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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7116 Richmond Hwy Alexandria, VA 22306

    • Warehouses
    • 2,071 SF
    • 1.03 lot acres
    OFF-MARKET
    Last Sale
    Jan 31, 2022
    $21,500,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0632752
    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.

    Current Use by Public Records

    • Warehouses

    Property Details for 7116 Richmond Hwy

    Lot size
    1.03 lot acres
    Property size
    2,071 SF
    Zone code
    C-8(HIGHWAY COMMERCIAL)
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    092-4-01-0047
    APU
    924010047

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Alexandria
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.0848
    Latitude
    38.7631
    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
    2024
    $6,322
    $492,540
    $0.00
    $492,540
    -
    $492,540
    $0.00
    $492,540

    Comparable in this City

    • Value Estimation
      $16,325,000
      66,512 SF

      7110 Richmond Hwy

      MINI-WAREHOUSE, STORAGE • 66,512 SF
      7110 Richmond Hwy, Alexandria, VA 22306
      View Details
    • Value Estimation
      $3,920,000
      27,972 SF

      7551 Fordson Rd

      MINI-WAREHOUSE, STORAGE • 27,972 SF
      7551 Fordson Rd, Alexandria, VA 22306-2225
      View Details
    • Value Estimation
      $19,905,000
      0.25 Acres

      3100 Holly Hl Rd

      MINI-WAREHOUSE, STORAGE • 0.25 Acres
      3100 Holly Hl Rd, Alexandria, VA 22306-1475
      View Details
    • Value Estimation
      $19,905,000
      0.25 Acres

      3200 Holly Hl Rd

      MINI-WAREHOUSE, STORAGE • 0.25 Acres
      3200 Holly Hl Rd, Alexandria, VA 22306-1401
      View Details
    • Value Estimation by Request
      0.80 Acres

      Alexandria, VA 22306

      MINI-WAREHOUSE, STORAGE • 0.80 Acres
      Alexandria, VA 22306
      View Details
    • Value Estimation
      $12,650,000
      96,725 SF

      7208 Fordson Rd

      MINI-WAREHOUSE, STORAGE • 96,725 SF
      7208 Fordson Rd, Alexandria, VA 22306-7217
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.11 Acres

      Alexandria Office Space - 150 SF

      Prime location, 150 sq ft office, utilities included.
      6801 Richmond Hwy, Alexandria, VA 22306
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    • $899,900

      Alexandria Specialty Property For Sale

      Specialty property available for purchase in Alexandria, Virginia.
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    • $319,000
      0.20 Acres

      Residential Land in Alexandria, VA

      Buildable lot in a convenient location near amenities.
      7814 Belvedere Dr, Alexandria, VA 22306
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    • $599,000

      Land For Sale Alexandria

      Land available for sale in Alexandria, Virginia.
      7748 Frances Dr, Alexandria, VA 22306
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    • $624,900

      Alexandria Specialty Property For Sale

      Specialty property available for purchase in Alexandria, Virginia.
      3601 Ransom Pl, Alexandria, VA 22306
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      Alexandria Specialty Property For Sale

      Specialty property available in Alexandria, Virginia.
      8205 Cedar Landing Ct, Alexandria, VA 22306
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    Similar Nearby for Lease

    • Contact for pricing
      4,411 SF

      Alexandria Retail Space For Rent

      Regional center with national retailers and local restaurants.
      7678-7702 Richmond Hwy, Alexandria, VA 22306
      View Details
    • Contact for pricing
      1,042 SF

      Alexandria Retail Space For Rent

      Regional center with national retailers and local restaurants near Fort Belvoir.
      7644-7690 Richmond Hwy, Alexandria, VA 22306
      View Details
    • Contact for pricing
      2,506 SF

      Alexandria Retail Space For Rent

      Regional center with national retailers and local restaurants.
      7716-7732 Richmond Hwy, Alexandria, VA 22306
      View Details
    • Contact for pricing
      950 SF

      Retail Space in Huntley Meadows

      950 SF retail space with pylon signage available.
      7601 Fordson Rd, Alexandria, VA 22306
      View Details
    • Contact for pricing

      Retail Space on Richmond Highway

      Retail space with excellent visibility and multiple access points.
      6301 Richmond Hwy, Alexandria, VA 22306
      View Details
    • $39 SF/Yr
      950 SF

      Huntley Meadows Plaza Retail Space

      Prime Alexandria Retail, High Visibility
      7609 Fordson Rd, Alexandria, VA 22306
      View Details
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    7116 Richmond Hwy
    Alexandria, VA 22306
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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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