3435 Washington BlvdArlington, VA 22201

Property Details for 3435 Washington Blvd

Year built

1961

Lot size

0.30 AC

Property size (Sq ft)

8,330 SF

Zone code

C-2

Property type

Retail properties

Property subtype

Retail space

APN

15-086-010

APU

15086010

Description

This exceptional 7,330 square foot commercial property located at 3435 Washington Boulevard in Arlington, Virginia, presents a unique investment opportunity. Situated on a 0.3-acre lot, the building is currently vacant and free of any lease agreements, offering immediate flexibility for the new owner. The property's existing use is general commercial, previously suited for automotive purposes, but its adaptable nature allows for a variety of retail uses or complete redevelopment. A significant advantage is the availability of the adjacent parcel at 3427 Washington Boulevard, encompassing 9,433 square feet. Acquiring both properties would create a substantial combined lot size of 22,654 square feet, significantly enhancing redevelopment possibilities. This combined acreage presents substantial potential for larger-scale projects. The sellers demonstrate a commitment to facilitating a smooth transaction by offering to postpone the settlement date until after a contract purchaser secures the necessary redevelopment entitlements. This flexibility minimizes risk and allows ample time for planning and approvals. The property's prime Arlington location offers excellent visibility and accessibility, making it an attractive investment for both established businesses and developers seeking a strategic foothold in a thriving market. The asking price for this significant commercial property is $6,500,000.

• CAP approach

  CAP return

  Valuation

  6%

  $3,164,504

  6.5%

  $2,921,080

  7%

  $2,712,432

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,505,807

  Geo Method

  $3,505,807

• Alternative Use

  Use

  Valuation

  Residential

  $2,464,040

  Hospitality

  $2,257,048

  Educational

  $1,877,837

  Medical

  $1,942,419

  Retail

  $2,921,080

Location Insight

City

Arlington

County

Arlington

State

Virginia

Latitude

38.8863

Longitude

-77.102

CBSA code

47900

CBSA name

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

Property Tax & Assessments

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