Five-Office Condominium
8407 Richmond Highway #8407E, Alexandria, VA 22309
For Sale
New
$279,900
The C-5-zoned suite includes reception, a break area, private offices, and on-site unassigned parking.
Property Size1,152 SF
Price / SF$242.97
Days on Market4
Property Features for 8407 Richmond Highway #8407E
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Highway Access
Public Transit
Additional Details
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
Changed: Nov 13
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 E is a 1,152-square-foot office condominium built in 1985. Its layout includes a reception area, five private offices, a break area, a bathroom, and a dedicated copy area. One office has a front-facing window, while two have rear-facing windows. An interior opening currently links the suite with adjacent Suite D; the connection can be closed to retain a separate unit or used to join the suites.
The property is in Potomac Square along the Richmond Highway (Route 1) corridor in the Mount Vernon area of Alexandria. C-5, Neighborhood Retail Commercial District zoning supports a range of stated uses, including office, personal services, retail, financial services, restaurants, medical services, repair services, and private clubs. The building has a surface lot with unassigned parking. Access to I-95, I-495, and the Fairfax County Parkway is noted.
The property is in Potomac Square along the Richmond Highway (Route 1) corridor in the Mount Vernon area of Alexandria. C-5, Neighborhood Retail Commercial District zoning supports a range of stated uses, including office, personal services, retail, financial services, restaurants, medical services, repair services, and private clubs. The building has a surface lot with unassigned parking. Access to I-95, I-495, and the Fairfax County Parkway is noted.
Key Highlights
- 1,152‑square‑foot office condominium, built in 1985
- Five private offices, reception area, break area, bathroom, and copy area
- Interior opening connects Suite E to adjacent Suite D; connection can be closed for separate use
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
Single-tenant
Tenancy
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 - The C-5-zoned suite includes reception, a break area, private offices, and on-site unassigned parking.
Where is this office unit located?
The property is located at 8407 Richmond Highway #8407E 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; Five private offices, reception area, break area, bathroom, and copy area; Interior opening connects Suite E to adjacent Suite D; connection can be closed for separate use
