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    3407 Mt Vernon Ave Alexandria, VA 22305-2605
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    Property profile & analytics

    3407 Mt Vernon Ave, Alexandria, VA 22305-2605

    View on Map
    • Commercial real estate
    • 2,340 SF
    • 0.44 lot acres
    Off-Market
    Property ID
    US87-0788252
    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
    $585,000
    Show details
    Cap Rate Potential
    9.3%
    Commercial real estate
    Location Intelligence

    Current Use by Public Records

    • Mr Wash Car Wash / Car Wash

    Property Details for 3407 Mt Vernon Ave

    Year built
    1954
    Lot size
    0.44 lot acres
    Zone code
    CSL - COMMERCIAL SERVICE
    Property type
    Commercial real estate
    APN
    50628000
    APU
    50628000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 5, 2022 — The Highest Volume Car Wash LLC — Deed · related $700k · M&t Bank
    Sep 4, 2018 — Alexandria Glebe Road LP — Grant Deed · related $7M · M&t Bk
    May 14, 2018 $950,000 Flamingo Properties LLC Smoot,charles C V Grant Deed —
    — — Alexandria Glebe Road LP — Loan Modification · related $3M · Suntrust Bank NA
    — — Alexandria Glebe Road LP — Loan Modification · related $10.7M · Suntrust Bank NA

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $440,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $680,000
      6.5%
      $630,000
      7%
      $585,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $686,000
      Market price range: $202k - $804k

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

    Location Insight

    • Map
    • Local Demand
    City
    Alexandria
    County
    Alexandria City
    State
    Virginia
    Longitude
    -77.0606
    Latitude
    38.8362
    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
    $20,513
    $1,290,018
    $558,026
    $1,848,044
    -
    $1,290,018
    $558,026
    $1,848,044

    Comparable in this City

    • Value Estimation
      $1,365,000
      3,712 SF

      3809 Mt Vernon Ave

      COMMERCIAL (GENERAL)
      3809 Mt Vernon Ave, Alexandria, VA 22305-2410
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    • Value Estimation
      $740,000
      3,528 SF

      1025 Glebe Rd

      COMMERCIAL (GENERAL)
      1025 Glebe Rd, Alexandria, VA 22305-1458
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    • Value Estimation by Request
      1,031 SF

      226 Glebe Rd

      COMMERCIAL (GENERAL)
      226 Glebe Rd, Alexandria, VA 22305-2301
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    • Value Estimation by Request
      340 SF

      3216 Richmond Hwy

      COMMERCIAL (GENERAL)
      3216 Richmond Hwy, Alexandria, VA 22305-3026
      View Details
    • Value Estimation
      $935,000
      3,918 SF

      3706 Mt Vernon Ave

      COMMERCIAL (GENERAL)
      3706 Mt Vernon Ave, Alexandria, VA 22305-2440
      View Details
    • Value Estimation by Request
      1,011 SF

      3401 Mt Vernon Ave

      COMMERCIAL (GENERAL)
      3401 Mt Vernon Ave, Alexandria, VA 22305
      View Details

    Similar Nearby for Lease

    • Contact for pricing
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      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
    • $4,500 /Mo

      Flexible Retail Space in Alexandria

      2,750 SF retail space with flexible floor plan.
      218 W Glebe Rd, Alexandria, VA 22305
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    • 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
    • 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.
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      View Details
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    Alexandria, VA 22305-2605
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    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
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