50 Pickett StAlexandria, VA 22304

Property Details for 50 Pickett St

Year built

1988

Property type

Other office properties

Property subtype

Office properties

Description

This exceptional investment opportunity features two adjacent commercial condo units totaling 1,286 square feet at 50 S Pickett Street, Unit 225, Alexandria, VA. Each unit is individually priced at $275,000, or both can be purchased together for $550,000. Located in a thriving strip mall with ample parking, these units boast prime visibility and are situated in a densely populated area, offering easy access to Washington, D.C., Old Town Alexandria, Arlington, Springfield, and Maryland. Currently generating a combined monthly rental income of $3,200 on month-to-month leases, the property presents a strong cash flow opportunity. Comparable units in the area lease for $2,500 each, suggesting potential for rental increases. The units were remodeled in 2012 and benefit from low condo fees of $245 per month each. This location is highly desirable, with close proximity to Cameron Station and less than half a mile from the new Landmark development. The property's strategic location and strong rental income make it an ideal investment for both seasoned and new investors seeking a high-return opportunity in a rapidly growing area. The units are currently occupied, providing immediate income upon acquisition. This is a rare chance to acquire a well-maintained, income-producing property in a prime Alexandria location.

Location Insight

City

Alexandria

County

Alexandria City

State

Virginia

Latitude

38.8111

Longitude

-77.1212

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