Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3216 Richmond Hwy Alexandria, VA 22305-3026
    Back to Search
    Property profile & analytics

    3216 Richmond Hwy, Alexandria, VA 22305-3026

    View on Map
    • Commercial real estate
    • 340 SF
    • 0.50 lot acres
    Off-Market
    Property ID
    US87-0915772
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Shell / Gas Station

    Property Details for 3216 Richmond Hwy

    Year built
    2004
    Lot size
    0.50 lot acres
    Zone code
    CSL - COMMERCIAL SERVICE
    Property type
    Commercial real estate
    APN
    14269000
    APU
    14269000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 10, 2018 — Pmig 1018 LLC — Grant Deed · related $450M · Manufacturers & Traders Tr
    May 27, 2010 — Pmig 1008 LLC — Deed Of Trust · related $1.9M · John Marshall Bank
    Aug 29, 2008 — Pmig 1008 LLC — Grant Deed · related $8M · United Bank
    Jul 7, 2004 $1,500,000 Pmig 1008 LLC Crown Stations INC Grant Deed · related —
    — — Pmig 1008 LLC — Deed Of Trust · related $980k · John Marshall Bank
    — — Pmig 1008 LLC — Deed Of Trust · related $2.1M · John Marshall Bank
    — — Pmig 1008 LLC — Deed Of Trust · related $1.5M · Standard Insurance Co
    — — Pmig 1008 LLC — Deed Of Trust · related $1.9M · John Marshall Bank
    — — Pmig 1008 LLC — Deed Of Trust · related $1.5M · John Marshall Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Alexandria
    County
    Alexandria City
    State
    Virginia
    Longitude
    -77.0518
    Latitude
    38.8344
    CBSA code
    47900
    CBSA name
    WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $33,740
    $2,729,895
    $309,705
    $3,039,600
    -
    $2,729,895
    $309,705
    $3,039,600

    Comparable in this City

    • Value Estimation
      $670,000
      3,100 SF

      3907 Bruce St

      COMMERCIAL (GENERAL)
      3907 Bruce St, Alexandria, VA 22305
      View Details
    • Value Estimation
      $27,620,000
      75,083 SF

      3601 University Dr

      COMMERCIAL (GENERAL)
      3601 University Dr, Alexandria, VA 22305
      View Details
    • Value Estimation
      $585,000
      2,340 SF

      3407 Mt Vernon Ave

      COMMERCIAL (GENERAL)
      3407 Mt Vernon Ave, Alexandria, VA 22305-2605
      View Details
    • Value Estimation
      $12,120,000
      75,083 SF

      3330 Exchange Ave

      COMMERCIAL (GENERAL)
      3330 Exchange Ave, Alexandria, VA 22305
      View Details
    • Value Estimation
      $1,680,000
      6,576 SF

      2920 Richmond Hwy

      COMMERCIAL (GENERAL)
      2920 Richmond Hwy, Alexandria, VA 22305-3023
      View Details
    • Value Estimation
      $885,000
      1,128 SF

      3608 Mt Vernon Ave

      COMMERCIAL (GENERAL)
      3608 Mt Vernon Ave, Alexandria, VA 22305-2404
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,046 SF

      Alexandria Shopping Center Retail Space

      47,066 SF shopping center near National Landing, Alexandria, VA.
      3811-3831 Mount Vernon Ave, Alexandria, VA 22305
      View Details
    • $29 SF/Yr
      106,286 SF

      ALEXANDRIA Commercial Space For Lease

      Versatile commercial space in a vibrant, pedestrian-friendly Alexandria neighborhood.
      214 W Glebe Rd, Alexandria, VA 22305
      View Details
    • Contact for pricing

      Commercial Kitchen Space Available

      Commercial kitchen space for rent, ranging from 101-2700 sq. ft.
      1033 W Glebe Rd, Alexandria, VA 22305
      View Details
    • Contact for pricing
      4,447 SF

      Restaurant Space in Alexandria, VA

      Second-generation restaurant space with outdoor seating in Alexandria, VA.
      3110 Mount Vernon Ave, Alexandria, VA 22305
      View Details
    • $28 SF/Yr

      Alexandria Commercial Space For Lease

      Versatile commercial space in a revitalized Alexandria corridor.
      214 W Glebe Rd, Alexandria, VA 22305
      View Details
    • Contact for pricing
      3,458 SF

      Retail Space on Richmond Hwy

      3,458 SF sublease space near Ronald Reagan Airport.
      3671 Richmond Hwy, Alexandria, VA 22305
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3216 Richmond Hwy
    Alexandria, VA 22305-3026
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3216 Richmond Hwy, Alexandria, VA, 22305
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!