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601-607 S Washington StAlexandria, VA 22314MLS Number VAAX2011858

  • Price: $8,000,000
  • 30 Days on Market
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Federal 30-year interest rate: 5.3% last updated on May 12, 2022
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601-607 S Washington St Alexandria VA 22314601-607 S Washington St Alexandria VA 22314601-607 S Washington St Alexandria VA 22314601-607 S Washington St Alexandria VA 22314601-607 S Washington St Alexandria VA 22314601-607 S Washington St Alexandria VA 22314601-607 S Washington St Alexandria VA 22314601-607 S Washington St Alexandria VA 22314601-607 S Washington St Alexandria VA 22314601-607 S Washington St Alexandria VA 22314601-607 S Washington St Alexandria VA 22314601-607 S Washington St Alexandria VA 22314
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  • 0.21Acreage
  • 1870Year Built
  • UrbanLocationType
  • 685Price Per Square Foot
SALE-LEASEBACK OPPORTUNITY for two buildings fully renovated in 2021 located on the SW corner of S. Washington and Gibbon Streets in Old Town Alexandria. (601 & 607 S. Washington Street Alexandria,VA 22314). These beautifully restored buildings occupy the entire corner and will be sold with a NNN lease in place for The Linder Academy,the current owner. Price: $8,000,000 Sale-leaseback Cap rate: 5.6% Asking Rent on leaseback: $38/SQFT with 2% annual escalation plus pass through expenses paid by tenant to include maintain,utilities and property tax. Landlord would only pay insurance. Term: Initial 10-year lease plus 10-year and 5-year lease extension options Two buildings totaling 11,680SQFT on the corner of S. Washington Street & Gibbon Street in Old Town Alexandria,VA
Listed by Omar F. Younes and Dean Yeonas, Yeonas & Shafran Real Estate,LLC

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Basic Information

  • Broker NameYeonas & Shafran Real Estate, LLC
  • List Price$8,000,000
  • LocationTypeUrban
  • MLS NumberVAAX2011858
  • MLS Property TypeCommercial Sale
  • Price Per Square Foot685
  • StatusACT
  • Vacation Rental YNN

Building

  • Building Area SourceEstimated
  • Building Area Total11680
  • Building NameNONE AVAILABLE
  • Construction MaterialsBrick
  • Garage Spaces
  • Num Attached Garage Spaces
  • Num Detached Garage Spaces
  • Total Garage And Parking Spaces13
  • Year Built1870
  • Year Built Effective2021

Amenities

  • Accessibility AmenitiesChairlift, Other

Water Body

  • Tidal Water YNN
  • Water AccessN
  • Water View YNN
  • WaterfrontN

Other

  • Cap Rate5
  • Ground Rent Exists YNN
  • Ground Rent Payment FrequencyAnnually
  • Historic YNY
  • Sale or LeaseY
  • View Count51

Tax Information

  • Assessment Year2021
  • City Town Tax47295
  • City Town Tax Payment FrequencyAnnually
  • Tax Assessment Amount4200422
  • Tax Lot607
  • Tax Year2021
  • Taxes$4,200,422
  • Total Taxes Payment FrequencyAnnually

Property

  • Acreage0.21
  • Business TypeSchool
  • Lot DescriptionCorner
  • Lot Dimensions SourceEstimated
  • Lot Size Dimensions89 ' frontage on S. Washington St. and 90' frontage on Gibbon Street
  • Lot Size SourceEstimated
  • Lot Size Square Feet9,194
  • New Construction YNN
  • Property ConditionExcellent
  • Property SubTypeSpecial Purpose
  • Road Frontage Length89
  • ZoningCL
  • Zoning DescriptionPrivate School Use

Legal

  • Landusecode41
  • PossessionSeller Rent Back
  • Sale TypeStandard

Parking

  • Assigned Parking Spaces
  • Parking FeaturesSurface
  • Parking TypesParking Lot

Basic Information

  • Date Listed04/18/2022

Location

  • Address601-607 S Washington St
  • Building Number601-607
  • CountyAlexandria City
  • Cross StreetGibbon Street
  • DirectionsTwo fully updated buildings located on the SW corner of S. Washington Street & Gibbon St. in the Southwest Quadrant of Old Town Alexandria. Building addresses are 601,607-609 S. Washington Street.
  • In City Limits YNY
  • Navigable Water YNN
  • StateVA
  • TownAlexandria
  • Water Oriented YNN
  • Zip22314

Utilities

  • Central Air YNY
  • CoolingCentral A/C
  • Cooling FuelElectric
  • Heat SystemCentral
  • Heating FuelNatural Gas
  • Heating YNY
  • SewerPublic Sewer
  • Water HeaterNatural Gas
  • Water SourcePublic

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Copyright 2022 BRIGHT, All Rights Reserved.  Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Yeonas & Shafran Real Estate participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.Data last updated May 17, 2022. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale.

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