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Property profile & analytics
OFF-MARKET
Estimated value
$2,030,000
Community centers
2923 Lee Ave Alexandria, VA 22306-1721
Entity Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-2357022
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Total area
6,000 SF
Lot
1.04 ac (45,295 SF)
Zoning code
C-8(HIGHWAY COMMERCIAL)
APN
093-1-18-D-0117-A
UPID
US87-2357022
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
-
Metro by T-Mobile Mobile Phone Store Electronics & Wireless Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.03M
Owner & transaction history
2923 East Lee Avenue LLC · 6 yrs held
2923 East Lee Avenue LLC
since 2019
7 recorded transactions
Zoning & alternative use
C-8(HIGHWAY COMMERCIAL) · Alexandria, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.4M
+52.5%
Retail stores
$3.1M
+41.4%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,210,000
Current use
COMMERCIAL (GENERAL)
$3,375,000
Change: +52% · Conversion: Easy
RETAIL STORES
$3,130,000
Change: +41% · Conversion: Easy
INDUSTRIAL (GENERAL)
$2,040,000
Change: -8% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,035,000
Change: -8% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,005,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$2.03M
Range $1.83M – $2.23M · ±10%
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
$338 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$39,820
Tax year 2024
Assessed value
$3,102,450
Assessed 2024
Previous assessed
$2,825,200
+9.8% YoY
Effective rate
1.28%
On assessed value
Assessed land
$951,200
Assessed improvement
$2,151,250
Land market value
$951,200
Improvement market value
$2,151,250
Total market value
$3,102,450
Applied tax rate
6.0000
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Heating
NONE
Stories
1
Total area
6,000 SF
Lot
1.04 ac (45,295 SF)
Zoning code
C-8(HIGHWAY COMMERCIAL)
APN
093-1-18-D-0117-A
UPID
US87-2357022
Jurisdiction
FAIRFAX
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
C-8(HIGHWAY COMMERCIAL) · Alexandria, VA
Zoning C-8(HIGHWAY COMMERCIAL) · permitted uses
C-8(HIGHWAY COMMERCIAL) · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.2M
COMMERCIAL (GENERAL)
Est. value
$3.4M
RETAIL STORES
Est. value
$3.1M
INDUSTRIAL (GENERAL)
Est. value
$2.0M
WAREHOUSE, STORAGE
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$2.0M
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
RETAIL STORES
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
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
Heating
NONE
Stories
1
Lot
1.04 ac
Current owner
From public records · entity-resolved
2923 East Lee Avenue LLC
Entity
Free & Clear · 6 yrs held
Mailing address
11105 ROSEMONT DR, ROCKVILLE, MD 20852-3652
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 12, 2019
—
2923 East Lee Avenue LLC
Benjamin Molayem
Grant Deed
related
—
Feb 12, 2018
—
Benjamin Molayem
Epc Va 174 LLC
Warranty Deed
related
—
Dec 29, 2016
$2,838,000
Epc Va 174 LLC
Memorial Venture LLC
Warranty Deed
—
Apr 12, 2010
—
Memorial Venture LLC
—
Trustees Deed
related
$200,000 · Wilson Invs
Aug 20, 2009
$500,000
Memorial Venture LLC
First Horizon Home Loans
Grant Deed
$375,000 · Mainstreet Bk
May 1, 2009
$1,005,000
First Horizon Home Loans
Casterline William H JR
Trustees Deed
related
—
Sep 9, 2008
—
Windsor Capital LLC
Windsor Holdings LLC
Correction Deed
related
—
Jun 22, 2005
$2,500,000
Windsor Capital LLC
Grypeos,anastatsio & Anna
Correction Deed
related
—
Jun 20, 2005
$2,500,000
Windsor Holdings LLC
Grypeos,anastatsio & Anna
Grant Deed
related
—
—
—
Memorial Ventures LLC
—
Deed Of Trust
related
$881,562 · Freedom Bk/va
—
—
Memorial Venture LLC
—
Deed Of Trust
related
$200,000 · Shaista Mahmood
—
—
Grypeos,anastasios & Anna
—
Deed Of Trust
related
$230,400 · Allstate Lending Services
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.
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