7331 Little Riv Tpke Annandale, VA 22003-3318
- Office buildings
- 13,400 SF
- 0.60 lot acres
Current Use by Public Records
- Oegadgib / Korean Restaurant / Restaurant
- Annie's Hair Design / Hair Salon
- Spa Riverside / Sauna
- Riverside Music Studio / Music Instructor
Property Details for 7331 Little Riv Tpke
- Year built
- 1954
- Construction
- CONCRETE BLOCKS
- Lot size
- 0.60 lot acres
- Property size
- 13,400 SF
- Zone code
- C-8(HIGHWAY COMMERCIAL)
- Property type
- Office buildings
- APN
- 071-1-01-0014
- APU
- 711010014
Description
This exceptional retail property, located at 7331 Little River Turnpike in Annandale, Virginia, presents a unique investment opportunity. Boasting 13,400 square feet of versatile space, this property sits on a sizable 0.6-acre lot, offering ample room for expansion or outdoor amenities. The prime location on Little River Turnpike ensures high visibility and significant foot traffic, making it ideal for a variety of retail businesses. The asking price is $5,950,000. The property's substantial size and prominent location within a thriving commercial area promise strong returns for the discerning investor. Its strategic placement provides easy access to major transportation routes, ensuring convenient access for customers and employees alike. The property's existing infrastructure presents a solid foundation for immediate occupancy or extensive renovations to suit a specific business model. This is a rare opportunity to acquire a well-situated, high-traffic retail property in a desirable and rapidly developing area of Annandale. The substantial lot size offers potential for future development or expansion, adding further value to this already impressive investment. Serious inquiries are encouraged to explore this exceptional commercial real estate offering.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $4,510,000
- 6.5%
- $4,165,000
- 7%
- $3,865,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,923,000
- AI Estimate
- $2,297,000
Market price range: $2.92M - $4.65MMarket price range: $2.30M - $3.62M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $3,660,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $4,940,000 Change: +35% Conversion: Difficult
- INDUSTRIAL (GENERAL)
- $4,560,000 Change: +25% Conversion: Difficult
- AUTO REPAIR, GARAGE
- $4,475,000 Change: +22% Conversion: Difficult
- WAREHOUSE, STORAGE
- $3,930,000 Change: +7% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Annandale
- County
- Fairfax
- State
- Virginia
- Longitude
- -77.1987
- Latitude
- 38.8302
- CBSA code
- 47900
- CBSA name
- WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA