fort Belvoir, Inova Mount Vernon Hospital, Fort Belvoir Community Hospital, Mount Vernon Plaza, the Beacon Center, and Huntington Metro Station. The building has a surface parking lot with unassigned spaces.
Key Highlights
- Two connected office condominium units totaling 2,304 square feet
- Each suite measures 1,152 square feet and can operate independently if the connecting wall is restored
- Eight private offices, reception area, conference room, kitchen and break area, two bathrooms, and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,849
Cap Rate
5.51%
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 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,580 @ 7.0% cap · market cap 16.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Office units
100%
Occupancy
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
$539,700
Median Home Value
Market
Average Price Trend$/SF for Office Units in Alexandria, VA
Properties on Market for Office Units in Alexandria
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - The combined suite includes eight private offices, a conference room, kitchen, and two bathrooms.
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 $559,800.
What are key features of this property?
This property features: Two connected office condominium units totaling 2,304 square feet; Each suite measures 1,152 square feet and can operate independently if the connecting wall is restored; Eight private offices, reception area, conference room, kitchen and break area, two bathrooms, and storage
