Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8309 Richmond Hwy Alexandria, VA 22309-2324

    • Office Properties & Spaces
    • 2,487 SF
    OFF-MARKET
    Last Sale
    Jul 11, 2024
    $610,000
    Value Estimations
    $610,000
    Show details
    Cap Rate Potential
    5.8%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US87-3759420
    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

    • CTSS Inc / Telecommunications Service / Data Center

    Property Details for 8309 Richmond Hwy

    Year built
    1989
    Construction
    CONCRETE BLOCKS
    Property size
    2,487 SF
    Zone code
    C-8(HIGHWAY COMMERCIAL)
    Property type
    Office Properties & Spaces
    APN
    101-4-25-C
    APU
    101425C

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $610,000
      ML approach
      $610,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $590,000
      6.5%
      $545,000
      7%
      $505,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $554,000
      Market price range: $424k - $566k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $865,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $915,000
      Change: +6% Conversion: Difficult
      WAREHOUSE, STORAGE
      $845,000
      Change: -2% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $830,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Alexandria
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.1008
    Latitude
    38.7323
    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
    $6,554
    $102,120
    $408,480
    $510,600
    -
    $102,120
    $408,480
    $510,600

    Comparable in this City

    • Value Estimation by Request
      918 SF

      4010 Maury Pl Ste 6b

      CONDOMINIUM OFFICES • 918 SF
      4010 Maury Pl Ste 6b, Alexandria, VA 22309-2340
      View Details
    • Value Estimation by Request
      1,152 SF

      8401 Richmond Hwy Ste C

      CONDOMINIUM OFFICES • 1,152 SF
      8401 Richmond Hwy Ste C, Alexandria, VA 22309-2423
      View Details
    • Value Estimation by Request
      1,327 SF

      8305 Richmond Hwy Ste 1a

      CONDOMINIUM OFFICES • 1,327 SF
      8305 Richmond Hwy Ste 1a, Alexandria, VA 22309-2348
      View Details
    • Value Estimation by Request
      1,152 SF

      8405 Richmond Hwy Ste D

      CONDOMINIUM OFFICES • 1,152 SF
      8405 Richmond Hwy Ste D, Alexandria, VA 22309-2425
      View Details
    • Value Estimation by Request
      1,272 SF

      8305 Richmond Hwy Ste 4a

      CONDOMINIUM OFFICES • 1,272 SF
      8305 Richmond Hwy Ste 4a, Alexandria, VA 22309-2348
      View Details
    • Value Estimation by Request
      1,168 SF

      8401 Richmond Hwy Ste A

      CONDOMINIUM OFFICES • 1,168 SF
      8401 Richmond Hwy Ste A, Alexandria, VA 22309-2423
      View Details

    Similar Nearby for Sale

    • $349,000

      Commercial Space in Mount Vernon

      Commercial space suitable for salon, office, or retail use.
      8407 Richmond Hwy, Alexandria, VA 22309
      View Details
    • $145,000

      Established Alexandria Convenience Store Business

      Profitable convenience store serving the Ethiopian/Eritrean community.
      8714 Richmond Hwy, Alexandria, VA 22309
      View Details
    • $1,139,000

      Specialty Property for Sale

      Specialty property available for purchase.
      4207 Scotland Rd, Alexandria, VA 22309
      View Details
    • $849,900

      Alexandria Specialty Property For Sale

      Specialty property available in Alexandria, Virginia.
      8801 Gateshead Rd, Alexandria, VA 22309
      View Details
    • $389,999

      Alexandria Specialty Property For Sale

      Specialty property available for purchase in Alexandria, Virginia.
      8530 Southlawn Ct, Alexandria, VA 22309
      View Details
    • $581,000

      Lawrence Street Specialty Property

      Specialty property available for sale in Alexandria, Virginia.
      4821 Lawrence St, Alexandria, VA 22309
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,500 SF

      Engleside Plaza Retail Space for Lease

      Alexandria Retail Space, High Visibility
      8626 Richmond Hwy, Alexandria, VA 22309
      View Details
    • Contact for pricing
      24,660 SF

      Alexandria Retail Space For Lease

      Prime Alexandria retail space available.
      8733 Cooper Rd, Alexandria, VA 22309
      View Details
    • Contact for pricing
      35,314 SF

      Alexandria Retail Space on Richmond

      Retail space with high visibility and ample parking available for lease.
      8453-8457 Richmond Hwy, Alexandria, VA 22309
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space Near Fort Belvoir

      Retail space with high visibility near Fort Belvoir.
      8624 Richmond Hwy, Alexandria, VA 22309
      View Details
    • Contact for pricing
      45,349 SF

      Richmond Hwy Retail Space

      Large Retail Space in Alexandria, VA
      8625 Richmond Hwy, Alexandria, VA 22309
      View Details
    • $2,950 /Mo
      1,420 SF

      Renovated Townhome with Modern Charm

      Exquisitely renovated townhome near amenities, schools, and commuter routes.
      8552 Southlawn Ct, Alexandria, VA 22309
      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.
    8309 Richmond Hwy
    Alexandria, VA 22309-2324
    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

    Google sign-in failed. Please try again or use another login method.