$ 3,495,000
-
$3,495,000
Price -
0
Bed - Bath
-
13,096
SqFt
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About the Listing CPTR1 - 130935
* Prime Location in Heart of Del Ray * Perfect for User/Investor * Private Parking on E. Howell Ave. Lots * Residential conversion opportunity * This unique property in the heart of Alexandria’s vibrant and popular Del Ray neighborhood offers an opportunity for users, investors, and even residential buyers, as well as featuring a strong value-add component. And it’s offered at a below-market rate of $267/SF—vs. sold comps averaging $379/SF. For users, operate your business on the third floor while you benefit from $225,000+ in gross annual income from two existing tenants, USPS and iData, each of which exercised options to extend leases through 12/31/28. USPS has one more 5-year option thereafter. For investors, lease up the third floor either as is for professional office, or medical, legal, government contractor, trade assn. or professional society, or target other uses allowed under CL zoning, such as spa or fitness studio. Among the value-add scenarios is to convert the third floor to residential, specifically four 1-BR apartments, that could command up to $2,350 per unit in rent, based on a recent nearby lease comp. Or, for a residential buyer, convert the 3rd floor to a luxury 3-BR unit. Looking ahead, once 2nd floor lease expires, this floor could also be converted to residential under the Mt. Vernon Overlay plan, for a total of 8 1-BR units (assuming 3rd floor was converted to 4 1-BRs). A big plus to a new owner are the parking spaces on the two RB residential lots on E. Howell Ave. Two recent sold comps had zero off-street parking. Property is also listed under Residential. See MLS# VAAX2030462.
Listing Highlights for 1908 Mt Vernon Ave
Status
Active With Contingency
Days on Site
692
Property Type
Commercial Sale
MLS ®
VAAX2029718
Year Built
1946
Total Square Footage
13,096
Lot/Acreage
0.12
Interior Details
- Bedrooms: 0
- Bathrooms: Full
- Appliances:
- Air Cond: Central A/C
- Heating: Steam
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No,In City Limits
- Garage Capacity: N/A
- Parking Spaces: 11
- Zoning: The CL (Commercial Low) zone is for small-scale retail and service uses. Residential allowed as auxiliary use w/limits.
- Roof:
- Others: Very Good
- Sewer: Public Sewer
- Parking Features: Parking Lot,4+ Spaces,3+ Spaces,2+ Spaces,1+ Spaces
Financial Details
- Tax Amount: $27,467
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2024
Payment Calculator
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Listing Location
Questions About..
1908 Mt Vernon Ave Alexandria, VA 22301
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