115 Union StAlexandria, VA 22314

Property Details for 115 Union St

Year built

1989

Lot size

0.45 AC

Property size (Sq ft)

29,717 SF

Zone code

CD - COMMERCIAL DOWNTOWN

Property type

Office properties

Property subtype

Office buildings

APN

50523700

APU

50523700

Description

This exceptional executive office property at 115 South Union Street in Alexandria, Virginia, offers a unique opportunity for businesses seeking flexible and modern workspace. Located in the desirable 22314 zip code, the building underwent a complete renovation in 2019, ensuring contemporary amenities and a high-quality environment. The property is classified as both office and restaurant space, allowing for diverse tenancy options. Multiple tenancies are available, with a minimum divisible space of 1,322 square feet and a maximum contiguous space of 23,562 square feet, catering to businesses of various sizes. This allows for scalability and customization to meet specific needs. The building provides ample parking, with a ratio of 3 parking spaces per 1,000 square feet. The precise total building square footage is currently unavailable. This prime location in Alexandria, VA offers easy access to major transportation routes, making it an ideal location for commuting employees and clients. The property's modern design and flexible space options make it an attractive choice for businesses seeking a prestigious and functional workspace in a vibrant urban setting. Inquire today to learn more about available spaces and lease terms.

• CAP approach

  CAP return

  Valuation

  6%

  $7,679,770

  6.5%

  $7,089,018

  7%

  $6,582,660

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,963,036

  Geo Method

  $4,963,036

• Alternative Use

  Use

  Valuation

  Residential

  $8,790,383

  Hospitality

  $8,051,944

  Educational

  $6,699,122

  Medical

  $6,929,516

  Retail

  $10,420,857

Location Insight

City

Alexandria

County

Alexandria City

State

Virginia

Latitude

38.8037

Longitude

-77.0409

CBSA code

47900

CBSA name

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

Property Tax & Assessments

FAQs

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