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

  • Price: $7,500,000
  • 171 Days on Market
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Federal 30-year interest rate: 6.7% last updated on Sep 29, 2022
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Active with Contract
601-607 S Washington Street Alexandria VA 22314601-607 S Washington Street Alexandria VA 22314601-607 S Washington Street Alexandria VA 22314601-607 S Washington Street Alexandria VA 22314601-607 S Washington Street Alexandria VA 22314601-607 S Washington Street Alexandria VA 22314601-607 S Washington Street Alexandria VA 22314601-607 S Washington Street Alexandria VA 22314601-607 S Washington Street Alexandria VA 22314601-607 S Washington Street Alexandria VA 22314601-607 S Washington Street Alexandria VA 22314601-607 S Washington Street Alexandria VA 22314
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  • 0.21Acreage
  • 1870Year Built
  • UrbanLocationType
  • 642Price Per Square Foot
SALE-LEASEBACK OPPORTUNITY for two fully 2021 renovated buildings located on the SW corner of S. Washington and Gibbon Streets in Old Town Alexandria (601 & 607 S. Washington Street). These beautifully restored buildings occupy the entire corner and will be sold with a NNN lease in place for the current owner - The Linder Academy. Price: $7,500,000 Sale-leaseback Cap rate: 6.5% Asking Rent on leaseback: $41.76/SQFT (i.e. 40,650/month) with 2% annual escalation plus pass through expenses paid by tenant to include maintenance, utilities, property tax and insurance. A true NNN lease Term: Initial 10-year lease plus 10-year and 5-year lease extension options (with preference for longer term) Two extraordinary buildings totaling 11,680 SQ FT 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$7,500,000
  • LocationTypeUrban
  • MLS NumberVAAX2011858
  • MLS Property TypeCommercial Sale
  • Price Per Square Foot642
  • StatusActive With Contract

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

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
  • Property ConditionExcellent
  • Property SubTypeSpecial Purpose
  • Road Frontage Length89
  • ZoningCL
  • Zoning DescriptionPrivate School Use

Other

  • Cap Rate6
  • Historic YNYes
  • Sale or LeaseYes
  • View Count87

Parking

  • Assigned Parking Spaces
  • Parking FeaturesSurface
  • Parking TypesParking Lot

Basic Information

  • Date Listed04/18/2022

Location

  • Address601-607 S Washington Street
  • 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 YNYes
  • StateVA
  • TownAlexandria
  • Zip22314

Utilities

  • Central Air YNYes
  • CoolingCentral A/C
  • Cooling FuelElectric
  • Heat SystemCentral
  • Heating FuelNatural Gas
  • Heating YNYes
  • 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 October 5, 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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