Office Condo Suite with
For Sale
$340,000
8407 RICHMOND HIGHWAY Unit 8407E, Alexandria, VA 22309
Office condo suite with a reception area, five offices, and an interior connection to adjacent Suite D.
Property Size1,152 SF
Price / SF$295.14
Days on Market52
Property Features for 8407 RICHMOND HIGHWAY Unit 8407E
General Information
Standard status
Active
Size
1,152 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$3,387
Amenities
Central Air
3
Ceramic Tile, Carpet
Parking.
Unassigned, Lot.
Building Details
Year Built
1985
Listing Agency:
CENTURY 21 New Millennium
(571) 223-9775
Listed By:
Stephanie Young · License #0225212438
(571) 223-9775
Source:
Xome
Added: Jul 4
Changed: Aug 24
Last Checked: Aug 23 at 6:41AM
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
Investment Insights
Based on property information with market context.
Commercial office condo Suite E for sale in Potomac Square, a condominium office park along the Richmond Highway (Route 1) corridor in the Mount Vernon area of Alexandria. The space was built in 1985 and is zoned C-5 (Neighborhood Retail Commercial District), with by-right commercial uses including professional and business offices, personal service, retail sales, financial institutions, restaurants, medical and repair services, private clubs, and other neighborhood-serving commercial uses.
Suite E is currently configured as office space for a non-profit organization and includes a welcome/reception area, three private offices (including one with a front-facing window), a break area with ceramic tile flooring, a bathroom, a copy machine area, and two additional private offices with rear-facing windows for five offices total. An interior opening connects Suite E to the adjacent Suite D, creating flexibility for a buyer to combine both suites into a larger contiguous space or to reinstall the connecting wall and operate Suite E independently. The property also offers a surface parking lot with ample unassigned parking spaces.
Convenient access is provided to 95, 495, and the Fairfax County Pkwy, with nearby proximity to Fort Belvoir, Inova Mount Vernon Hospital, and Fort Belvoir Community Hospital. Staff and visitors can also take advantage of nearby retail and dining options, as well as proximity to Huntington Metro Station, Old Town Alexandria, and the National Harbor.
Suite E is currently configured as office space for a non-profit organization and includes a welcome/reception area, three private offices (including one with a front-facing window), a break area with ceramic tile flooring, a bathroom, a copy machine area, and two additional private offices with rear-facing windows for five offices total. An interior opening connects Suite E to the adjacent Suite D, creating flexibility for a buyer to combine both suites into a larger contiguous space or to reinstall the connecting wall and operate Suite E independently. The property also offers a surface parking lot with ample unassigned parking spaces.
Convenient access is provided to 95, 495, and the Fairfax County Pkwy, with nearby proximity to Fort Belvoir, Inova Mount Vernon Hospital, and Fort Belvoir Community Hospital. Staff and visitors can also take advantage of nearby retail and dining options, as well as proximity to Huntington Metro Station, Old Town Alexandria, and the National Harbor.
Key Highlights
- Suite E office condo includes 1,152 SF of office space with a welcome/reception area
- Layout features five offices total, including three private offices and two additional private offices with rear‑facing windows
- Includes a break area with ceramic tile flooring, a bathroom, and a copy machine area
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
$15,424
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
4.54%
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%
$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
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
$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 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%
$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 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$639.9K
$559.9K – $746.5K
NOI $44,790 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with authorities.
Property 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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office condo suite with a reception area, five offices, and an interior connection to adjacent Suite D.
Where is this office units located?
The property is located at 8407 RICHMOND HIGHWAY Unit 8407E Alexandria, VA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Suite E office condo includes 1,152 SF of office space with a welcome/reception area; Layout features five offices total, including three private offices and two additional private offices with rear‑facing windows; Includes a break area with ceramic tile flooring, a bathroom, and a copy machine area
