319 Mill StVienna, VA 22180

Property Details for 319 Mill St

Year built

1970

Construction

TYPE NOT SPECIFIED

Lot size

0.71 AC

Property size (Sq ft)

23,000 SF

Zone code

CM(LIMITED INDUSTRIAL)

Property type

Industrial properties

Property subtype

Other warehouses

APN

038-2-02-0059

APU

382020059

Description

This exceptional investment opportunity presents a 22,640-square-foot Class B industrial flex/warehouse property located at 319 Mill Street NE, Vienna, VA 22180. Boasting a 6.06% cap rate and a stabilized NOI of $514,895, this multi-tenant property offers significant returns. The building, constructed in 1995, sits on a 19,824-square-foot lot and features 4 loading docks, 4 dock-high doors, and an impressive 18-foot ceiling height. Ample parking is provided with 39 spaces. Currently 100% occupied since October 24, 2023, the property benefits from a strong tenant base with leases structured as NNN (Net, Net, Net), ensuring minimal landlord responsibilities. Leases include 3 or 4% annual rent bumps, providing consistent income growth. The property is zoned CM (Town of Vienna) and enjoys a prime location in Northern Virginia, conveniently situated near major roadways including I-495, I-66, and Route 123, providing easy access to the Tysons Corner business and retail market. The asking price is $8,500,000, translating to a price per square foot of $375.44. The ownership structure is a Limited Liability Corporation. Lease options include five-year terms. A minimum tenant improvement (TI) package is offered upon lease execution. This property represents a rare opportunity to acquire a high-performing industrial asset in a highly desirable location.

Location Insight

City

Vienna

County

Fairfax

State

Virginia

Latitude

38.906

Longitude

-77.2673

CBSA code

47900

CBSA name

WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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