1908 Mount Vernon AveAlexandria, VA 22301

This exceptional mixed-use property at 1908 Mt. Vernon Ave., Alexandria, VA 22301, presents a compelling value-add investment opportunity. The 13,096 square foot building, constructed in 1946 with renovations in 1980, 1994, and 2008, is situated on a 0.249-acre lot and features a three-story structure. Currently operating as a multi-tenant property, it boasts a strong tenant base including the USPS, with a 5-year lease commencing January 1, 2024, and expiring December 31, 2028. The property is zoned CL and RB, offering flexibility for future development. The asking price is $3,950,000, translating to $301.62 per square foot. The building includes two tenants and offers approximately 22 parking spaces. The upper office floors have been upgraded to a Class A style, while the third floor presents a vacancy for potential upside. The property's location in the heart of Del Ray, minutes from Amazon HQ2, the DC line, National Airport, the Beltway, and nearby Metro stations, provides unparalleled access and convenience. The inclusion of 115-117 E. Howell Ave., RB-zoned lots used for tenant parking under a special-use permit, further enhances the property's appeal. This fee-simple ownership opportunity allows for exploration of various development options, including a potential residential conversion. The property's strong existing lease and prime location make it an attractive investment for both short-term and long-term returns.