Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,100,000
Office buildings
114 Patrick St Alexandria, VA 22314-3027
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US87-0736398
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1700
Total area
3,338 SF
Lot
0.14 ac (6,098 SF)
Zoning code
CD - COMMERCIAL DOWNTOWN
APN
11388000
UPID
US87-0736398
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Statescape Consultant
-
Lux Rox Home Decor Store Department Store
-
Izalia Laser Hair Removal & Rejuvenation Spa Skin Care Clinic
-
State Analysis Inc Marketing & Advertising Advertising Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.10M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.06M
Blend (final)
Blend
$2.10M
Owner & transaction history
Olympia Property Managment LLC · 2 yrs held
Olympia Property Managment LLC
since 2024
Last sale
$2.1M
2 recorded transactions
Zoning & alternative use
CD - COMMERCIAL DOWNTOWN · Alexandria, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.0M
+24.4%
Retail stores
$1.7M
+10.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Alexandria submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Alexandria submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,100,000
ML approach
$2,100,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,570,000
Current use
COMMERCIAL (GENERAL)
$1,955,000
Change: +24% · Conversion: Easy
RETAIL STORES
$1,740,000
Change: +11% · Conversion: Moderate
Blend value · Realmo final
$2.10M
Range $1.89M – $2.31M · ±10% · vs last sale $2.10M (May 17 2024)
Last sale anchor
$2.10M
May 17 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$629 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$15,129
Tax year 2023
Assessed value
$1,362,942
Assessed 2023
Previous assessed
$1,362,942
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,174,518
Assessed improvement
$188,424
Land market value
$1,174,518
Improvement market value
$188,424
Total market value
$1,362,942
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1700
Heating
HOT WATER
Cooling
YES
Stories
3
Bathrooms
6
Total area
3,338 SF
Lot
0.14 ac (6,098 SF)
Zoning code
CD - COMMERCIAL DOWNTOWN
APN
11388000
UPID
US87-0736398
Jurisdiction
ALEXANDRIA CITY
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
CD - COMMERCIAL DOWNTOWN · Alexandria, VA
Zoning CD - COMMERCIAL DOWNTOWN · permitted uses
CD - COMMERCIAL DOWNTOWN · Alexandria, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alexandria. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$2.0M
RETAIL STORES
Est. value
$1.7M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1700
Heating
HOT WATER
Cooling
Yes
Stories
3
Bathrooms
6
Lot
0.14 ac
Current owner
From public records · entity-resolved
Olympia Property Managment LLC
Entity
Mailing address
309 E GLENDALE AVE APT #4, ALEXANDRIA, VA 22301-1842
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 17, 2024
$2,100,000
Olympia Property Managment LLC
Elkins South Patrick LLC
Special Warranty Deed
$1,800,000 · Dominion Service LLC
May 31, 2005
—
Elkins South Patrick LLC
Elkins Davis Trust
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 114 Patrick St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
