117 Fairfax St Alexandria, VA 22314
- Office buildings
- 7,024 SF
- 0.11 lot acres
Current Use by Public Records
- Wayfarer RV Rental / Recreational Vehicle Rental Agency
Property Details for 117 Fairfax St
- Year built
- 1880
- Lot size
- 0.11 lot acres
- Property size
- 7,024 SF
- Zone code
- CD - COMMERCIAL DOWNTOWN
- Property type
- Office buildings
- APN
- 12769500
- APU
- 12769500
Description
This exceptional Old Town Alexandria retail property at 117 N Fairfax Street offers a unique opportunity. The building, totaling 10,750 square feet, is a three-story structure with multiple tenancies, currently featuring 5,900 square feet of vacant space. A minimum of 3,500 square feet is divisible, with a maximum contiguous space of 3,500 square feet also available. The property boasts fifteen on-site parking spaces and an elevator for convenient access to all three floors. Its location in the desirable Old Town submarket provides excellent visibility and foot traffic. The space features high ceilings and a large open floor plan, ideal for a variety of retail uses. Zoned CD in the City of Alexandria, this property offers significant signage opportunities, including shingle signage for lower-level spaces and prominent signage for Suite 201, which is conveniently located on Market Square. This prime retail location presents a compelling investment opportunity in a thriving Old Town Alexandria market. The property's central location and ample parking make it an attractive option for businesses seeking high visibility and convenient access for customers and employees. The flexible space allows for customization to suit various retail needs.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $3,765,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $3,625,000
- 6.5%
- $3,690,000
- 7%
- $3,885,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $3,005,000
- Geo Method
- $3,865,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $3,685,000
- Retail
- $3,995,000
- Mixed-Use
- $3,475,000
- Hospitality
- $3,070,000
- Educational
- $3,410,000
- Residential Income
- $3,605,000
- Energy
- $2,975,000
- Income-Based Land
- $3,990,000
- Food Service
- $3,385,000
Location Insight
- Map
- Local Demand
- City
- Alexandria
- County
- Alexandria City
- State
- Virginia
- Longitude
- -77.042
- Latitude
- 38.8051
- CBSA code
- 47900
- CBSA name
- WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA
