Office Condo with Private
8407 Richmond Highway #8407D, Alexandria, VA 22309
For Sale
New
$279,900
C-5 zoning allows a range of neighborhood-serving commercial uses, including offices, retail, and restaurants.
Property Size1,152 SF
Price / SF$242.97
Days on Market4
Property Features for 8407 Richmond Highway #8407D
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Highway Access
Public Transit
Additional Details
Currently Operating
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
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 11:15AM
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.
Suite D is a 1,152-square-foot office condominium in Potomac Square, built in 1985. Its layout includes a windowed room with a direct exterior entrance, two private offices with rear-facing windows, a conference room, a kitchen and break area, a bathroom, and a copy and file area. The windowed entrance room could serve as reception space. An interior opening connects the unit to Suite E; the opening can be closed to retain Suite D as an independent unit, or the suites can be combined if both are acquired. The building has a surface lot with unassigned parking.
The property is on Richmond Highway (Route 1) in the Mount Vernon area of Alexandria. C-5, Neighborhood Retail Commercial District zoning permits a range of uses, including professional offices, personal services, retail, financial institutions, restaurants, medical services, and repair services. Nearby destinations named in the property information include Mount Vernon Plaza, the Beacon Center, Huntington Metro Station, Fort Belvoir, and Inova Mount Vernon Hospital.
The property is on Richmond Highway (Route 1) in the Mount Vernon area of Alexandria. C-5, Neighborhood Retail Commercial District zoning permits a range of uses, including professional offices, personal services, retail, financial institutions, restaurants, medical services, and repair services. Nearby destinations named in the property information include Mount Vernon Plaza, the Beacon Center, Huntington Metro Station, Fort Belvoir, and Inova Mount Vernon Hospital.
Key Highlights
- 1,152‑square‑foot office condominium; built in 1985
- Two private offices, conference room, kitchen and break area, bathroom, and copy/file area
- Direct exterior entrance to a windowed room; two private offices have rear‑facing windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,424
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$308,480
$308.5K
Cap Rate 7%
$220,343
$220.3K
Cap Rate 9%
$171,378
$171.4K
Market Conditions
NOI Build-Up for 1,152 SF
Gross rent
$24.1K $20.88/SF
− Vacancy
−$3.5K −$3.03/SF
EGI
$20.6K $17.85/SF
− OpEx
−$5.1K −$4.46/SF
NOI
$15.4K $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%
$308,480
Cap Rate 7%
$220,343
Cap Rate 9%
$171,378
Alternative Uses
Best Use
Office B
$220.3K
$192.8K – $257.1K
NOI $15,424 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$639.9K
$559.9K – $746.5K
NOI $44,790 @ 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
Yes
Highway access
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
$539,700
Median Home Value
Market
Average Price Trend$/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 - C-5 zoning allows a range of neighborhood-serving commercial uses, including offices, retail, and restaurants.
Where is this office unit located?
The property is located at 8407 Richmond Highway #8407D Alexandria, VA.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 1,152‑square‑foot office condominium; built in 1985; Two private offices, conference room, kitchen and break area, bathroom, and copy/file area; Direct exterior entrance to a windowed room; two private offices have rear‑facing windows
