221 Alfred StAlexandria, VA 22314

Property Details for 221 Alfred St

Year built

1900

Lot size

0.07 AC

Property size (Sq ft)

4,448 SF

Zone code

CL - COMMERCIAL LOW ZONE

Property type

Office properties

Property subtype

Office buildings

APN

11421500

APU

11421500

Description

This exceptional Old Town Alexandria commercial property, located at 221 South Alfred Street, presents a unique investment opportunity. The 6,000-6,900 square foot building, constructed in 1940 and renovated in 1982, sits on a 0.07-acre lot (APN 11421500) and is zoned CL. Currently configured as a multi-tenant executive office space with 19 offices, two conference rooms, a reception area, and four bathrooms, it offers significant versatility. The property features on-site private parking, a significant advantage in this desirable location. Its prime location in Old Town Alexandria provides easy access to major highways, public transportation, and Washington, D.C. The asking price is $2,295,000 ($343.97/sq ft), and seller financing is available. This fee-simple ownership opportunity is ideal for a variety of businesses or potential conversion to residential units. The building is comprised of three structures. Lease commencement is February 5th, 2024. Don't miss this chance to own a piece of Old Town Alexandria's rich history and vibrant future.

• CAP approach

  CAP return

  Valuation

  6%

  $1,149,498

  6.5%

  $1,061,075

  7%

  $985,284

• Comparable approach

  Method

  Valuation

  Relative Method

  $742,860

  Geo Method

  $742,860

• Alternative Use

  Use

  Valuation

  Residential

  $1,315,732

  Hospitality

  $1,205,204

  Educational

  $1,002,716

  Medical

  $1,037,200

  Retail

  $1,559,780

Location Insight

City

Alexandria

County

Alexandria City

State

Virginia

Latitude

38.8033

Longitude

-77.0498

CBSA code

47900

CBSA name

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

Property Tax & Assessments

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